Lender says give no vale to illegal accessory unit

[NC Appraising]

I don't get that from what CAN posted?

Eligibility of these properties depends on whether or not
the property is structurally sound and readily marketable. If a
property meets these criteria, the appraiser estimates market
value. However, depending on the uniqueness of a property, the
final determination to accept or reject the property is made by
the lending institution's underwriter.

The FHA Appraisal is made
Under the following conditions
A. “As Is”
1. There is/are no repair(s), alteration(s) or inspection conditions noted by the appraiser, or
2. Establishing the “as is” value for a regular 203(k), or
3. The property is being recommended for rejection




Yeah, I know, I'm pushing it.......grabbing on to something....hoping.


Have a nice weekend Denis. .

 

[hastalavista]

Have a nice weekend Denis. .

You too!

 

[CANative]

Eligibility of these properties depends on whether or not
the property is structurally sound and readily marketable. If a
property meets these criteria, the appraiser estimates market
value. However, depending on the uniqueness of a property, the
final determination to accept or reject the property is made by
the lending institution's underwriter.

The FHA Appraisal is made
Under the following conditions
A. “As Is”
1. There is/are no repair(s), alteration(s) or inspection conditions noted by the appraiser, or
2. Establishing the “as is” value for a regular 203(k), or
3. The property is being recommended for rejection




Yeah, I know, I'm pushing it.......grabbing on to something....hoping.


Have a nice weekend Denis. .

For instance a property where the conditions are so severe that the appraiser cannot establish a cost to cure. They want the appraisal completed "as is" and recommend it be rejected as eligible for FHA.