Help with 203K FHA Appraisal NY

[Diana Ansbach]

I have an order to do a 203k rehab FHA appraisal. This is the first time I am doing one. The subject had a fire and approx 75% of the house was burned (and no longer exists). The contractor is just leaving 2 or 3 rooms (the frame) and the foundation. I did do research and read that 2 appraisals are needed. One as is, and the other as completed. Is there a specific form for these? Do I find other houses that had fires to compare it to? If anyone has any information I would greatly appreciate it.

Thanks in advance,
Diana

 

[Thomas Fiehler]

Just use the URAR and provide 2 appraisals (You might double check with the lender since sometimes I've only had to complete the "When Done" appraisal). If there are no other "fire sales" you might also consider an REO that has been vandalized.

 

[Tony V]

This will give you some info

http://www.HUD.gov/offices/hsg/sfh/203k/203kabou.cfm

 

[Eli Weiss]

Was this post moved here? I suggest this be moved to the FHA forum, or open a new thread in that forum, so you get a bit more opinions and help.

 

[Diana Ansbach]

Thank you, thank you, thank you.