Appraiser Marked Private Septic And Well As Public

[Terrel L. Shields]

Which makes it look intentionally marked public in order to bypass the measurements. I've also heard she may have thought the water well in the garage was a water heater.

So if you knew the truth, why are you concerned? You knew it was septic and water well - did you think the appraiser magically changed it and you applied for the FHA loan right? You knew what you were buying. The appraiser did not mislead you, even if they misled FHA

 

[Huds_Harm]

So if you knew the truth, why are you concerned? You knew it was septic and water well - did you think the appraiser magically changed it and you applied for the FHA loan right? You knew what you were buying. The appraiser did not mislead you, even if they misled FHA

Circles........ Correct but I did not know nor was I required to know FHA minimum property requirements. They are in place for a reason. They are there to protect the lender AND the buyer. In this case from a $117,000.00 home repair.

 

[Tiffany Gibbons]

Well if you did, I can assure you your license would require you to not only know but perform them. It was not a desktop.

Circles........ Correct but I did not know nor was I required to know FHA minimum property requirements. They are not in place for fun. They are there to protect the lender AND the buyer. In this case from a $117,000.00 home repair.

Didn't you get a disclosure about how appraisals and home inspections are different? Usually a standard form you sign. I believe most lenders also have a form where you elect to pay for a survey or choose not to. I'm betting you did not pay for a survey either.

 

[Huds_Harm]

Didn't you get a disclosure about how appraisals and home inspections are different? Usually a standard form you sign. I believe most lenders also have a form where you elect to pay for a survey or choose not to. I'm betting you did not pay for a survey either.

I am fully aware of the difference between a home inspection and an appraisal as well as paying for a survey. The septic is not on it. Maybe you should stick to non FHA appraisal threads.

 

[Huds_Harm]

So if you knew the truth, why are you concerned? You knew it was septic and water well - did you think the appraiser magically changed it and you applied for the FHA loan right? You knew what you were buying. The appraiser did not mislead you, even if they misled FHA

FHA Standards​

FHA-insured properties must be safe, sanitary and structurally sound to meet minimum property standards set out in FHA guidelines. If a home does not meet FHA minimum property standards, the FHA will not supply mortgage insurance for the loan. Since the loan is contingent on the FHA supplying insurance, the lender will not approve the mortgage until the seller brings the home up to FHA standards,

The appraiser owes me the home being brought to MPR standards as would have been required prior to closing.

 

[Terrel L. Shields]

The appraiser owes me the home being brought to MPR standards as would have been required prior to closing.

Not if you knew or should have known there was septic. I bet you won't win. The appraiser responsibility is to FHA not the borrower.

 

[Huds_Harm]

Not if you knew or should have known there was septic. I bet you won't win. The appraiser responsibility is to FHA not the borrower.

again knowing it was septic and knowing FHA minimum property requirements are two different things. The facts are the loan would not have funded to me be it not for her negligence.

 

[Tiffany Gibbons]

Circles........ Correct but I did not know nor was I required to know FHA minimum property requirements. They are in place for a reason. They are there to protect the lender AND the buyer. In this case from a $117,000.00 home repair.

Wait, it was $60,000, now it's $117,000?

 

[Huds_Harm]

Wait, it was $60,000, now it's $117,000?

That's correct.

 

[Tiffany Gibbons]

again knowing it was septic and knowing FHA minimum property requirements are two different things. The facts are the loan would not have funded be it not for her negligence.

You could have requested the Lender to have the health department or professional sanitary engineer make an inspection. FHA does not automatically disqualify a home just for being on septic. Even if the appraiser had checked the right box, it would have to be an obvious malfunction for the appraiser to call for an inspection. This is not on the appraiser. If you did not question the seller, the agents involved (who happily cashed their commission checks) the lender who made $ off the loan and closing costs, home inspector and now surveyor about this, you are ultimately responsible for a bad decision on buying a house.