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New Construction Specs

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Netig

Sophomore Member
Joined
Jan 28, 2010
Professional Status
Certified Residential Appraiser
State
Illinois
Curious if i am in the wrong here, i requested specifications/cost sheet from the builder on a new construction townhome i am appraising for a conventional purchase. This is in order to include a cost approach in the report (which the client wants to see there whether it applies or not) as well as the fact that it isnt done, and i am appraising 'subject to' completion per plans/specs.

Builder is being such a pain on this. I have never not gotten the pricing sheet for the other new homes ive done in recent years, its just provided. Am i being unreasonable to require this? I think i may be mistaken on this or in the wrong as he said hes never provided them. But, on the other hand i cant do subject to completion per specs if i dont have said specs correct? It has upgrades from the base price. Do i need the specs?
 

BRCJR

Elite Member
Gold Supporting Member
Joined
Sep 20, 2005
Professional Status
Licensed Appraiser
State
Virginia
I think you need plans and specs (materials list for support for the quality of construction)
 

Netig

Sophomore Member
Joined
Jan 28, 2010
Professional Status
Certified Residential Appraiser
State
Illinois
I think you need plans and specs (materials list for support for the quality of construction)

I agree. I have gotten so much useful info from AF, i wanted to see if i am overthinking this one. Thanks for your input!
 

Obsolescent

Senior Member
Joined
Jul 6, 2004
Professional Status
Certified Residential Appraiser
State
Minnesota
You need plans and specs, list of upgrades, and a cost handbook.
 

KHS445

Member
Joined
Aug 20, 2011
Professional Status
Appraiser Trainee
State
Michigan
You need whatever you deem necessary in order to provide your client with a creditable report.
 

Mr Rex

Elite Member
Joined
Jan 12, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
Curious if i am in the wrong here, i requested specifications/cost sheet from the builder on a new construction townhome i am appraising for a conventional purchase. This is in order to include a cost approach in the report (which the client wants to see there whether it applies or not) as well as the fact that it isnt done, and i am appraising 'subject to' completion per plans/specs.

Builder is being such a pain on this. I have never not gotten the pricing sheet for the other new homes ive done in recent years, its just provided. Am i being unreasonable to require this? I think i may be mistaken on this or in the wrong as he said hes never provided them. But, on the other hand i cant do subject to completion per specs if i dont have said specs correct? It has upgrades from the base price. Do i need the specs?

Request the plans and specs from your client. They are responsible for getting them from the builder. Place the order on hold until you are provided what you need and are required to review to do your job.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I want their specs...and I'm waiting on some as we speak
 

Netig

Sophomore Member
Joined
Jan 28, 2010
Professional Status
Certified Residential Appraiser
State
Illinois
Thanks all, called the contact at the lender and they were in agreement, i needed it and it helps with credible results as someone mentioned. Thanks for all the input.
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
I'm waiting on plans and specs for a VA appraisal right now. The builder is resisting, but I can't continue without them.
 

Netig

Sophomore Member
Joined
Jan 28, 2010
Professional Status
Certified Residential Appraiser
State
Illinois
I'm waiting on plans and specs for a VA appraisal right now. The builder is resisting, but I can't continue without them.

I really had a hard time the past few days understanding how the builder made it sound like he had no idea this was a thing. Sometimes those basic issues will make you think its on you lol.
 
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