Crawl Space Inspections

[Pam Wyant]

Great discussion.

Sure would be nice if FHA would require all of their insured loans to have home inspections, and let us appraiser's do what we are supposed to do - determine value.

 

[Jerry Still]

Amen, Mike

I was a FHA (Chums #9628) approved appraiser from 1992 to about 1999 or 2000? When they started that crap about appraisers being held and signing for liability. That would allow some buyer whose roof leaked 3 years after they closed on the home to include the appraiser in a law suit alone with the previous owner, listing & selling real estate agent and the home inspector. If the courts could'nt find the previous owner, or the agents have retired/died, and the inspector moved out of state...guess who's left? Michigan has a law "Deep pockets" that says if three people are each 32% libel but uncollectable, the fourth person thats only 4% libel but collectable...gets shafted!

At that time the mortgage companies didn't want to pay any more money for the extra paper work and liabilty of a FHA appraisal....do they now? I told them all, they could kiss me where sun don't shine...I did mean my lilly white behind. It took awhile, but I replaced those FHA type lenders with conventional mtge only lenders and never looked back. If enough appraisers refused to crawl in the bugs and bump there heads on nails in the attic. They might put the weight on the home inspectors...where it belongs!
Enough said, Florida Jerry

 

[Mike Garrett RAA]

To make matters worse, new appraisers are doing FHA appraisals in my market for as little as $200. Let them have them! I don't want the liability anyway.

Youse guys can tromp through attics all you want...not me. Had an appraiser call me because he fell through the sheet rock and wanted to know if he was responsible for the damage. Uh huh.

Nice to know cable installers turned appraisers don't mind slithering around in crawl spaces like snakes. Ain't my job and I am not going to do it. Think I will have


"readily observable"

tattooed on my forehead.