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Comparable rental photo's
- Thread starter Samuel
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CANative
Elite Member
- Joined
- Jun 18, 2003
- Professional Status
- Retired Appraiser
- State
- California
I do.
FHA Minimum Photograph Requirements
Photograph Exhibit
Minimum Photograph Requirement
Subject Property Interior
• Kitchen, main living area, bathrooms, bedrooms
• Any other rooms representing overall condition
• Basement, attic, and crawl space
• Recent updates, such as restoration, remodeling and renovation
• For two- to four-unit Properties, also include photographs of hallways, foyers, laundry rooms and other common areas
Comparable Sales, Listings, Pending Sales, Rentals, etc.
• Front view of each comparable utilized
• Photographs taken at an angle to depict both the front and the side when possible
• Multiple Listing Service (MLS) photographs are acceptable to exhibit comparable condition at the time of sale. However, Appraisers must include their own photographs as well, to document compliance
Subject Property Deficiencies
• Photographs of the deficiency or condition requiring inspection or repair
Condominium Projects
• Additional photographs of the common areas and shared amenities of the Condominium Project
Of course Econoblot will tell you something different.
FHA Minimum Photograph Requirements
Photograph Exhibit
Minimum Photograph Requirement
Subject Property Interior
• Kitchen, main living area, bathrooms, bedrooms
• Any other rooms representing overall condition
• Basement, attic, and crawl space
• Recent updates, such as restoration, remodeling and renovation
• For two- to four-unit Properties, also include photographs of hallways, foyers, laundry rooms and other common areas
Comparable Sales, Listings, Pending Sales, Rentals, etc.
• Front view of each comparable utilized
• Photographs taken at an angle to depict both the front and the side when possible
• Multiple Listing Service (MLS) photographs are acceptable to exhibit comparable condition at the time of sale. However, Appraisers must include their own photographs as well, to document compliance
Subject Property Deficiencies
• Photographs of the deficiency or condition requiring inspection or repair
Condominium Projects
• Additional photographs of the common areas and shared amenities of the Condominium Project
Of course Econoblot will tell you something different.
friendlyeddie
Junior Member
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- Mar 30, 2010
- Professional Status
- Appraiser Trainee
- State
- Pennsylvania
Yes
Samuel
Freshman Member
- Joined
- Jun 29, 2020
- Professional Status
- Certified Residential Appraiser
- State
- Washington
I guess I should have stated for VA Appraisals. I can not find anything within the VA guidelines that states you have to take comparable rentals. You don't even have to take comparable listing, but it is encouraged.
bnmappraisal
Elite Member
- Joined
- Nov 9, 2011
- Professional Status
- Certified Residential Appraiser
- State
- Florida
You can do the bare minimum or you can ....
Tim The Enchanter
Elite Member
- Joined
- Jan 24, 2002
- Professional Status
- Certified Residential Appraiser
- State
- California
yes.
CANative
Elite Member
- Joined
- Jun 18, 2003
- Professional Status
- Retired Appraiser
- State
- California
Why are we doing a rent survey for a VA loan? VA loans are used to finance owner-occupied homes and are not available to finance investment property, a vacation or a second home.
Since this is an add-on to the VA appraisal (for whatever reason) is there even a requirement to inspect the rent comparables from the street? And if not, then an MLS photo would work. The VA handbook does not mention photographic requirements for rent comps.
Since this is an add-on to the VA appraisal (for whatever reason) is there even a requirement to inspect the rent comparables from the street? And if not, then an MLS photo would work. The VA handbook does not mention photographic requirements for rent comps.
CANative
Elite Member
- Joined
- Jun 18, 2003
- Professional Status
- Retired Appraiser
- State
- California
VA Pamphlet 26-7,
Revised Chapter 2: Veteran’s Eligibility and Entitlement 2-19
7. Misuse of Veteran’s Entitlement
Change Date December 26, 2012, Change 22
•This section has been updated to make minor grammatical edits and add a hyperlink.
a. What Constitutes Misuse?
A basic requirement of the law governing the VA home loan program is that the veteran has a bona fide intention of occupying his or her property as a home. Home loan entitlement is not being used properly if the veteran arranges to sell or convey the property to a third party prior to closing the loan.
b. What to Do
Contact the VA Regional Loan Center with jurisdiction over the loan for advice regarding any case in which there may be a question regarding the legality of entitlement use.
Revised Chapter 2: Veteran’s Eligibility and Entitlement 2-19
7. Misuse of Veteran’s Entitlement
Change Date December 26, 2012, Change 22
•This section has been updated to make minor grammatical edits and add a hyperlink.
a. What Constitutes Misuse?
A basic requirement of the law governing the VA home loan program is that the veteran has a bona fide intention of occupying his or her property as a home. Home loan entitlement is not being used properly if the veteran arranges to sell or convey the property to a third party prior to closing the loan.
b. What to Do
Contact the VA Regional Loan Center with jurisdiction over the loan for advice regarding any case in which there may be a question regarding the legality of entitlement use.
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