Judge Rules Appraiser/Lender Owe no duty of care

[shrubberyvaluation]

Did you even read the article? The subject to items are listed and I take it you are not aware that a home inspector does not verify the home meets FHA minimum property requirements.

Food for thought, why would the home inspector, the person there to inspect the home not care about certain FHA MPRs? Is it because appraiser's are supposed to do a better job or are there items the home inspector does not feel is important that are FHA MPRs.

 

[Fernando]

Food for thought, why would the home inspector, the person there to inspect the home not care about certain FHA MPRs? Is it because appraiser's are supposed to do a better job or are there items the home inspector does not feel is important that are FHA MPRs.

Even home inspector knows his/her limits. If inspector sees an issue, report should have recommended a septic tank expert to investigate further.

 

[Dublin ohio]

Food for thought, why would the home inspector, the person there to inspect the home not care about certain FHA MPRs? Is it because appraiser's are supposed to do a better job or are there items the home inspector does not feel is important that are FHA MPRs.

Every complete home inspection report I have seen covers every MPR I can think of and also many items that would not be within the pervu of an appraiser

 

[Huds_Harm]

Food for thought, why would the home inspector, the person there to inspect the home not care about certain FHA MPRs? Is it because appraiser's are supposed to do a better job or are there items the home inspector does not feel is important that are FHA MPRs.

For one, it is not their job to measure distance between well and septic nor does a buyers septic inspection do that to ensure the home meets minimum distance requirements for the lender.

Read this carefully, I did not sue for a broken septic system. Items that are working at the time of sale can fail after. I sued because the home did not qualify for the loan and the only entities required to verify that were the lender and appraiser.

Appraisers are not asked to do a better job, rather they are expected to do their job period.

Not willfully ignore any item that would require the appraisal be marked "subject to"

 

[Mike Ault]

Not willfully ignore any item that would require the appraisal be marked "subject to"

After our discussion this afternoon, I don't believe you have any basis for making this allegation whatsoever. "Sloppy report" would be my verdict if I was setting on the jury and presented with the evidence you have posted here on the forum.

 

[Huds_Harm]

unfortunately it was not allowed to get to a jury.

 

[shrubberyvaluation]

For one, it is not their job to measure distance between well and septic nor does a buyers septic inspection do that to ensure the home meets minimum distance requirements for the lender.

Read this carefully, I did not sue for a broken septic system. Items that are working at the time of sale can fail after. I sued because the home did not qualify for the loan and the only entities required to verify that were the lender and appraiser.

Appraisers are not asked to do a better job, rather they are expected to do their job period.

Not willfully ignore any item that would require the appraisal be marked "subject to"

The main job of an appraiser is to appraise a property. I'm not saying the appraiser is in the right. I'm saying if you didn't have septic issues you would of never cared about any of this stuff.

 

[Tiffany Gibbons]

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

It's market value, I'm not sure why they said "reasonable" on the new form. VA uses the Fannie Mae forms like FHA. No desktops though.

 

[Fernando]

It's market value, I'm not sure why they said "reasonable" on the new form. VA uses the Fannie Mae forms like FHA. No desktops though.

Now buyers will see the form and see if their sales price is reasonable. If not, renegotiate.

 

[George Hatch]

unfortunately it was not allowed to get to a jury.

How did that happen? Did these parties enter into a settlement?