FHA New Construction - fridge not yet installed

[Zoe]

Okay, the builder has a warranty on the buyer. Think about that. I read your post again.

Don't worry about the refrigerator.

 

[Zoe]

You would literally have to be in Q2 or higher quality construction to be concerned about construction and a refrigerator. You could be on thousands of dollars that are considered real property.

The builder would still warranty it.

 

[JLuther]

I am appraising a new build FHA townhome where all appliances except the fridge have been installed. As I understand it, appliances are required to be installed and operational if they contribute to market value. The fridge and blinds are to be installed closer to closing. As this is a new home with the fridge in the contract, it seems that the fridge does add to the value. My question is if I need to reinspect just to confirm that the fridge is installed or simply note that it has yet to be installed.

In my opinion, considering there's no value to a refrigerator being personal property, the estimated final value of the subject is not impacted by the lack of a refrigerator. Therefore, it should not be required to be installed, even though it's noted in the sales contract.

 

[Zoe]

WE have common goal. Correct?

 

[Zoe]

If you get in real high-income territory, the client isn't worried about the refrigerator. ......,
These are cheap compared to some:

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[Zoe]

In some business, there is no telling how many thousands or millions of dollars the refrigerator cost?

Does that become real property? Most likely in my appraisal.

It is furniture, fixtures, and equipment that is attached to real property.

 

[Zoe]

Like marriage in some ways. Blood covenant. Your attached by blood covenant.

I appraise real property rights. Got it?

 

[Zoe]

Trust me bank will make sure their lien on any and all is secured lien. I know more than you think.

The playing stupid helps me and many others. Public trust.

 

[Zoe]

I am bad old man with tons of knowledge at this point in time.
Not biased on prohibited basis. But dangerous because of knowledge I have accumulated.

 

[Fernando]

Usually, a refrigerator is considered personal property. I have let many properties go without one, even for FHA. However, if it is noted in the P&S, I do condition for it, as I know that the underwriter will.

Fridge is personal property and not a fixture. When median price here is $2 million dollars, a fridge is insignificant.