- May 25, 2002
- Professional Status
- Certified Residential Appraiser
This is not an FHA appraisal or a new or under repair construction. This is a typical conventional loan that the agent has asked me to do the appraisal based on subject to upgrading the property because there is a recent sale in the market that was sold high due to its highly upgraded condition. If the subject gets similar upgrading, its value would be similar to that upgraded model match and the lender knows that. I know that subject to is a must for FHA and also for new construction or even old constructions that are under repair or upgrading at the time of appraisal but I never had any request like this and I am not sure it is a common practice or it is a trap, I would like to get any feed back or experience that you have on cases like this.