FHA sketches

[Appraising since 1975]

only if it is occupied by and uncooperative occupant;
if its vacant, we are required to make the lender get us in
(Phoenix Regional Office requirements)

 

[springalot]

The home was on lockbox and the inspector never entered the home. In addition no photos were taken of the inside and the only measurements on the appraisal were exterior.

 

[Couch Potato]

If the appraisal indicates they did an interior inspection, but you have evidence they did not do so, file a complaint with the local state appraisal board. You should likewise complain to the VA. They may not do anything about it, or they may revoke the license for fraud; one never knows.

 

[springalot]

He did not go into the property at all. He was required to view the interior of the subject property. According to the VA requirements for appraisals.......

The fee appraiser assigned by VA must personally​

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view the interior and exterior of the subject property and the exterior of each​

comparable

The appraiser did an exteror measurement only and undermeasured the actual heated square footage. He then used this under measured square footage for finding comparables. Thus, his final appraised value was too low. He did not view the interior as required by the VA.

This low value caused the VA to decline a loan to a veteran and in turn damaged the seller by losing the buyer for the home. The appraiser has refused to revisit his conclusions and the VA has refused to reopen the file.

What should the seller and/or buyer do in respect to this situation? Is this not negligence on the part of the appraiser and caused damage to the seller and possibly the buyer?​

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[Mr Rex]

If it was on a lock box how do you know he didn't go in? I have a credit card, a large screwdriver, and a bump key, I can get into most any house if I'm supposed to be there.

 

[springalot]

It was on a combination lock box that would have required him to call in to get the code. If he broke into the home without appropriate authorization, then the police should be involved. In addition, there was nothing on the appraisal that indicated an interior viewing (no photos and no interior measurements on the sketch) and he would not say that he went inside when he was asked the question. Finally, if he had gone inside, his measurements would have reflected the correct heated square footage.

 

[Mr Rex]

Not to be contrary, but in my area, I know almost all of the local RE agents Lockbox codes after a few years, I have a little black book. Explain the lack of authorization. Was the house occupied? If so, I would tell someone I was going out, but I'm like the cable company, sometime between 12 and 6. Claiming a VA appraiser didn't do an interior is a fairly substantial claim. If true, hang him by your choice of which grape, but you better be sure. I personally avoid owners/sellers/buyers and RE agents if at all possible, they just get in the way and usually have nothing to add to the equation that means anything to me or the value opinion.

 

[Mike Garrett RAA]

Are you the property owner? The buyer? I would suggest the appraiser is in jeopardy if he said he inspected the interior and did not. Not sure why interior measurements would make a difference. Was the garage converted to living area? There is no requirement by the VA for any interior measurements or interior pictures. I take interior photos just to preclude this type situation.

Would an interior inspection changed the results of the appraisal? IN MY MARKET an appraiser can probably produce a credible appraisal on most properties without doing an interior inspection. The problem is certifying he did an interior inspection if he didn't.

 

[springalot]

I am the property owner. My RE Broker is very careful with his properties and has never had any previous dealings with this appraiser. It was very clear regarding the procedure to enter the home. If anyone needs to access the property, whether to show or anything else, a call must be made to the RE office to provide the combo code. There was never a call made by the appraiser. When my RE broker was told the appraised value, he communicated his concern to the Buyers agent. The Buyer's mortgage broker provided both the appraisers phone number and a copy of the appraisal to my RE Broker. It was clear that there was not an interior done from the appraisal itself, particularly from the measurements of the garage. All measurements were outside only. He had the garage dimensions at 22 x 24. It actually is 22 x 20. Even his actual multiplication, in couple instances on the appraisal was incorrect. The difference of the sq. ft. lost from the garage alone alone caused a descrepancy that made the difference in the comps he used and the final value. It lost the loan and the buyer. My RE Broker even called him and asked him if he had gone inside. The appraiser told him he had an electronic key and my RE Broker said that it was a manual lockbox. So it was obvious he was trying to cover himself. After it was obvious he was caught lying, he got very defensive and angry, then hung up on my Broker. As far as I know, VA requires an interior viewing of the subject property. Thats according to the VA Pamphlet 26-6 Revised.

What should I do about all this? The buyer is gone and I lost the sale of my home.

 

[DTB]

. It was clear that there was not an interior done from the appraisal itself, particularly from the measurements of the garage. All measurements were outside only. He had the garage dimensions at 22 x 24. It actually is 22 x 20. Even his actual multiplication, in couple instances on the appraisal was incorrect. The difference of the sq. ft. lost from the garage alone alone caused a descrepancy that made the difference in the comps he used and the final value.

88 square feet was a big deal? :Eyecrazy::Eyecrazy: