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Help with 203K FHA Appraisal NY

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Diana Ansbach

Thread Starter
Freshman Member
Joined
Dec 17, 2006
Professional Status
Certified Residential Appraiser
State
New York
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

Senior Member
Joined
Jun 2, 2003
Professional Status
Certified General Appraiser
State
Ohio
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

Elite Member
Joined
Mar 29, 2005
Professional Status
Certified Residential Appraiser
State
New York
This will give you some info

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

Eli Weiss

Senior Member
Joined
Nov 28, 2005
Professional Status
Certified Residential Appraiser
State
New York
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

Thread Starter
Freshman Member
Joined
Dec 17, 2006
Professional Status
Certified Residential Appraiser
State
New York
Thank you, thank you, thank you.
 
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