• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Compliance Inspection Report

Status
Not open for further replies.

rtubbs

Thread Starter
Junior Member
Joined
Jan 15, 2002
I'm curious to know how others complete Section I and II of the HUD-92051 and whether or not I'm doing it right.

I always check Item 12 in Section I. I list each VC item (from page 4 of the VC Form) in Section II and specify "cleared" or "to be cleared by lender". Somehow, I believe that may be wrong in that item 12 in Section I indicates that you would only list those VC items that are to be cleared by the lender.

Any suggestions for doing it differently?
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
I was told by an underwriter and confirmed with REAC to check #14 and list each item from the VC Sheet. On those items you can clear, state whether they are clear or not. On items you cannot clear, i.e. furnace or electrical issues refer them to the report from the appropriate specialist. This is what I do and to date have had none questioned by the UW. As always, if I get better information I'm open to change. I usually get quick responses from REAC when I call. Customer Service Center (1.888.245.4860). Tech Assistance (1877.406.9220). Good luck.
 

Ted Martin

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified General Appraiser
State
Kansas
I do it in a simlar fashion. I list all of the VC items and either indicate that the work is completed or state that the report or inspection is "By others"
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
For what it's worth, I usually list the items I am "buying off" on the LEFT side of the CIR form and the items the client is responsible for on the "RIGHT" side. Check Item #14
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
Blue 1:

Do you really believe it necessary to make it that simple for an UW.
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks