Final Inspection for another appraiser's FHA report

[shrubberyvaluation]

I will typically say the home meets FHA guidelines, providing all of the condtions of the OA have been met. You are saying yes this repair was completed, and please refer to the OA to know if the home now meets FHA guidelines.

How do you know that without inspected the property for FHA guidelines?

 

[shrubberyvaluation]

When the appraiser checked the repair box that normally means its subject to repairs being completed and then it will meet FHA MPR.

They can assume it if they want, but I won't attest to something I didn't do.

 

[glenn walker]

They can assume it if they want, but I won't attest to something I didn't do.

When one of our guys was sick, on vacation or dead, I would have to do their 1004-D repair inspections. I would be given a copy of their report and go through it and see what repairs he had called out, took photos . Then if those repairs were done I signed off that requested repairs had been completed as per Original Report- Dated XYZ and was done, If the appraiser does not feel comfortable they should ask the 1004-D to be assigned to someone else. I normally knew the appraisers and as long as it looked good I was fine.

 

[shrubberyvaluation]

When one of our guys was sick, on vacation or dead, I would have to do their 1004-D repair inspections. I would be given a copy of their report and go through it and see what repairs he had called out, took photos . Then if those repairs were done I signed off that requested repairs had been completed as per Original Report- Dated XYZ and was done, If the appraiser does not feel comfortable they should ask the 1004-D to be assigned to someone else. I normally knew the appraisers and as long as it looked good I was fine.

I'm fine with that, some want verbiage that the subject meets FHA minimum standards and I can't know that without inspecting the whole property myself.

 

[glenn walker]

I'm fine with that, some want verbiage that the subject meets FHA minimum standards and I can't know that without inspecting the whole property myself.

Just don't do someone else's 1004-D They dont want a new inspection just if what OA called out for was completed. Now that was easy

 

[glenn walker]

Just don't do someone else's 1004-D They dont want a new inspection just if what OA called out for was completed. Now that was easy

We can always find a PAREA Graduate who doesnt ask so many questions LMAO

 

[Digger88]

All required repairs have been completed.

 

[shrubberyvaluation]

We can always find a PAREA Graduate who doesnt ask so many questions LMAO

Yep with little skin in the game they don't have to worry about stupid things like losing their license or FHA credentials.

 

[jay trotta]

THANK YOU ALL FOR YOUR COMMENTS! I DO HAVE THE ORIGINAL APPRAISAL, BUT I WILL BE ABLE TO COVER ALL QUESTIONS AND WILL DEFINITELY NOT SAY THAT THE HOME HAS MET FHA GUIDELINES. I ACTALLY HAVE A GREAT REALTOR I AM DEALING WITH WHO IS COOPERATING TREMENDOUSLY. I APPRECIATE ALL THE VALUABLE INPUT

Are you Yelling at everyone, if NOT turn off your caps lock

 

[form1025]

Will FHA reach this point ?

What is required for Form 1004D or alternative completion methods?

Form 1004D and Completion Alternatives

Form 1004D
The Appraisal Update and/or Completion Report (Form 1004D) is used to update an appraisal or provide confirmation that the requirements or conditions in an appraisal report have been met (such as completion of construction or repairs).

The appraiser can complete the Completion Report section of Form 1004D based on an on-site visual inspection of the property. The appraiser may also complete the form based on alternative methods, such as virtual inspections, digital photos, site videos, or other technological solutions. All completion documentation must include one or more visually verifiable exhibits. A link to the digital exhibits from within the form is acceptable but must be accessible by Fannie Mae for the life of the loan. These exhibits must be unaltered and able to be authenticated using metadata and the geocode for the subject property.

See B4-1.2-04, Appraisal Age and Use Requirements, for certifications completed by substitute appraisers.

Attestation Letters
Fannie Mae also permits other completion alternative methods - attestation letters - to verify completion of construction, alteration, or repairs in lieu of Form 1004D.

Borrower/builder attestation letter: For new or proposed construction, a letter is permitted to confirm the property was completed and constructed in conformity with the plans and specifications, amendments, and change orders. The borrower/builder attestation letter must include (at a minimum) the following items:

• borrower name,
• property address or legal description if the address is not available,
• certification language that the property was constructed in conformity with the plans and specifications including any amendments or changes,
• signatures and dates by the borrower(s) and builder, and
• exterior and interior photos of the property (see B4-1.2-01, Appraisal Report Forms and Exhibits).

If a letter signed by both parties is not obtainable, then a Form 1004D completed by the appraiser is required.

Borrower attestation letter: A letter is permitted to confirm completion of certain alterations or repairs for existing construction. The letter must include (at a minimum) the following:

• borrower name;
• property address;
• certification language that the alteration or repair was satisfactorily completed;
• signatures and date of the borrower;
• visually verifiable exhibits of the completed work; and
• one of the following
  • signature of the qualified professional,
  • a professionally prepared report, or
  • paid invoices for the alterations or repairs.

When either of these attestation letter options is used, a link within the letter to any digital exhibits is acceptable but must be accessible by Fannie Mae for the life of the loan. These exhibits must be unaltered and able to be authenticated using metadata and the geocode for the subject property. The letter and all documentation must be retained in the loan file.

Criteria for Use of Form 1004D and Completion Alternatives
Use of Form 1004D and completion alternatives varies depending on the type of valuation method and condition (completion, alteration, inspection, or repair) that must be verified.

Appraisals (Any appraisal report form including Hybrid and Desktop)
Appraisal "Subject to" Condition	Performer	Documentation Options
New or proposed construction - completion per plans and specifications	Appraiser	Form 1004D with site visit
Appraiser	Form 1004D with virtual inspection
Borrower and builder	Borrower/builder attestation letter with supporting evidence
Existing construction - repairs or alterations	Appraiser	Form 1004D with site visit
Appraiser	Form 1004D with virtual inspection
Borrower	Borrower attestation letter with supporting evidence
Existing construction - inspections requiring a professionally prepared report	Qualified professional	Professionally prepared inspection report The lender must determine if repairs are required as a result of the inspection, verification per above requirements.
Property Data Collection
Condition	Performer	Documentation
Existing construction - repairs or alterations	Borrower	Borrower attestation letter with supporting evidence
Existing construction - inspection requiring a professionally prepared report	Qualified professional	Professionally prepared inspection report The lender must determine if repairs are required as a result of the inspection, verification per above requirements.