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FHA Final, did not do original appraisal

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Scott Brooks

Thread Starter
Sophomore Member
Joined
Nov 4, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
I received an FHA final inspection request for an appraisal that I DID NOT do. It was completed "subject to" utilities being on. Apparently the original appraiser is on vacation, even though the inspection date was only 3 days ago. I thought I remembered reading a forum on the same subject, but cannot find it. I do not believe that post referred to an FHA request.

Can another appraiser complete an FHA request with a case number linked to the original appraiser? I am stuck between reality and confusing myself. Its been a long week. Any feedback would be appreciated.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Certified Residential Appraiser
State
California
Refer to ML 2009-51 (this ML has been updated with regard to using the 1004D as an update - very important).

http://www.HUD.gov/offices/adm/hudclips/letters/mortgagee/files/09-51ml.pdf

Part B/Completion Report
1. To report the completion of a repair and/or the satisfaction of requirements and conditions
noted in the original appraisal report referenced in the header of the Summary Appraisal
Update and/or Completion Report.

Who Can Use the Appraisal Update and/or Completion Report:

Part B/Completion Report
1. The FHA appraiser who performed the original appraisal if currently in good standing on the FHA Appraiser Roster.
2. Any other FHA appraiser currently in good standing on the FHA Appraiser Roster.

How to use the Appraisal Update and/or Completion Report:

Part B/Completion Report
The appraiser must:
1. Review the requirements and/or conditions noted in the appraisal report referenced in the header of the Summary Appraisal Update and/or Completion Report.
2. Check the box applicable to Part B.
3. Perform a thorough inspection of the items noted in appraisal referenced in the Summary Appraisal Report and confirm completion/satisfaction of requirements and/or conditions.
4. Describe the impact on the value of the property if requirements and/or conditions are not completed in accordance with the original appraisal report.
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
Yes you can, but as a business decision, I wouldn't. Fees for finals are typically chump change, why take on the added liability for a fee that typically just about covers your time. I wouldn't get involved in a situation like this unless I agreed with the original report, which means doing a review on that report in regards to value and potential other reparis that might have been missed with the original inspection. The typical fee barely covers the final effort let along doing a review of the report to know what one is getting into.
 

Scott Brooks

Thread Starter
Sophomore Member
Joined
Nov 4, 2004
Professional Status
Certified Residential Appraiser
State
Indiana
That was part of my thought process was liability extended to me. They did send me a copy of the report to review. Do I just ask for full appraisal fee since I am assuming a liability? They did offer me $175. Which is better than a typical final fee. The report doesn't look that bad. It is a 10 yr old house in a pretty decent suburban neighborhood. Nothing too crazy or risky.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Yes you can, but as a business decision, I wouldn't.
Since you are required to review and basically sign onto the report, I would get a typical review fee - no less.
 

Riick

Elite Member
Gold Supporting Member
Joined
Aug 14, 2007
Professional Status
Certified Residential Appraiser
State
Delaware
You are not passing any judgment on the house, or any other repairs that it might need.
That is/was the original appraiser's job.
You are only looking to see if the repairs called for were completed, in a good & workmanlike manner.
I've done them where all the repairs were exterior, and I never went inside the property;
there could have been a fire, followed by a flood, and who knows what else; no matter
I was looking to see that the garage paint was scraped & then repainted. End of story.

.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
You are not passing any judgment on the house, or any other repairs that it might need.
That is/was the original appraiser's job.
You are only looking to see if the repairs called for were completed, in a good & workmanlike manner.
I've done them where all the repairs were exterior, and I never went inside the property;
there could have been a fire, followed by a flood, and who knows what else; no matter
I was looking to see that the garage paint was scraped & then repainted. End of story.

.
I agree with you!
 

Aprazr

Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Texas
So, just curious, I am a Certified FHA Inspector and getting a LOT of calls to do FHA-CIR's lately.....so how can an FHA Appraiser that is NOT an FHA Inspector do these?

Just curious.....must be for HUD and New Construction (that is all I am getting) only that requires a Certified FHA Inspector (???) Guess it is ok for the original Appraiser to do Existing construction (???)

'Blessings'
Gregg
 

TJSum

Elite Member
Joined
Nov 12, 2007
Professional Status
Certified Residential Appraiser
State
Maryland
You are not passing any judgment on the house, or any other repairs that it might need.
That is/was the original appraiser's job.
You are only looking to see if the repairs called for were completed, in a good & workmanlike manner.
I've done them where all the repairs were exterior, and I never went inside the property;
there could have been a fire, followed by a flood, and who knows what else; no matter
I was looking to see that the garage paint was scraped & then repainted. End of story.

.
So when you conduct a final on someone else's report, and see a FHA required repair that the original appraiser missed, what do you do, ignore it? :shrug: I can hear the lender client, borrower and HUD now, shesh, two FHA appraisers viewed the property and both missed it...
 
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