FHA requirments

[J Grant]

Anyone remember the days when FHA reports required VC sheets? I miss them - lent the report a structure, and the VC yes no clear to readers, imo made it easier for appraisers not having to refer back to handbook and decide .

 

[Tom D]

Anyone remember the days when FHA reports required VC sheets? I miss them - lent the report a structure, and the VC yes no clear to readers, imo made it easier for appraisers not having to refer back to handbook and decide .

just to add to that. HUD gave you a grade on every report you did. you always got a better grade when the vc sheet had more repairs than less.
also, in those days FHA appraisers were rotated with orders.
i keep it simple to. have my repairs right under the FHA intended user & concessions comments, etc. make it easy for the underwriter to find.
funny thing about the roof comment. i do mostly flat roofs. they told me that i have to write that the 'flat roof could not be observed' and then i say no leaks were noticed inside dwelling.

 

[jay trotta]

Jay, In my reports I have all of the above commentary in an FHA commentary section with the the first paragraph as a disclaimer of sorts. Do you think it needs to be more specific wording? Maybe specifically state that the casual observation appplies to the entire section or report?

May or may not -why state it ? KISS methods have been used for years......why change ??
Search thru your software forms, look for an Old Environmental Addendum - just peek at the "simplicity", then employ it in your work.
Good Luck

 

[RSW]

VC sheets. Those were the days.

 

[bnmappraisal]

This is from a recent FHA I did. It was for a purchase and the contract had an addendum with items to be completed - some of which were FHA specific (i.e. peeling paint - built before 1978, smoke detectors, damaged shingles, split roof truss)

I scanned the addendum into my report and had this for my commentary:
Note: At time of inspection, I was presented with an addendum to the contract having agreed upon repairs/replacements to be made to the subject property (see attached Addendum to Contract). This report is made SUBJECT TO those items being repaired/replaced/completed.

The subject will meet FHA minimum property standards/requirements as set out in 4000.1 HUD handbook once the items are repaired/replaced/completed.

A head and shoulders observation of the attic was conducted. The subject has no crawl space; slab foundation.

Utilities (water & electric) and mechanicals are on and functioning at time of inspection. The subject's range and refrigerator appliances observed functional.