How long does it take?

[Ed]

I think this has been posted before, but I'll ask it anyway. I've recently (3 days ago) subitted my "package" to HUD via fax for approval. How long should I anticipate a confimred "yes" or "no" from HUD. I know they do not send an approval letter and I need to keep an eye on their websites "roster list".

Additionally, how much more can I expect to charge for an FHA appraisal. I've heard $50-$75 more than my conventional fees. I'm aware the inspection and reporting protocols are going to be increased and I want to know what is acceptable without shooting myself in the foot.

I work for myself, by myself, so you all are my source of business related information and assistance. Which I enjoy and learn from..what a great forum we have. Thanks a lot.

 

[Charles Decker]

I too sent mine via fax in August. It took 30 days so I wouldn"t expect an approval any sooner than that. I'm sure they are swamped.

As far as what to charge, most here are charging $50 extra while another appraiser I know here is not charging any additional money, all in the name of "Customer Service". To each his own.

 

[ccooper]

Two appraisers in my office sent in their paperwork several months ago. Still not on list.

 

[Amy Perkins]

Sent mine on 10/24, haven't heard anything yet

 

[Tawfik Ahdab]

http://appraisersforum.com/showthread.php?t=126868

 

[timindp]

mine took only 3 weeks

 

[Joy Price]

Edited

I sent mine via US Mail (not fax) in Oct. and I think it took less than 2 weeks.

I asked around and some people don't charge any more for an FHA than a regular 1004. I personally charge $25 more for the added trouble of having to check plumbing, electrical, attic etc.

 

[timindp]

I charge $25 more. Might go up even more if gas prices continue to rise

 

[John LaBelle]

I mailed mine on 10/22 and was just approved 11/15.

I was told it is better to mail it than to fax it by the instructor of the FHA class I took. I don't know if that is true, but it worked for me.

 

[David Beasley]

I hate messing with FHAs anymore, and routinely quote my FHA fee as $100 more than the typical FNMA/VA appraisal fee for my market areas (VA is BIG here) and I have to admit, most lenders don't blink at the extra $100. Could be that I am one of the last ones they call around here that is on the FHA list and they're desperate by the time they get to my name on that list. In fact, most of them don't blink when I charge typical VA fee + $150 for FHA double-wide appraisals. If it's one thing I dislike doing more than FHA period, it is FHA double-wides...but I can do them, and will if the fee is right (and I know it is going to be paid).