Documentation HUD 92051 Compliance Inspection

[NC Appraising]

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]

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

 

[NC Appraising]

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]

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]

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]

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.