New Contract For 1004d

[Michael Lurix]

Performing a 1004D on a property I previously appraised two weeks ago. The new engagement letter has a new selling price on it due to appraisal coming in below asking price. Do I need a copy of a new contract with the new contract price?

 

[gregb]

Not sure how a revised contract price would impact the completion part of the 1004D. Or, are you engaged to complete the appraisal update part of the 1004D?

 

[Michael Lurix]

No. its just a completion report. I just noticed the price change in the engagement letter.

 

[glenn walker]

NO .. Just go do the 1004D and be done

 

[Michael Lurix]

thanks for the quick resopnce

 

[J Grant]

I like to see a copy of contract or addendum if they change sale price and expect me to note it...but if you want to accept verbal that it happened up to you...I presume you are inspecting for a 1004 d and will note change in contract price at same time, or just submit the 1004 d? They are usually done separate, with contract price change noted in original appraisal and 1004d its own inspection assignment noting completion of repairs/items.