Gold Supporting Member
- Jan 16, 2002
- Professional Status
- Certified Residential Appraiser
I posted earlier about a property with a sinkhole next to the house. I have now inspected the property, and it is a huge one. About 20' deep and 25' across, & keeps getting bigger everyday! I am coming to the conclusion that it may have minimal value if any, due to the fact that you can't get financing for it. I know it's a reject for HUD under VC-1 (right at the top of the list!), but does anyone have a link to FNMA guidelines or know a specific reference where subsidence or sinkholes make a property ineligible under FNMA guidelines? What about VA guidelines? Do any of yuo VA guys know the specifics about this issue?