Form 442 Request?

[Pamela Crowley (Florida)]

While you are at it Debra, ask the Lender for a binder or something to cover you on their insurance while you climb the ladder for that picture. Even FHA doesn't ask us to climb a ladder to look at the roof. (But, they wanted to. :roll: )

Reality: Take your picture(s) from the ground and if they want more, they can hire someone else. If they want the picture while up on the roof, tell them they'll have to get it from the roofer. DO NOT climb up there yourself!!!

 

[Ted Martin]

If it was a HUD appraisal you don't use the 442 form but the Compliance Inspection Form. Was your subject a HUD owned property that was being sold with conventional financing or was it a HUD financed sale with a 181-number? If it was a conventional you were OK doing an AS-IS appraisal if it was a HUD financed property you should have done it SUBJECT TO and you should have done a VC Sheet which would have detailed the needed repairs allowing you to give the subject an average or better condition rating subject to the repairs being completed. You might want to go to the local book store and see if they have any construction cost estimating books. I've been using the National Renovation and Insurance Repair Estimator by Craftsman Books, it comes with a book and a CDROM that allows you to cut and paste you estimate into your report cost was $50+/-.

 

[Debra]

Thanks

This property is a sale and I was given no information as to the details of the loan arrangements. This was not a HUD appraisal. I'm not on the panel and think for now I'll stay out of that till I'm more experienced...for costs estimates I usually use the Marshall and Swift Cost Repair and Remodel 2002 guide... Debra

 

[Ted Martin]

I'm a little confused by a HUD house did you mean a HUD owned property?