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FHA Condo Question

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G-man

Thread Starter
Member
Joined
Feb 4, 2002
Professional Status
Licensed Appraiser
State
Ohio
I am currently completing an FHA report on a condo. There are no repair or inspection issues. However, this condominium development is not on the FHA approved list. For that matter, no development in the Toledo Area is on their list. Does this mean FHA will not lend on this unit? Should I stop and tell the client or just proceed and let God and FHA sort it out.
Just another late report in a growing stack. Thanks for the replies.
 

tjcou812

Junior Member
Joined
Aug 17, 2007
Professional Status
Certified Residential Appraiser
State
Connecticut
G-Man
The last I knew its not the appraisers responsibility to see if the complex is on the list its the lenders.They are required by HUD to give you the complex FHA # when they order the appraisal(it never happens) I think the lender can request it be placed on the list during the appraisal process.
 

Dennis

Sophomore Member
Joined
Jan 17, 2002
Professional Status
Licensed Appraiser
State
Alabama
If its not on the list, don't do the appraisal! If its not on FHA's list they won't do the loan, and you'll get stiffed on the appraisal fee.
 
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