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Current FHA Flipping Rule And The Appraisal Timeline!

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Midwest Guy

Senior Member
Joined
Dec 12, 2006
Professional Status
Certified Residential Appraiser
State
Missouri
I just got an FHA order and the property transferred 60 days ago, I believe the ninety day rule is back into effect for FHA?

Since appraisers are supposed to know this and we state eligibility of the property, do we instruct lender to wait for the ninety days, or perform the appraisal now?
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
So if it takes another 30 days to close, its eligible.
 

glenn walker

Elite Member
Joined
Oct 11, 2006
Professional Status
Certified Residential Appraiser
State
California
As long as you have a case # Just do the appraisal and if it requires 90 days then so be it or if you don't feel comfortable inform the lender and see if they want you to proceed ?
 

Vermonter

Senior Member
Joined
Mar 21, 2007
Professional Status
Certified Residential Appraiser
State
Vermont
I usually give my client a heads up on the prior transfer date, if I discover it before inspection. Other than that it's their problem.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
So if it takes another 30 days to close, its eligible.
Nope...the 90 day FHA anti-flipping rule is based on the contract date, not the closing date.
 
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