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FHA Final/other Changes

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Junior Member
Jun 6, 2008
Professional Status
Certified Residential Appraiser
Rhode Island
I received a request to do a FHA final inspection on a property where one of the items I flagged was removal of mold on some of the finished basement walls. For some reason they decided to totally gut the finished basement area. So while there is no mold present anymore, there is also no finished basement anymore. Since the basement was finished as of the effective date of the original appraisal, it was given value. Now that it is not, how should I go about this? Simply check the box that all conditions have been met and disclose that the basement is no longer finished? Is there any thing else anyone recommends that I do?


Elite Member
May 16, 2005
Professional Status
Certified General Appraiser
I would not complete the 1004D as-if the condition was met and everything else is fine.
The improvement (based on your description) has significantly changed such that it would likely impact value (or, at a minimum, the value should be re-analyzed).

I think you need to discuss this with your client.
If I were the client, I'd ask for a new appraisal due to the material changes.

Good luck!
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