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Documentation HUD 92051 Compliance Inspection

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NC Appraising

Thread Starter
Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Does anyone have any links or can post from the horses mouth (handbook, letters, etc.) about the HUD 92051 form:

Besides MORTGAGEE LETTER 2009-51.


As it pertains to new construction homes. Can the appraiser now fill out the HUD 92051 form for new construction? has any thing changed? What about the 1004D?

Examples:

home was vacant lot when the appraiser received the request.
home under construction when the appraiser received the request.
home is 100% completed and FHA appraisal was ordered.



Got this from a lender:

#6 − FHA Requirements:



Use the FHA Compliance HUD-92051 form on new construction
(one year or less)



An “As-is” FHA appraisal can only be completed when the dwelling meets HUD’s Minimum Property Standards as follows:



New construction must comply with HUD’s minimum property standards (including 24 CFR 200.926D)



Existing construction must comply with HUD’s minimum property requirements (HUD Handbook 4000.1)
 

DWiley

Elite Member
Gold Supporting Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
Does anyone have any links or can post from the horses mouth (handbook, letters, etc.) about the HUD 92051 form:

Besides MORTGAGEE LETTER 2009-51.


As it pertains to new construction homes. Can the appraiser now fill out the HUD 92051 form for new construction? has any thing changed? What about the 1004D?

Examples:

home was vacant lot when the appraiser received the request.
home under construction when the appraiser received the request.
home is 100% completed and FHA appraisal was ordered.



Got this from a lender:

#6 − FHA Requirements:



Use the FHA Compliance HUD-92051 form on new construction
(one year or less)



An “As-is” FHA appraisal can only be completed when the dwelling meets HUD’s Minimum Property Standards as follows:



New construction must comply with HUD’s minimum property standards (including 24 CFR 200.926D)



Existing construction must comply with HUD’s minimum property requirements (HUD Handbook 4000.1)
What you seek is right in the 4000.1. Just Google a PDF copy and search for 92051

upload_2018-2-8_12-33-11.png


upload_2018-2-8_12-33-41.png
 

NC Appraising

Thread Starter
Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
What you seek is right in the 4000.1. Just Google a PDF copy and search for 92051

View attachment 34300


View attachment 34301

Thanks. I already read that. I was hoping for some instructions or docs on saying that the appraiser can now do the final inspection for new construction on the 92051. I could be wrong, but the inspector had to do it before right? Seeking documentation of when that changed. It's been three years since I have been asked to do one and I remember going back and forth with the lender on this issue.

Or is that it?

Have a good one.
 

DWiley

Elite Member
Gold Supporting Member
Joined
Apr 4, 2007
Professional Status
Certified Residential Appraiser
State
Tennessee
Thanks. I already read that. I was hoping for some writings on saying that the appraiser can now do the final inspection for new construction on the 92051. I could be wrong, but the inspector had to do it before right? Seeking documentation of when that changed. It's been three years since I have been asked to do one and I remember going back and forth with the lender on this issue.

Have a good one.
Well, what I posted is from the section describing the forms that the appraiser should use :)
 

NC Appraising

Thread Starter
Senior Member
Joined
Apr 28, 2006
Professional Status
Certified Residential Appraiser
State
North Carolina
Well, what I posted is from the section describing the forms that the appraiser should use :)

I like things clear as mud from the horses mouth. I guess I was not expecting something so clear from FHA. Appraising is a part time gig now, so I do not keep up with things like I used too.

Thanks, you da man. I owe you a cigar.
 

Charles Decker

Sophomore Member
Joined
Nov 16, 2006
Professional Status
Certified Residential Appraiser
State
Arizona
NC, you posted its a part time gig now. You realize that one of the questions on your E&O questionnaire is if at least 80% (I think its 80) of your income is derived from real estate appraising? Not browbeating, just a heads up.
 
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