New MH on owner's site

[Zoe]

I can't speak for any other reviewer. If your report landed on my desk here's how I would view the issue you raised. If you put the comments about the construction contract in the contract section of the form... and you got it right... the appraisal would pass. If you put the comments about the construction contract elsewhere in the report... and you got it right... the appraisal would pass. If you didn't comment on the construction contract, you would get a revision request.

And I would have included a copy of the purchase/construction contract on the DW. That way I can pretty much tell what standards the DW is going to be built to and reference that contract as my subject to completion per plans and specs. And subject to a final inspection by the appraiser.

 

[Zoe]

There are questions and check boxes in a FNMA form on page 1 in the contract section and/or otherwise that do not ryhme with the op's situation to list this contract in that section.

All you need is a lawyer telling you that you are being misleading. I try to limit my risk in case things go south.

 

[Zoe]

It is my opinion that the contract section is left blank because it technically is not a sale. It is new construction. For years I have submitted the reports without the contract section filled out and noted the terms of the agreement in an addenda. On recent report the reviewer is insisting I include the construction agreement in the contract section as if it is a purchase. I am interested in your thoughts. I can't believe I am wrong and twenty years of reports have been accepted as submitted, many to this same lender. Thoughts?

Now since you scolded me for being in wrong thread. Have I give you enough thoughts?

LOL

All my thoughts are in your best interests and any party involved.

Sometimes these threads get confusing. I think I am in one thread and I am in another. LOL

Always remember your specialty. You appraise real property rights. You are the professional. Your reviewer .......................very questionable at professional status?

Your reviewer would have a hard time with me. I hope I have made that clear to you.

It is not a business decision with me. It all revolves around real property rights on a GSE form.

Okay, if you don't accept? I punt. Go get somebody else. I have better things to do with my time. Your cancellation fee as we agreed upon is $X

Do you understand?

In a narrative report, you don't run into the issues on a gse form. I hope I helped you a little.

 

[Zoe]

Many reviewers on GSE related mortgages have no clue. You do. I will leave it at that. Wish you well.