Appraiser Marked Private Septic And Well As Public

[EddieB]

Thanks for all the advice!

Post your remedy. We would like to hear what it is. I wish you success

 

[Huds_Harm]

Post your remedy. We would like to hear what it is. I wish you success

Will do!

 

[CCAAMO]

I’ve heard appraisers use that as an out. Thanks

its a legal fact. You should have fully completed your due diligence. If you want to finger point start with pointing the finger at yourself.

 

[Jayjay25]

As stated multiple times I did get an inspection as well. I am not required to know FHA minimum requirements. Lenders and appraisers are.

That’s because those are the only intended users of the requirements. The requirements are there to protect the lender from a loss caused by a default it the borrower decides to walk away from the home because of a foreseeable issue or defect. Sounds like it shouldn’t have gone FHA. That’s a lending mistake not a purchasing mistake.

 

[Huds_Harm]

its a legal fact. You should have fully completed your due diligence. If you want to finger point start with pointing the finger at yourself.

I paid for an inspection and FHA appraisal I’m sure I am not the one who did not complete their due diligence.

 

[Huds_Harm]

That’s because those are the only intended users of the requirements. The requirements are there to protect the lender from a loss caused by a default it the borrower decides to walk away from the home because of a foreseeable issue or defect. Sounds like it shouldn’t have gone FHA. That’s a lending mistake not a purchasing mistake.

Bingo

 

[Ariba]

An Appraiser is not a home inspector. Who is stupid enough to buy a house based on an appraisal. Did you hire a home inspection as is recommended?

 

[Ariba]

As advised above, you will need an attorney (a good one). I was approached earlier this year by an attorney representing a buyer who acquired a dwelling, then found out there was no foundation. Both realtors, lender, home inspector, and appraiser were in on the settlement.

Maybe he should sue himself.

 

[Huds_Harm]

An Appraiser is not a home inspector. Who is stupid enough to buy a house based on an appraisal. Did you hire a home inspection as is recommended?

Please read the complete thread before ASSuming.

 

[Ariba]

Please read the complete thread before ASSuming.

The appraiser on the property I purchased with an FHA loan marked my water and sewer as public therefore the required FHA tests and minimum distance requirements were not performed. The system has not only failed it will cost upwards of 60k to bring up to health and safety standards due to the size of the lot and having to move the well. The property does not qualify for a FHA loan due to the distance from the septic to the well as is being only 40ft. Any advice on who is liable?

Was there a mention of a home inspection?