Change in FHA Purchase Price AND FHA number

[Xavier Hargrove]

Hello all,

Just wondering if anyone has run into this? I turned in an appraisal, which came in higher than the purchase contract, still felt confident about it high confidence interval, data supports, and adjustments only on sqft and land size in comparables. The lender came back and requested the purchase contract be changed and added a new FHA case number. To my understand FHA guidelines would have me include the changed in additional comments but leave the original purchase price in the Contract section of the report. But what if they request to Change the FHA number? New appraisal? Does this warrant a changed to the contract price? Any thoughts would help.

 

[glenn walker]

Sounds like a new appraisal not a update but can you just do a new one for a minimal fee to re do with the new Case# and change in price. ?

Or talk to lenders Underwriters and get a clearer picture. Finally call your Hoc give them the New # Case Number and ask for clarification. No easy answer on this one.

 

[Tom4value]

I agree with Glenn. A change in FHA case number only happens when the borrower and/or the property changes. Not the sales price. I think the lender messed up.

 

[Non Sequitur]