FHA Septic & Well Appraiser Lawsuit

[Fernando]

I have horrible one right now. Way over improvement for the whole area. I asked homeowner if they won the lottery or something. Like 9,000 sq ft house amid 1500 to 2,000 sq ft houses. Yeah. Lender said just jump to different neigborhoods and make location adjustments. Many houses may be like 1200 sq ft.

Make your lender happy!

 

[Zoe]

I have already explained to homeowner the problem is their land value as if vacant compared to competing neighborhoods for a 9,000 sq ft house.

 

[Zoe]

We do have lots "as if vacant" in neighborhoods where the lot as if vacant is worth well over $1 million some maybe $2 million. Big houses. But not in the subject neighborhood.

 

[Zoe]

I don't really even think they are borrowing over like probably $50,000. I'll find out. My client is well secured.

It is paid for right now and they have had it a long time and kept building on. Should have met me a long time ago. I could helped them on their investment.

 

[Huds_Harm]

I agree you were screwed by an incompetent appraiser checking the wrong box, but lets step back and say what if the appraiser had checked W&S? If the inspector couldn't locate the septic, how do you expect the appraiser to do that? If the appraiser didn't see and obvious evidence of a problem (odor, water pooling on ground, etc...), then there is nothing to report. As far as distances, read the above very carefully....HINT: It's the LENDERS job to verify distances. You got caught in a "catch 22" because the appraiser checked the wrong boxes and the lender failed to catch it. I hope it works out for you.

You obviously missed the part that the septic was not only located prior to appraisal, it was left uncovered 10 ft from the front door that the appriaser had to physically walk by to get into the home as well as she took a picture of the water well storage tank (which differs from a water heater because it has a pump on it)

Oh and you have yet to provide an idea of why she went AGAINST what it was listed as, well and septic. Maybe because of the loophole the lender is using to just mark it public to close the loan without the required verifications.

and HINT this was the requirement from the AMC had the appraiser not went AGAINST what it was listed as.

8Does the report indicate that the sewer is private? If yes, does the
appraiser provide a comment on the availability of public sewer and
if the subject is required to connect? If also on private water, is
there a comment noting if the subject meets the minimum FHA
distance requirements from the well to the storage tank, drain field,
and property? Also, does the appraiser comment if private utilities
are common for the area and if there is any impact on the subject's
marketability?

 

[glenn walker]

You must have a terable attorney- Fire him-her and get a new one

 

[Meandering]

You obviously missed the part that the septic was not only located prior to appraisal, it was left uncovered 10 ft from the front door that the appriaser had to physically walk by to get into the home as well as she took a picture of the water well storage tank (which differs from a water heater because it has a pump on it)

Oh and you have yet to provide an idea of why she went AGAINST what it was listed as, well and septic. Maybe because of the loophole the lender is using to just mark it public to close the loan without the required verifications.

and HINT this was the requirement from the AMC had the appraiser not went AGAINST what it was listed as.

8Does the report indicate that the sewer is private? If yes, does the
appraiser provide a comment on the availability of public sewer and
if the subject is required to connect? If also on private water, is
there a comment noting if the subject meets the minimum FHA
distance requirements from the well to the storage tank, drain field,
and property? Also, does the appraiser comment if private utilities
are common for the area and if there is any impact on the subject's
marketability?

View attachment 81132

and you knew the septic was only 10 feet from the front door,
yet, did not get it inspected
and did not have the water tested.

The issue between the lender and the appraiser does not relive you of your own due diligence. You closed the sale knowing the septic was 10 feet from the front door.

.

 

[Huds_Harm]

and you knew the septic was only 10 feet from the front door,
yet, did not get it inspected
and did not have the water tested.

The issue between the lender and the appraiser does not relive you of your own due diligence. You closed the sale knowing the septic was 10 feet from the front door.

.

Good try.

While the FHA does not require home inspections, they do require an appraisal. This appraisal has an inspection component. An FHA-approved appraiser will visit the property and perform the inspection, checking to see that the home meets the FHA's Minimum Property Standards.

https://mortgagesolutions.net/2022/...oes not,the FHA's Minimum Property Standards.

 

[glenn walker]

Good try.

While the FHA does not require home inspections, they do require an appraisal. This appraisal has an inspection component. An FHA-approved appraiser will visit the property and perform the inspection, checking to see that the home meets the FHA's Minimum Property Standards.

https://mortgagesolutions.net/2022/...oes not,the FHA's Minimum Property Standards.

It really doesnt matter if your 200% right- You need someone with deep pockets to sue and so far you have not named who that party is. You can cite FHA 4000.1 for 100 years and it doesnt change who is the person you are going to sue and get some money out of ? Tell us who is that person or entity ?

 

[Huds_Harm]

It really doesnt matter if your 200% right- You need someone with deep pockets to sue and so far you have not named who that party is. You can cite FHA 4000.1 for 100 years and it doesnt change who is the person you are going to sue and get some money out of ? Tell us who is that person or entity ?

The person or person's responsible for ensuring the property met the requirements for the loan.