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FHA 203k New And Increased Contractor Estimate After Appraisal Completed

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emily shaw

Freshman Member
May 12, 2005
Professional Status
Licensed Appraiser
I did an FHA 203K appraisal last month utilizing a contractor list of proposed improvements dated 08/05/2016 in the amount of $33,900. This evening, the lender sent a revision request through Mercury Network with a completely different contractor estimate dated 01/03/2017 in the amount of $48,923. The lender's request was: "Please add work write up to report to the appraisal".

I see this as a problem as this cannot be included in the original appraisal as it is materially quite different, after the effective date, and this is an FHA 203K. I am wondering if anyone else has had such a request. This is a first for me in nearly 30 years. I am not about to do this but want to be courteous and professional.

glenn walker

Elite Member
Oct 11, 2006
Professional Status
Certified Residential Appraiser
** I tend to agree with you but you never know ** There have been situations when the original work estimate was found to be too low and as long as you are not changing your appraised value it may be OK with a new signature date but make sure you include an addendum stating the report was revised on Date _______ due to receiving a new contractor work estimate but the original appraised value is the same.

*** BUT I would contact your HOC first just to make sure it's OK and if they say it can't be done then at least you will have a source and contact person to refer to the AMC.
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