Judge Rules Appraiser/Lender Owe no duty of care

[Dublin ohio]

What do you mean by aerators? Here, those are found on small town sewer lagoons.

Like Terrell said. Septic tanks are anaerobic, aerator are aerobic. My next doo neighbor has an aerator. Air is injected into the waste and the aerobic bacteria break it down. It is pumped into a gravel filter and drains into the old vitreous tile system. Many of them drain right into a river, stream of collector ditch, some into leach fields. The more modern versions have an air pump to inject the air. The older ones had a paddle that incorporated the air. Called the "sheet stirrers".

 

[Surf Cat]

The loan comment from underneath the article:

HUD only helps black and brown borrowers when the appraised value is less than the contract price. And yes, close as many loans and as quickly as possible is today’s mantra. No one is interested in quality appraisals. That’s why many experienced appraisers have quit appraising.

Uhg....

 

[Tiffany Gibbons]

Thanks for posting that. I've been curious.

I have noticed that the VA Lender's Notice of Value now states in bold that the VA appraisal is to determine the reasonable value of the property for loan purposes. The VA appraisal is not a building inspection. It recommends the purchaser to get a reputable inspection firm to conduct a thorough inspection of the property with particular attention to plumbing, heating, electrical, and roofing components. The home inspector was at fault here. I am not a licensed sanitary engineer. I don't do FHA work anymore because of things like this.

 

[Terrel L. Shields]

recommends the purchaser to get a reputable inspection firm to conduct a thorough inspection

That's an issue. I watch a YouTube inspector showing new construction homes in Arizona. Broken rafters, no fasteners, cracked appliances, cabinets with doors that did not work, leaking plumbing, and AC not working...all with a certificate of occupancy by the city and AFTER another inspector had "approved" it.

 

[Mejappz]

Anyone read the postscript? Surprise, Surprsie John Dingbat and Class strikes again.

 

[Huds_Harm]

I have noticed that the VA Lender's Notice of Value now states in bold that the VA appraisal is to determine the reasonable value of the property for loan purposes. The VA appraisal is not a building inspection. It recommends the purchaser to get a reputable inspection firm to conduct a thorough inspection of the property with particular attention to plumbing, heating, electrical, and roofing components. The home inspector was at fault here. I am not a licensed sanitary engineer. I don't do FHA work anymore because of things like this.

Absolutely no one, including the borrower is asking you to be a licensed sanitary engineer. HUD/FHA AND THE BORROWER ARE ONLY ASKING FOR AN APPRAISER TO HAVE THE COMPETENCE AND OR MORALITY TO CHECK THE CORRECT BOX.

 

[shrubberyvaluation]

I have noticed that the VA Lender's Notice of Value now states in bold that the VA appraisal is to determine the reasonable value of the property for loan purposes. The VA appraisal is not a building inspection. It recommends the purchaser to get a reputable inspection firm to conduct a thorough inspection of the property with particular attention to plumbing, heating, electrical, and roofing components. The home inspector was at fault here. I am not a licensed sanitary engineer. I don't do FHA work anymore because of things like this.

Is there a definition for reasonable value and what form do VA appraiser's use now?

 

[shrubberyvaluation]

Absolutely no one, including the borrower is asking you to be a licensed sanitary engineer. HUD/FHA AND THE BORROWER ARE ONLY ASKING FOR AN APPRAISER TO HAVE THE COMPETENCE AND OR MORALITY TO CHECK THE CORRECT BOX.

I hope you have never checked a wrong box in your life. Not sure what checking the right box would of done. I've accidently checked vacant on a house thats occupied, should i be sued too if the septic fails afterwards?

 

[shrubberyvaluation]

Anyone read the postscript? Surprise, Surprsie John Dingbat and Class strikes again.

View attachment 89094

You mean there are issues with AMCs like this getting the least qualified possible and wanting the report in 24 hours?

 

[Huds_Harm]

I hope you have never checked a wrong box in your life. Not sure what checking the right box would of done. I've accidently checked vacant on a house thats occupied, should i be sued too if the septic fails afterwards?

Except this wasn't just checking the wrong box. It was intentionally concealing anything, including lying about multiple physical items that existed and cropping out of pictures anything that would require the appraisal to be "subject to" and YES you should be sued for that.