Lender Requesting Commentary to be removed

[Paradiddle]

Answered.

 

[swandel1]

New assignment? This changed AFTER the effective date of appraisal.

 

[Dublin ohio]

All,
Appraised a property clearly w Excess land (separate lot w nothing on it next door in a subdivision). UW asking that I remove commentary that was previously provided concerning my valuation of only the lot w improvements and that the other lot was excess land. Now they have an updated purchase agreement w/o the other lot and want me to remove the commentary I previously made. Thoughts?

FHA, conventional? Why did you previously exclude the additional lot if it was part of the contract?

 

[Paradiddle]

Answered.

 

[Paradiddle]

Answered.

 

[Dublin ohio]

Swandel1, not looking for any more $$. Just don't want to do something just bc they want to cover their bum.

One more time.

FHA, conventional? Why did you previously exclude the additional lot if it was part of the contract?

 

[Dublin ohio]

One more time.

FHA, conventional? Why did you previously exclude the additional lot if it was part of the contract?

My bad. missed your post. If it is for Fannie. You include it and treat it as "value in use"

 

[Paradiddle]

Answered.

 

[J Grant]

All,
Appraised a property clearly w Excess land (separate lot w nothing on it next door in a subdivision). UW asking that I remove commentary that was previously provided concerning my valuation of only the lot w improvements and that the other lot was excess land. Now they have an updated purchase agreement w/o the other lot and want me to remove the commentary I previously made. Thoughts?

It sounds like they made a new purchase agreement removing the adjacent lot from the sale contract and the buyer is purchaisng a house on a lot ( and not the adjacent lot any longer included ) Though it might need a new assignment, because you never valued the adjacent lot the first eff date you might be able to simply revise this with removing the comment, but reference that the comment was there and explain what happened on what date wrt the revised contract .

 

[Dublin ohio]

So the HBU is for the buildable lot to be sold together w the lot with the house? Disagree.

The excess land is included as "value in use". Argue with Fannie