Confirm That Utilities Are "on And Working"

[Have Laser-Will Travel]

Water runs and light bulbs glow. That All I originally said. The word utilities was never used no matter how many times you try to say it was. The only dilemma is the one you are trying to construct. Apparently you didn't notice that I was trying to satisfy the client without sticking my azz out. Make it as complicated as you like. I'll keep it simple.

The issue I raised was about the meaning and implications of the assignment requirement. Your offering is about how you avoid the requirement. So when i ask you to address the terms of the requirement, you revert to using language to avoid the requirement. I understand that but, this is a little bit of a different conversation.

 

[Tim The Enchanter]

All utility lines are disconnected. Windows and doors are "boarded" up with high security metal screens.
No squatters in the house at time of inspection.
RE agent got them to leave as I waited in the car.

 

[Have Laser-Will Travel]

All utility lines are disconnected. Windows and doors are "boarded" up with high security metal screens.
No squatters in the house at time of inspection.
RE agent got them to leave as I waited in the car.

Ha! I'm Paula recently-not-in-LA-anymore!

 

[TRESinc]

You should also be adding that your client and ONLY your client should rely on your report for the purpose of making a lending decision.

nice thought but doing that goes directly against cert 23, which you can't do...

23. The borrower, another lender at the request of the borrower, the mortgagee or its successors and assigns, mortgage
insurers, government sponsored enterprises, and other secondary market participants may rely on this appraisal report as part
of any mortgage finance transaction that involves any one or more of these parties.

 

[Riick]

nice thought but doing that goes directly against cert 23, which you can't do...

You're too old to be a Boy Scout; of course you can do exactly that, and if they accept and use the report, rather than reject it and look for a revised report, the contradiction may serve to protect your butt.
Or not. Got *good* attorney, or a hack?
.

 

[TRESinc]

You're too old to be a Boy Scout; of course you can do exactly that, and if they accept and use the report, rather than reject it and look for a revised report, the contradiction may serve to protect your butt.
Or not. Got *good* attorney, or a hack?
.

have you ever completed an appraisal on a 1004? do you ever read what you certify? it's right there at the top of page 3...

This appraisal report is subject to the following scope of work, intended use, intended user, definition of market value,
statement of assumptions and limiting conditions, and certifications. Modifications, additions, or deletions to the intended
use, intended user, definition of market value, or assumptions and limiting conditions are not permitted. The appraiser may
expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal
assignment. Modifications or deletions to the certifications are also not permitted. However, additional certifications that do
not constitute material alterations to this appraisal report, such as those required by law or those related to the appraiser's
continuing education or membership in an appraisal organization, are permitted.

it doesn't matter if the client accepts and uses the report or not, they did not prepare it and they are not subject to the certification contained in the report. the appraiser is.

You should also be adding that your client and ONLY your client should rely on your report for the purpose of making a lending decision.

is modifying cert 23 on the report, which an appraiser is not allowed to do.

 

[Mike Garrett RAA]

While I like saying "observation" until the form eliminates "inspection" I will say..."appraisal inspection". I also believe there could be a big difference between something being functional and something being in working condition.

 

[bnmappraisal]

I think this whole "requirement to state" whether the utilities are on and functioning/working (whatever term you/they want) is part of the whole pendulum swinging the other way.

Years ago (roughly 8-10) it was only required for vacant properties or FHA. It seems around 5 yrs ago (give or take) many lenders/AMCs started making it SOP for ALL properties and financing types.

Personally I find it ridiculous and overkill. But at the end of the day, if I accept the assignment and this is a requirement of said assignment, then I have accepted to said conditions.

 

[TRESinc]

I think this whole "requirement to state" whether the utilities are on and functioning/working (whatever term you/they want) is part of the whole pendulum swinging the other way.

Years ago (roughly 8-10) it was only required for vacant properties or FHA. It seems around 5 yrs ago (give or take) many lenders/AMCs started making it SOP for ALL properties and financing types.

Personally I find it ridiculous and overkill. But at the end of the day, if I accept the assignment and this is a requirement of said assignment, then I have accepted to said conditions.

excellent common sense point (bolded) my friend

i agree, but it is not limited to the "other" side. doing review work i often see appraisers commenting on "exceeding the single like 10% adjustment" which does not apply to FNMA work. both sides make lots of mistakes daily.

 

[Mr Rex]

It's simple: The utilities were on and working at the time of the appraisal inspection. As others say, take a photo of the lights on and water running as proof. What happens after the effective date of the appraisal is beyond our control. It's like worrying that the house has burned down after you left and before you submit the report. Do you go back and check as CYA? No. So much ado about nothing.