Gary Schinagel
Sophomore Member
- Joined
- Jul 3, 2008
- Professional Status
- Certified Residential Appraiser
- State
- New Mexico
First time in so bear with me. Read the 4150 and appendix D both but am not quite clear on some items. Please help!
Looking for some ANSWERS to questions that come up MAN. FHA 1004C.
What are the typical attachments to the report? Mandatory? and suggested? Like HUD transmittal,Manufactured checklist,UPAP compliance,Limiting conditions. Basically they do not tell you the correct forms mandatory and or suggested.
High voltage feed for rural are common. Are individual power poles that supply electric feed considered high voltage which require fall distance such as Cell towers etc. most of theses supply poles are close to and often abutting the subject but by my definition do not qualify as a major power line but are more typically individual feeds that often are within fall distance?
Is the cost approach required by HUD if older than 2 years? Can dealer information be used? Or is NADA subscription mandatory(since its use appears to be limited to 2 years or newer)? And is the 1007 MArshal swift form used or mandatory when cost required by client or HUD or are the cost sections included in the 1004C sufficient? Also are the site estimates ALWAYS MANDATORY as was in the past(which used to be the primary reason for maintaing the cost approach in the summary form was for site value estimates for proper land-irovements ratio's)?
Private road/ drive is noted as now acceptable IS THAT TRUE OR AM I READING IT INCORRECTLY? Its noted to explain and have lender via title examination reveal recorded permanent easement. So again are private roads now elidgeable?
Skirting used to be Block but did not include vinyl skirting is that still true? What skirting is allowed?
What about newer improvements that have not consolidated Tax ID's(Still assessed as Chattel and land seperatley) but have applied and qualify per inspection and engineer cert and are just awaiting regulation agency inspection to deactivate title?
Is an engineer PERMANENT FOUNDATION cert required ALWAYS? Or can we verify via inspection?
Do we need regulation agency to reinspect after ALL improvements? examples are; Outbuildings with contributory value attached or unattached. Porches,Decks and Patios Attached or detached, Site built additions permited by local zoning and inspectors etc. which are typical improvements. Very rarely do you just have the MAN SFR only with the owners constantly often improving and adding to the property. Per my reading its says that the regulation agency MUST REINSPECT. The manufactured regulation division or other often more restrictive municipal agencies do they count?
Water tanks in close proximity or view? Ther is an instance where the water tower is next to subject in an otherwise typical homogeneous area. Does this quailify. I mean the chances of finding another one like it as a comp will be impossible. But to me its a negative marketing factor ebven if allowed but IS marketable due to views construction etc.
What is considered a safe distance for well and septic from each other it pretty much says to determine but not the recommended or required distance amount? Also it states that the distances of the Well,Septic and Propane DO NOT need to be noted? Private (and shared wells with verifiable agreement )are allowed in handbook. When do we have to have them inspected. Its vague!
SORRY FOR ALL THE QUESTIONS IF YOUR LIKE ME YOU CAME FOR ANSWERS AND I HATE TO COME OF AS DUMB ESPECIALLY SINCE I HAVE BEEN DOING THIS APPRAISALS SINCE 1996, AND ALSO AM NADA MAN CERTIFIED. BUT I JUST MOVED AND THE MAJORITY OF THE AREA IS BOTH SUBURBAN AND RURAL MANUFACTURED PREDOMINANT HOUSING IN THE SURROUND. SO I PASSED THE TEST FOR FHA BUT I DO SO FILL LIKE I NEED PEER GUIDANCE SO THAT I CAN CONFIDENTLY LEAN ON THE REAL WORLD PRACTICE ESPECIALLY FOR STACKING AND OFTEN VAGUE EVER CHANGING REGULATIONS. WE APPRAISERS AS PROFESSIONALS ARE HELD TO MUCH HIGHER STANDARD THAN ARE THE LO'S AND BANKS OF THE WORLD. ITS LIKE WE HAVE TO WALK ON WATER almost.
Looking for some ANSWERS to questions that come up MAN. FHA 1004C.
What are the typical attachments to the report? Mandatory? and suggested? Like HUD transmittal,Manufactured checklist,UPAP compliance,Limiting conditions. Basically they do not tell you the correct forms mandatory and or suggested.
High voltage feed for rural are common. Are individual power poles that supply electric feed considered high voltage which require fall distance such as Cell towers etc. most of theses supply poles are close to and often abutting the subject but by my definition do not qualify as a major power line but are more typically individual feeds that often are within fall distance?
Is the cost approach required by HUD if older than 2 years? Can dealer information be used? Or is NADA subscription mandatory(since its use appears to be limited to 2 years or newer)? And is the 1007 MArshal swift form used or mandatory when cost required by client or HUD or are the cost sections included in the 1004C sufficient? Also are the site estimates ALWAYS MANDATORY as was in the past(which used to be the primary reason for maintaing the cost approach in the summary form was for site value estimates for proper land-irovements ratio's)?
Private road/ drive is noted as now acceptable IS THAT TRUE OR AM I READING IT INCORRECTLY? Its noted to explain and have lender via title examination reveal recorded permanent easement. So again are private roads now elidgeable?
Skirting used to be Block but did not include vinyl skirting is that still true? What skirting is allowed?
What about newer improvements that have not consolidated Tax ID's(Still assessed as Chattel and land seperatley) but have applied and qualify per inspection and engineer cert and are just awaiting regulation agency inspection to deactivate title?
Is an engineer PERMANENT FOUNDATION cert required ALWAYS? Or can we verify via inspection?
Do we need regulation agency to reinspect after ALL improvements? examples are; Outbuildings with contributory value attached or unattached. Porches,Decks and Patios Attached or detached, Site built additions permited by local zoning and inspectors etc. which are typical improvements. Very rarely do you just have the MAN SFR only with the owners constantly often improving and adding to the property. Per my reading its says that the regulation agency MUST REINSPECT. The manufactured regulation division or other often more restrictive municipal agencies do they count?
Water tanks in close proximity or view? Ther is an instance where the water tower is next to subject in an otherwise typical homogeneous area. Does this quailify. I mean the chances of finding another one like it as a comp will be impossible. But to me its a negative marketing factor ebven if allowed but IS marketable due to views construction etc.
What is considered a safe distance for well and septic from each other it pretty much says to determine but not the recommended or required distance amount? Also it states that the distances of the Well,Septic and Propane DO NOT need to be noted? Private (and shared wells with verifiable agreement )are allowed in handbook. When do we have to have them inspected. Its vague!
SORRY FOR ALL THE QUESTIONS IF YOUR LIKE ME YOU CAME FOR ANSWERS AND I HATE TO COME OF AS DUMB ESPECIALLY SINCE I HAVE BEEN DOING THIS APPRAISALS SINCE 1996, AND ALSO AM NADA MAN CERTIFIED. BUT I JUST MOVED AND THE MAJORITY OF THE AREA IS BOTH SUBURBAN AND RURAL MANUFACTURED PREDOMINANT HOUSING IN THE SURROUND. SO I PASSED THE TEST FOR FHA BUT I DO SO FILL LIKE I NEED PEER GUIDANCE SO THAT I CAN CONFIDENTLY LEAN ON THE REAL WORLD PRACTICE ESPECIALLY FOR STACKING AND OFTEN VAGUE EVER CHANGING REGULATIONS. WE APPRAISERS AS PROFESSIONALS ARE HELD TO MUCH HIGHER STANDARD THAN ARE THE LO'S AND BANKS OF THE WORLD. ITS LIKE WE HAVE TO WALK ON WATER almost.
