Compliance Inspection

[DKAYTES]

I just received an order from a client to do a compliance inspection on a property for a reverse mortgage which I DID NOT appraise to begin with. I called the client and asked why they didn't call the original appraiser to do the compliance inspection - their response was they didn't trust him. I can understand if this was a field review with an interior inspection or something along those lines....

I have never been asked to do a final inspection on a property that I didn't inspect to begin with. I asked for a copy of the original report and they told they cannot send it to me. All I got was a hand written laundry list of things to look at. They told me that it is common for this to happen. I never heard of this. I don't think I am comfortable doing this assignment, but hate to tick off the client. Do you guys think this is assignment acceptable to take? I am sure I will need to put some good verbiage to put in the 92051 report and add a addendum with a disclaimer if I decide to take it on. Another thing that has come to mind, the FHA Case number has already been assigned to the original appraiser.

 

[Greg Bell]

Compliance will require the original report.They need to supply the original report with
the MPR repairs indicated.Not a problem for another appraiser to do the compliance report...

 

[Couch Potato]

Tell them you're sorry, but without the original report it is impossible for you to help them. Even with the original report, you ought to be charging an above average fee. Such an assignment is a real mine field of potential problems. It can be done, but I would not.

 

[DKAYTES]

Compliance will require the original report.They need to supply the original report with
the MPR repairs indicated.Not a problem for another appraiser to do the compliance report...

Greg - I agree with you they need to supply the report as I stated. I have been searching though the handbooks and Appendix D publications but can not find if it is actually a requirement they supply the original report. It certainly makes sense to me that they send the report to me. If you or any knows if it is actually a requirement, please forward the link. Thanks

 

[EDWARD BERRY]

Me Thinks All You Need Is The Repair Sheet.
The Valuation Process Has Been Accepted.
You Are Only Being Asked To Confirm Or Deny The Repairs.
Piece Of Cake.
Been That Way For 3o Years.
Keep Kool,
Arkie Ed

 

[Greg Bell]

Why will they not send you the original report???..smells fishy...a handwritten list??...

 

[Mr Rex]

I don't think I would put it on a CIR. They provide you with a list, you provide them with a letter stating that you observed the repairs on the list.

 

[DKAYTES]

Why will they not send you the original report???..smells fishy...a handwritten list??...

I agree. This is why I would like to find something in writting from FHA that states the inspecting appraiser has reviewed the original report or something to that effect.

 

[liberated]

I would require that the entire original report with photos be sent to me. As you are signing the compliance inspection report that all repairs have been made, you are taking full responsibility (liability). I would also up the fee.

 

[Marcia Langley]

I don't think I would put it on a CIR. They provide you with a list, you provide them with a letter stating that you observed the repairs on the list.

Ditto Mr. Rex,


I'd be happy to provide a letter report with photos that documented the status of each item on the list provided.

No way would I report using a form with a check box that said "all repairs complete" for an appraisal I had never seen.

In fact, for myself, I would prefer the laundry list and letter report to ever having seen the original report.

It's a new assignment that does not include an opinion of value. Why tie it to someone else's appraisal report?