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"Call if the home needs repairs before you proceed..&qu

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Tom Curran

Sophomore Member
Joined
Oct 18, 2002
I have an FHA order where the Mortrgage broker asked me to to put the report on hold if the property needs significant repairs. Upon inspection I noted that the crawl space door is not only too small but has a large drain pipe going right down the middle making access impossible. Also the floors where the HVAC unit and water heater is, has rotted away and needs to be replaced. I would assume that would mean that the whole heating unit would have to be pulled in order to do that. Big $$$.

My question is, since they have already gotten a case number, don't I have to complete the report since the case number has been applied for?
 

liznindy

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Indiana
Not necessarily, I have an FHA on hold presently which will likely be canceled.

Still, I will charge for my time and work involved to date :!:
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Call your HOC.
as with most FHA work the answer is 'it depends'.

I would call and document the call for MY records. :twisted:
 

David Mullen

Junior Member
Joined
Jan 17, 2002
I would want to be paid before I ever told them anything like that. Sounds like the prelude to a cancellation.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Sometimes on those type deal, my clients (regulars that I know and trust) want the VC's with all the checks marked, the photos, and my bill. Then they will forward the repair requirements to the owner/borrower with a fix it or else rejection.
 

David S. Roberson

Senior Member
Gold Supporting Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
Tom;

Sounds like Mr. Mortgage Broker wants you to inspect the property for free if he can't make a deal & get a commission. For all our sakes, JUST SAY NO!
 

Will Trueheart

Sophomore Member
Joined
Feb 18, 2003
I agree with M Leggett. It depends upon the relationship you have with your client and what they need.

Payment of your fee is a seperate issue. It's your responsibility to charge what you deem appropriate.

Just my $0.02
 

Rob Bodkin

Junior Member
Joined
Nov 9, 2002
Professional Status
Certified Residential Appraiser
State
Washington
I think I'm missing something here.

If you "decline the assignment" after the inspection and figure out some type of a "trip fee" because the repairs will torpedo their deal are you not then accepting the assignment with a pre-determined objective/conclusion?

The other, larger issue is that when we "give them a heads up" and charge a trip fee in this situation, they are probably going to get a 2nd opinion. If you were the broker wouldn't you?

The problem there is that if you do not complete the job, then there is no record of the problems with the house. What is to keep the client, even your "good, honest" clients from getting that second opinion from someone who is an FHA approved appraiser with a more "liberal" take on the repairs.

I know that I have heard over the past 12 months a few times "you know that FHA is not reviewing theses anymore, can't we just let that little issue slide?"

When I complete the first appraisal, with the case number, it goes with the house, regardless of the broker/lenders desire to skirt the inspection issue.

My 2 cents

Rob Bodkin
Freestone Partners
 
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