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Jumbo Reverse Mortgage order, not FHA, but they want me to to do an FHA level inspection and refer to the 4000.1 in the report. Is that ok?

Lee in L.A.

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Before you turn on the oven to test, look inside.
I did a new house, or was it a flip?
Turned on the new oven and after a couple minutes opened door to see if it was heating.
It was, and there was some parts packaged in cardboard in there. Eek! :leeann2:
 

TMG

Thread Starter
Junior Member
Joined
Jul 28, 2007
Professional Status
Certified Residential Appraiser
State
California
Before you turn on the oven to test, look inside.
I did a new house, or was it a flip?
Turned on the new oven and after a couple minutes opened door to see if it was heating.
It was, and there was some parts packaged in cardboard in there. Eek! :leeann2:

Went out there yesterday, its a Reverse Mortgage appraisal. Home is in a high demand area, where most homes are C3 or remodeled C2s. So.....my subject was completely original 1960s with wallpaper, carpeted bathrooms, old 1960s intercoms in every room. Owner is an old lady with dementia and a caregiver. Avg maintained, but dated as all h_ll. If it were sold, it would be a complete rehab, maybe even a partial tear down. I had pulled a decent range of sales to be prepared, but had to go back out there to take pics of a new handfull of original condition sales.

Did not meet 4000.1. Peeling paint in a few areas, and a rotted out overhang support post.

Note to self: Reverse Mortgage orders might be dated and original condition.
 
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