• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

HUD/FHA --What is the equivalent...

Status
Not open for further replies.

Bob Henderson

Thread Starter
Freshman Member
Joined
Jan 27, 2002
PLEASE URGENT. WHAT IS THE HUD/FHA COMPLETION FORM THAT IS THE EQUIVALENT OF THE FREDDIE MAC / 442? THANKS.
 

Bob Henderson

Thread Starter
Freshman Member
Joined
Jan 27, 2002
Underwriter is insisting that the form has 19 blocks to check..the form noted only has 18...boxes...could the underwriter be referring to an old form? or a different form? Thanks again.
 

Ben Vukicevich SRA

Senior Member
Joined
Feb 9, 2002
Professional Status
Certified General Appraiser
State
New Jersey
Dick,

Now you're really being bad. LOL. You're going to let Bob loose on this form with no instructions????Hell, I can't even fill it out correctly and I've been looking at it for 22 years. It's a scary form for the novice

Seriously, Bob if you're just looking at the form, Dick has given you the correct one. It should also be in your appraisal software-I know Clickforms and Total have it.

If you're going to fill it out, there are instructions. Dick probably knows the Handbook number-he's probably got it right on his desk up there in Alaska. I think my copy is at home so it's not in front of me. If you need it, post and I will go look for it. It's really old-1970's stuff.

Don't do a final inspection on a new home with this form. You must be an FHA fee inspector to do so.

Ben
 

Dick Dolman

Sophomore Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Alaska
Bob,

The 19th box is "None" but isn't numbered. There are 6 Handbook references at the bottom right of the form but I don't remember which is the most helpful. Email me at [email protected] with your fax no. and I'll fax back a completed form in an actual case. Then you I will be the only ones that know how to do one. If it is a new construction case, never mind, it isn't applicable to your assignment.
 

Bob Henderson

Thread Starter
Freshman Member
Joined
Jan 27, 2002
THIS IS A FINAL INSPECTION FOR A NEW HOME. IT IS NOT AN INSPECTION WHERE REPAIRS WERE REQUIRED. THE APPRAISER IS NOT ON AN APPROVED LIST FOR SUCH. AGAIN THE UNDERWRITER IS INSISTING THAT A FORM IS AVAILABLE FOR INSPECTING..DOING A FINAL ON A NEW HOME JUST AS A 442 IS USED.

QUESTION ...IS THIS FORM FOR NEW HOME "FINALS" OR NOT...
IF NOT WHAT FORM IF ANY IS REQUIRED.... THANKS IN ADVANCE..
SORRY, BUT AGAIN THIS IS NOT FOR ME..BUT FOR A FRIEND..AN APPRAISER WHO IS TRYING TO DO A "FINAL" ON A NEW FHA/HUD FINANCED HOME.
 

Dick Dolman

Sophomore Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Alaska
Bob, et al.

The HUD Form 92051 is a catch all form designed for use by Fee Inspectors, DE Staff Inspectors, HUD Inspectors and Fee Appraisers. Yes the form is for used for certification of completion of construction but only by a HUD approved inspector, which appraisers typically are not. Your friend's client should have assigned an inspector to the case when the conditional commitment for proposed construction was issued.
 

Dick Dolman

Sophomore Member
Joined
Jan 29, 2002
Professional Status
Certified Residential Appraiser
State
Alaska
Ben,

My books and sample forms are so old there aren't any nines in front of the form numbers. The forms have carbon paper and are so thick that only an Underwood manual typewriter could hammer an impression onto copy 5. I don't want to open them because I would like them to be in reasonably good condition when they arrive at the Smithsonian.
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
8) To correctly do an FHA Appraisal, and a final inspection, it is first necessary to have a DEU that knows what the hell they are doing. If the problem persist, and you(or your friend :roll: ) are not qualified to do a final on new construction, call the REAC in DC. go to:

www.HUD.gov/groups/appraisers.cfm

That will lead you to a number that you can contact REAC by.

Don
 

Ben Vukicevich SRA

Senior Member
Joined
Feb 9, 2002
Professional Status
Certified General Appraiser
State
New Jersey
Bob,

Have your friend tell the DEU to avoid the final inspection issue altogether by accepting the CO from the municipality.

There's a thread in this very forum posted by lizindy in which I stated the reference on the CO being accepted as the final inspection. It's from the NAIFA website. The specific mortgagee letter is also listed by NAIFA for the DEU to review

Everyone is correct, the fee appraiser can not do the final

Ben
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks