Licensed appraising a USDA purchase

[OSU Beavers]

The last one of these I completed in October, 2022 the Lender sent a Professional Home Inspection Report with the lender required repairs. I was "instructed to treat the USDA report as conventional" and write it subject to the repair requirements that I was given. I did not even have to complete a Final Inspection before the sale closed. I guess the home inspector supported by contractor receipts took care of that before the closing.

I always thought that as a Licensed Appraiser I could complete a USDA assignment if I required property compliance with HUD Handbook 4000.2.

This AMC and Lender are unhelpful idiots. Any guidance helpful would be appreciated. Thank you.

 

[glenn walker]

The last one of these I completed in October, 2022 the Lender sent a Professional Home Inspection Report with the lender required repairs. I was "instructed to treat the USDA report as conventional" and write it subject to the repair requirements that I was given. I did not even have to complete a Final Inspection before the sale closed. I guess the home inspector supported by contractor receipts took care of that before the closing.

I always thought that as a Licensed Appraiser I could complete a USDA assignment if I required property compliance with HUD Handbook 4000.2.

This AMC and Lender are unhelpful idiots. Any guidance helpful would be appreciated. Thank you.

My understanding is you have to be Certified and also on HUD and FHA Approved Roster.

 

[OSU Beavers]

My understanding is you have to be Certified and also on HUD and FHA Approved Roster.

On the Roster yes, but Licensed can appraise for USDA. They just keep changing the program requirements on me. In 2022 it was treat it as conventional subject to the home inspectors repair list, in 2021 it was follow the 4000.2 and make your own repair requirements off it.

 

[glenn walker]

On the Roster yes, but Licensed can appraise for USDA. They just keep changing the program requirements on me. In 2022 it was treat it as conventional subject to the home inspectors repair list, in 2021 it was follow the 4000.2 and make your own repair requirements off it.

Mine have always been same as FHA and HUD Handbook 4000.1 Maybe you have been doing Re-Hab Ones like FHA-203-K where a inspector or contractor is involved. Otherwise you call out repairs and go back and do a 1004 D when repairs are completed .

 

[OSU Beavers]

Yeah, this one came in late Friday and I am waiting to hear the details on Monday.

 

[OSU Beavers]

That last purchase appraisal I completed in October, 2022 was for USDA Rural Development through Dart Appraisal.

The ones prior included HUD inspections and valuation conditions.

I swear that this topic has come up before, but of course the search on this site stinks.

 

[Vermonter]

Not 100% sure how it works with lenders and USDA loans, but I do know USDA themselves were recruiting all license levels to work directly for the local office.

 

[Terrel L. Shields]

I do not believe that you have to be on the FHA roster to do a USDA appraisal. I could be wrong.

 

[LordofTexas]

Licensed and on the USDA roster. If you're on the FHA roster, you're an FHA approved Appraiser. The Appraisal just has to be completed to FHA Guidelines. But here's the caveat, if they decide to convert it to FHA during the process, you'll lose the assignment and most likely the Client. That's why most are ordered from an FHA Appraiser.

 

[OSU Beavers]

They are sending me the repair addendum, and inspection report.