1004D final inspection for new construction

[mp2277]

in my 1004D i state i wasn't present during construction and i does not warranty, or guarantee, anything involving this house. some of you seem very diligent, but stopping settlement for the co is going to cause 2 angry attorney clients. the builder & the buyer. i do, and have appraised, a lot of city rehabs/new construction. the city inspects every separate part of that job when it gets done. that seems like enough to go with it being completely built.

And if the inspector finds serious issues that need repair, the builder goes broke and won't finish the job, the borrower gets pissed and walks away and the bank ends up with the house I suppose you think they're just gong to be understanding and give the appraiser a pass on his lack of due diligence?

 

[mp2277]

As long as the house is 99 percent complete

Your signature is on a form that says complete, not 99% complete.

 

[Dublin ohio]

Have you never had a municipal inspector find a laundry list of issues that require repair before they will issue the CO? I have many times.

How many of those items would the vast majority of appraisers be aware of without seeing that laundry list. Most of those "laundry lists" are minor technical issues. That most appraisers wouldn't even see or look for.

 

[Mark K]

Your original comment was actually funnier than this

LOL!

Well, how about....

Did you hear the one about the appraiser that walked into a bar? Bartender asked "Hey, why the long face?" Appraiser replied..."I didn't understand my job, exceeded my scope of work, needlessly caused problems for a lot of people, and then my client fired me."

 

[glenn walker]

Well OP won't have to worry-- I doubt he will ever get another assignment from this lender again anyway

 

[Deleted member 157170]

Your signature is on a form that says complete, not 99% complete.

Well if there is anything that this forum is proving its that "complete" is subjective...I would also argue it doesn't say "100 percent" anywhere on the form...

I consider the home complete once all things that impact value are done. Because that's my job...to determine the value, not to make sure that some county inspector does their job. This may mean that there is a little bit of touch up here and there or a small piece of baseboard to install or something similarly insignificant. If you are going to be a perfectionist about it, you probably wont keep a new builder client for long because they will get tired of you being so nit picky.

 

[mp2277]

Well OP won't have to worry-- I doubt he will ever get another assignment from this lender again anyway

So that's your criteria for your professional integrity and credible reports?

 

[mp2277]

Well if there is anything that this forum is proving its that "complete" is subjective...I would also argue it doesn't say "100 percent" anywhere on the form...

I consider the home complete once all things that impact value are done. Because that's my job...to determine the value, not to make sure that some county inspector does their job. This may mean that there is a little bit of touch up here and there or a small piece of baseboard to install or something similarly insignificant. If you are going to be a perfectionist about it, you probably wont keep a new builder client for long because they will get tired of you being so nit picky.

Yeah, probably so it's only been two decades I'm sure I'm still in the probationary period.

 

[mp2277]

Well if there is anything that this forum is proving its that "complete" is subjective...I would also argue it doesn't say "100 percent" anywhere on the form...

I consider the home complete once all things that impact value are done. Because that's my job...to determine the value, not to make sure that some county inspector does their job. This may mean that there is a little bit of touch up here and there or a small piece of baseboard to install or something similarly insignificant. If you are going to be a perfectionist about it, you probably wont keep a new builder client for long because they will get tired of you being so nit picky.

I don't see any subjectivity here

adjective. having all parts or elements; lacking nothing; whole; entire; full: a complete set of Mark Twain's writings. finished; ended; concluded: a complete orbit. having all the required or customary characteristics, skills, or the like; consummate; perfect in kind or quality: a complete scholar.

 

[Flakey]

FWIW, I've seen CO's on new construction that I refused to call complete. Don't know how they got it, but the builder was really mad (at me).