FHA Septic & Well Appraiser Lawsuit

[Tiffany Gibbons]

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

You are a realtor and the purchaser this was an investment flip on a waterfront, and you should have known better. And that's why you don't live there. Nor your first house either.

 

[gregb]

You are a realtor, this was an investment flip on a waterfront, and you should have known better.

Caveat emptor, a sore loser trying to game the FHA financing programs.

 

[Meandering]

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.

Normal people won't move their families in to a home with onsite well and septic, without at least having the water tested and the septic inspected.

That's your due diligence that you did not do, oh, and you are responsible for. Because, no one would continue to close on a home as their primary dwelling if the water is contaminated the septic is back flowing. That's why FHA and the lenders aren't concerned. If it was to be your primary residence, you would have blew out the deal with failed septic and/or water tests, so the lenders wouldn't have to worry about what the appraiser did or did not state in a report.

But since you didn't blow it out and went to closing, well, you really should be considering what are the requirements for a loan that is NOT for a primary dwelling. Because your actions already indicate you had no intention of living there. Kinda a sticky thing with some mortgaging programs..............


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[Meandering]

https://www.FHA.com/define/home-inspection

Home Inspection​

After your offer to buy a home has been accepted, you'll want to have a home inspection done. This can give you a more comprehensive understanding of its condition. The home inspector’s report is based on his/her visual evaluation and professional estimation of all accessible parts of the house.

Plumbing: Make note of unusual noises and odors around fixtures and pipes. Consider having the sewer line scoped for potential cracks and obstructions.

The purpose of this inspection is so that you, the buyer, understand the cost of renovations or repairs that the house may need, in addition to the cost of the mortgage itself. The inspection report gives you a list of faults with the property that you can use to negotiate a better price with the seller.

So let's guess.
This was an "as-is" sale?
and now you really know what it will cost to repair.
Cause you didn't need no darn inspection



https://homebuyinginstitute.com › mortgage › do-FHA-loans-require-an-inspection

Do FHA Loans Require a Complete Home Inspection, or Just an Appraisal?

FHA Does Not Require a Home Inspection To reiterate, FHA loans do not require a traditional home inspection. But HUD strongly encourage buyers to have one done. In fact, they require mortgage lenders to provide a disclosure that states the importance of having a proper home inspection conducted.

An appraisal is NOT a home inspection.
A broken septic system that is contaminating the well, should have been found by a home inspector, but you let that slide so you could blame an appraiser.

 

[Meandering]

Bottom line here is that,
even if the appraiser did check the wrong box on an appraisal forum,
if the home inspection recommended by both FHA and the Lender had been preformed,
the "purchase" never would have advanced to the appraisal stage, because it would have ended at the bad results of the inspections.
It is not the appraiser that let you buy a bad home with government insured financing.
It was you, that shot yourself in the foot,
and just maybe that appraiser reads this forum's posts,
but government employees sure do.

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[Fernando]

I thought FHA made it clear that the appraiser is not a home inspector.
When buyer hires an home inspector, buyer should be there and the home inspector will explain to buyer the issues in the property. It's very educational and inspector would have told the buyer to do what's needed for a well/septic thing (sorry, I don't know much about well/septic.).

 

[Huds_Harm]

if the home inspection recommended by both FHA and the Lender had been preformed,
the "purchase" never would have advanced to the appraisal stage, because it would have ended at the bad results of the inspections.


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You have made me convinced they hand out appraiser licenses to anyone that applies or you would know the buyers home inspection not only does not verify the property meets MPR,
IT IS NOT PROVIDED TO THE APPRAISER OR LENDER “to prevent it from going to the appraisal stage”

And I can only hope that the government reads how easy it is for an appraiser and lender to lie to close a loan.

 

[alebrewer]

And I can only hope that the government reads how easy it is for an appraiser and lender to lie to close a loan.

And now we're back to intent. You've no credibility when you intentionally place intent where none appears to have existed. That, in my opinion, shows way less character than an appraiser unintentionally checking a wrong box.

 

[Huds_Harm]

And now we're back to intent. You've no credibility when you intentionally place intent where none appears to have existed. That, in my opinion, shows way less character than an appraiser unintentionally checking a wrong box.

Fortunately I don’t have to prove intent only negligence.

 

[alebrewer]

Fortunately I don’t have to prove intent only negligence.

You don't have to prove anything on here. I'm just tired of you asserting intent to commit fraud when - on the face - it's you who is trying to commit fraud - by asserting that the appraiser did that intentionally.