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"Hurry, Rush, Alarm! We were supposed to close yesterd

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Caterina Platt

Thread Starter
Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
Yikes! Mortgage broker asleep at the wheel, doesn't pick up the file for 2 solid weeks. Closing yesterday. 'Uh, duh, Oh ya! There were repairs required here weren't there?' Now we all run around like chickens trying to save a 3 way chain reaction sale/purchase/sale transaction before the seller walks out of frustration.

FHA newbie stupid question #1

When I've required repairs on the VC, I did find that a licensed professional in the field concerned needs to certify repairs have been done on thier company letterhead. Does an FHA inspector also need to complete Form 92051?

#2 Does the licensed professional need to complete any other docs.?

#3 If a Form 92051 is needed (these were repairs to an existing older home), does FHA order the inspection from another inspector, or does the original FHA appraiser complete this?
 

Caterina Platt

Thread Starter
Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
New Mexico
In the interim, finally found the Denver HOC toll free number. 1-800-543-9378 for anyone interested.

Got the questions answered
#1 NO

#2 NO

#3 Original appraiser would do an inspection only if the repairs were considered minor eg. paint, plaster... nothing that would require a license.
 

Wally Jones

Senior Member
Joined
Jan 23, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Caterina,

I saw the heading of your message and thought my favorite (NOT) lender had signed on the forum. 8O

Glad you were able to resolve your questions so quickly.
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
That aint nothin....darlin. I received a call last week. We were at the closing table when we noticed the appraisal was on a different property..we sent you the wrong address, could you go do the right house and get it back to us in an hour while everyone has lunch?

I said, for $2500 I will personally deliver it to the closing...otherwise it will be a couple of days. Closing was postponed til the next week.
 

Ross (CO)

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Mike, Thank you for pioneering appraisers' efforts to establish new benchmark fees for these "rush" assignments. If those fish bite on that bait, do please let me know ! LOL, see ya' soon, Ross
 

wade3333

Senior Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Georgia
Mike, you win. I have had rush assignments but never one like this. I thought I had seen everything. Wade So Ga
 
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