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FHA Question #1

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mldurkin

Thread Starter
Freshman Member
Joined
Mar 13, 2008
Professional Status
Certified Residential Appraiser
State
Ohio
Answer or Reference Please

What Steps should an appraiser take when the property is vacant and the utilities are off.

I am getting confilicting answers and can't find the direct reference.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
Answer or Reference Please

What Steps should an appraiser take when the property is vacant and the utilities are off.

I am getting confilicting answers and can't find the direct reference.

You might get more responses if you posted this in the FHA Forum.

You should let the person you contact for entry know that you will need to inspect with the utilities on. If not, make it subject to a reinspection with utilities on and make a few extra bucks.

Referrence is FHA Handbook 4150.2
 

mldurkin

Thread Starter
Freshman Member
Joined
Mar 13, 2008
Professional Status
Certified Residential Appraiser
State
Ohio
That is one of the conflicting answers--- but no reference to cross check does not clarify....
Some have said to return appraisal until the utilities are on (since a complete inspection can not be done) and some have said complete "as repaired" for a utility inspection by an inspector or a reinspection by the appraiser??
 

Doug Meyer

Senior Member
Joined
Sep 13, 2003
Professional Status
Certified Residential Appraiser
State
Indiana
Do not forget to open/close windows, check electrical outlets, look for damage around the toilet, look into the crawl space and take photos and go into the attic and take photos.
 

George Ellerman

Senior Member
Joined
Feb 21, 2005
Professional Status
Licensed Appraiser
State
Ohio
Answer or Reference Please

What Steps should an appraiser take when the property is vacant and the utilities are off.

I am getting confilicting answers and can't find the direct reference.

Before this goes any further please realize that their is no more test requirement. Please get informed about FHA !
 

George Ellerman

Senior Member
Joined
Feb 21, 2005
Professional Status
Licensed Appraiser
State
Ohio
That is one of the conflicting answers--- but no reference to cross check does not clarify....
Some have said to return appraisal until the utilities are on (since a complete inspection can not be done) and some have said complete "as repaired" for a utility inspection by an inspector or a reinspection by the appraiser??

Listen up ! There is no more exam requirement for FHA ! You're making yourself look silly.
 

Karl

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Arizona
Do not forget to open/close windows, check electrical outlets, look for damage around the toilet, look into the crawl space and take photos and go into the attic and take photos.

Some will laugh BUT remember this is the government & they're here to help. So as you do an FHA Especially the newest approved FHA Appraiser's (why you think they made it so easy to become a FHA Appraiser?) & say well they're the NEW Subprime lender & they say they're not as strict as they once were. REMEMBER!! the Handbook & the VC sheets are STILL available & are actually inforce for the Appraiser in the EVENT the borrower goes south before paying the government.

BUT why should anyone care?? Most don't believe anything will ever happen to an Appraiser. I bet the Governor of NY with his credentials thought he was untouchable.
 

Doug Meyer

Senior Member
Joined
Sep 13, 2003
Professional Status
Certified Residential Appraiser
State
Indiana
Had an appraiser tell me a few years ago he did not report a broken window and the reviewer came out, caught the error and he got in trouble with FHA about it. He would not do FHA after that.
 
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