FHA "subject to"

[cooper]

I agree...

 

[NC Appraising]

Webbed,

After reading that, now I'm confused. Thanks.

Do I know, no, no, no. I love cherries, so I'll keep cherry picking.
I thought what I posted was relevant, and I wasn't confused. If you do not agree, so be it. My post was not intended for you, so why call me out? Are you getting paid to post? Gosh. If you don't like what I post, ignore me. That is why a lot of posters never post here. I'm not here to win a ****ing contest either.



In this decayed hole among the mountains. In the faint moonlight, the grass is singing. Over the tumbled graves, about the chapel. There is the empty chapel, only the wind's home. It has no windows, and the door swings, Dry bones can harm no one. Only a cock stood on the rooftree Co co rico co co ricoIn a flash of lightning. Then a damp gust Bringing rain.

 

[Webbed Feet]

NC,

Are you offering to pay me? Whoo hoo! Can we make that retroactive?

Webbed.

 

[NC Appraising]

No, but you are one of the few that I actually take advice from, becuase you do know what your talking about. Your my go to guy for "cost to cure" questions. :icon_wink: .

 

[Mr Rex]

FHA wants the C2C because they have a ceiling before its 203k bait or no go. Not that hard to grasp as a concept IMHO.

 

[Webbed Feet]

Concepts work very well in theory.

FHA wants the C2C because they have a ceiling before its 203k bait or no go. Not that hard to grasp as a concept IMHO.

Mr. Rex,

Then I put forth that, as it is so simple, FHA/HUD should have no trouble comprehending the entire concept is being grotesquely abused, inadequately reported, incompetently performed, and manipulated to avoid any and all subject to conditions that should have been declared.

Webbed.

 

[NC Appraising]

The appraiser is to note those repairs necessary to make the property comply with FHA’s Minimum Property Requirements (MPR) or Minimum Property Standards (MPS) together with the estimated cost to cure.

1. I read this as "subject to". The home has repairs or conditions that do not meet MPR or MPS. Wrong or right? See cherry picked "C" way below.
(if it is cosmetic or does not meet the three S's, you still report it, "as-is appraisal", and consider it in the overall condition rating of the subject property, no C2C)

2. Give them a C2C.

The lender will determine which repairs for existing properties must be made for the property to be eligible for FHA-insured financing.

3. You report, the DE Underwriter decides. Let it go. You have done your job, move on.









A. “As Is”

1. There is/are no repair(s), alteration(s) or inspection conditions noted by the appraiser, or
2. Establishing the “as is” value for a regular 203(k), or
3. The property is being recommended for rejection

B. “Subject to Completion per Plans and Specifications”

1. Proposed Construction where construction has not started, or
2. Under Construction but not yet complete (less than 90%), or
3. Regular 203(k)

C. “Subject to the following Repairs or Alterations”

1. Repair or Alteration Condition(s) noted by the appraiser, or
2. Streamline 203K, or

 

[Jason Barber]

The lender may have a point here:

MORTGAGEE LETTER 2005-ML-48

Missing Handrails is the FIRST item on that list.

 

[Mr Rex]

Mr. Rex,

Then I put forth that, as it is so simple, FHA/HUD should have no trouble comprehending the entire concept is being grotesquely abused, inadequately reported, incompetently performed, and manipulated to avoid any and all subject to conditions that should have been declared.

Webbed.

With recognition that the vast magority of their now approved FHA appraisers are not competent to do FHA appriasals as the current FHA SOW stands and requires. Reminds me of the condo budget analysis thread. Other folks fake it, so its what my peers would do and thats acceptable:new_all_coholic:

 

[David Sawyer]

Please, am I correct that upon inspection, a hole in the bathroom ceiling (drywall) of approx. 24" x 36" would be considered a "safety issue" , whereas the report would be "..subject to following repairs or alternation condition". The hole in the ceiling was not repaired per inspection date and the reason for the hole was to update the plg. for new bathroom fixtures.