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Final Insp On Proposed Const

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Oh No Not Him

Member
Joined
Jun 21, 2006
Professional Status
Certified Residential Appraiser
State
Maine
Trying to get some feedback., in the past I believe the RLC has told me they dont REQUIRE a final insp on proposed const that was done based on plans & specs. I had emailed my RLC for an answer but am still waiting. Thanks
 

CindyR

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
They require it if the NOV says "Appraiser to certify blah blah blah"
 

Oh No Not Him

Member
Joined
Jun 21, 2006
Professional Status
Certified Residential Appraiser
State
Maine
The nov is only checked and says subject completion per plans. It doesn't state subject to a final insp. And line 10 where they would make it subject to repair insp isn't checked either
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
The nov is only checked and says subject completion per plans. It doesn't state subject to a final insp. And line 10 where they would make it subject to repair insp isn't checked either

If the lender ask for it, do it. I have not had a new construction by plans and specs where I did not do the final inspection in several years.

I use the "Satisfactory Completion Certification".

Be sure to ad this:

"I certify that I have performed services to the subject property in the past 3 years, which is the appraisal on which this final inspection is based. USPAP does not consider a final inspection to be an appraisal or part of an appraisal. A final inspection s a valuation service."
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Thanks Don,

I haven't used that statement but I certainly can see why I should be using it. Like you, I do finals on all new construction. Why? Because my appraisal report says I am to do so. If the client wants my appraised value to be valid then I need to know the work has been completed.
 
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