Client Overstepping with Borrower's?

[Artemis Fowl]

If the lender wants to pay you to verify the location of personal property...sounds like easy money to me.

 

[Zephyr999]

You created this problem for this older couple by calling it a bedroom in the first place. If you had called it a bonus room they would not have to move the bed out.

Now you want to screw up their loan by arguing with client about going out there /over reach? Just do it and put it behind you

Where is this an appraiser's problem? He reported it was not given any consideration as a bedroom.

 

[Tom D]

i avoid calling a finished basement a bedroom. would you call it a dining room if there was a table & chairs. somehow the bed never shows up in my photo.
you then have to waste time over nonsense.

 

[J Grant]

Where is this an appraiser's problem? He reported it was not given any consideration as a bedroom.

Not everything is about value. For FHA they have minimum window height from floor and lenders have a requirement for windows able to escape from in a bedroom. By calling a basement room with tall high windows a bedroom it now does not pass MPR for FHA safety so the easiest solution is take the bed out.

I call rooms like this a bonus room or flex use room and comment it is a flex use room that owner is storing a bed in.

 

[CGinMN]

There are homes with no egress windows. 0 bedroom home?

 

[Fernando]

You created this problem for this older couple by calling it a bedroom in the first place. If you had called it a bonus room they would not have to move the bed out.

Now you want to screw up their loan by arguing with client about going out there /over reach? Just do it and put it behind you

I agree. Should not have called it a bedroom. Was there a reason you called it a bedroom? Inquiring minds like me and your client are wondering.
I'd seen Dining Rm with a bed and I don't call it a Bedroom.
Client wants to make sure that room with unsafe egress is not used as a bedroom and evidence of bed should not be in the photo.
If fire or something bad happens, client/lender wants no part with occupants using that room as a bedroom.

 

[Overimprovement]

The OP's question was NOT "what should I have called the room to begin with". I am sure it is lesson learned on OP's part. But I agree it is ridiculous the lender/AMC is asking this. People will sleep wherever they want. A bed in a room does NOT make it a bedroom. If there is a sleeping bag on the floor, does that make it an unloanable property too?

Not sure I read anywhere--is this a purchase or refi? If a purchase--point out the absurdity of the request and be done. If a refi, ask them the HUD code section that is requiring this, because I think its a bogus request.

 

[Fernando]

Decades ago, I had a reviewer calling me out because they saw a ladder leaning against the exterior side of the house (USPAP didn't tell me this).
Reviewer wanted me to make a comment that there was no work being done to the house and also to take a photo without the ladder.
I abide to what the reviewer wanted.
Since then whenever I see a ladder against the house, I (and if need owner's help) move the ladder out of the photo.
I take the photo and owner can put ladder wherever he/she wants afterwards.
No more problems ever since.
OP will learn from this experience and should move on.

 

[J Grant]

The OP's question was NOT "what should I have called the room to begin with". I am sure it is lesson learned on OP's part. But I agree it is ridiculous the lender/AMC is asking this. People will sleep wherever they want. A bed in a room does NOT make it a bedroom. If there is a sleeping bag on the floor, does that make it an unloanable property too?

Not sure I read anywhere--is this a purchase or refi? If a purchase--point out the absurdity of the request and be done. If a refi, ask them the HUD code section that is requiring this, because I think its a bogus request.

It does not matter whether a purchase or refi, the appraisal value is based on a presumed hypothecia "sale " of the subject

HUD/FHA has the same requirements for a property safety and soundness regardless of a refi or sale.
People will sleep wherever they want - so what, the subject is appraised as though vacant for transaction and certain rooms have to meet certain criteria esp for HUD/FHA. Does not matter if You think it is ridiculous of the lender to ask this - well without it being done the people will not get their loan.

 

[J Grant]

The OP's question was NOT "what should I have called the room to begin with". I am sure it is lesson learned on OP's part. But I agree it is ridiculous the lender/AMC is asking this. People will sleep wherever they want. A bed in a room does NOT make it a bedroom. If there is a sleeping bag on the floor, does that make it an unloanable property too?

Not sure I read anywhere--is this a purchase or refi? If a purchase--point out the absurdity of the request and be done. If a refi, ask them the HUD code section that is requiring this, because I think its a bogus request.

A bed in a room does not make it a bedroom. An appraiser calling it a bedroom in teh report and sketch makes it a bedroom to the UW. And a bedroom has to meet certain criteria to get the loan, mainly adequate access to outside (window or sliding door per their min requirements for it )