New MH on owner's site

[Tom D]

Well, you noted it as a refi, they want the contract for the new house in the contract section, wha da.
At this point why not do it noting it as the contract for the construction It's different, but now they have it both ways and you note that, this is how they wanted it noted.

If this is the lender's reviewer, and i like the lender, i do it. What would be miss leading if you spelled it out.
I agree with you, but i also wanna end this however, i can while protecting myself.
Let us know the outcome, different post from the typical stuff.

 

[Vermonter]

It's a refi. Borrower owns the lot and put an MH put on it. No different than a refi after major addition.

You are correct the contract section is for a Purchase and Sale agreement on the property, not a builders invoice on a property already owned. Obviously you can still analyze and disclose the builders invoice in the report somewhere.

 

[Tom D]

You can't cure stupid. But, you find a work around, if you want to get paid and keep the lender.
Or, i know higher ups to go to. If you don't, how long will you sit on it.

 

[sputnam]

Yes, the borrower is the owner or of course it would be a sale and the purchase contract for the home is reported in the addenda.

You didn't say that in the OP. If you had, you'd have gotten a different answer. IMO, if it is a construction contract to build improvements on land owned by the borrower then USPAP does not require that you comment on the contract in your appraisal report. BUT... why not? USPAP are the minimum requirements. You are allowed to do more than the minimum. To the best of my knowledge, there is no RULE that says that the contract section on the appraisal form can only be used IF it's a sale.

 

[Zoe]

You still have H&B use involved if the definition of value is MV. You have determined H&B use is lots be sold separately.,

You can do an HC that they be sold together in MV appraisal. MV definition of value is very unique. You will have to explain it all regardless of which way you go.

If you were doing use value or some other value than MV, it would be different.

 

[Zoe]

Don't let the lender play you.

 

[mp2277]

Well, you noted it as a refi, they want the contract for the new house in the contract section, wha da.
At this point why not do it noting it as the contract for the construction It's different, but now they have it both ways and you note that, this is how they wanted it noted.

If this is the lender's reviewer, and i like the lender, i do it. What would be miss leading if you spelled it out.
I agree with you, but i also wanna end this however, i can while protecting myself.
Let us know the outcome, different post from the typical stuff.

Because it is incorrect and there are questions in the contract section that make it plain that it is incorrect to put it there. Also I resent some ignorant desk jockey making me take the time to do something wrong.

 

[Zoe]

Because it is incorrect and there are questions in the contract section that make it plain that it is incorrect to put it there. Also I resent some ignorant desk jockey making me take the time to do something wrong.

That's right. You can do an HC they be sold together with MV appraisal... How much do you like this client?

That would not be that hard if client will accept. If they don't then just do the proposed improved site. You sir or Ms. are responsible for SOW.

Your client will turn on you like a mad Tiger if you mess up on SOW.

 

[Zoe]

Your borrower is in the mix also. Your borrower may not want to mortgage both lots. Your in a difficult situation. You are the professional. Talk to your borrower and your client. Explain the situation to both of them on MV appraisal. I can do proposed improved lot by itself or I can do MV appraisal of both lots and HC they be sold together as of effective date of MV appraisal.

Your keeping clean on H&B use analysis. You are protecting your client and the property owner. I understand you are only responsible to your client. However


You set the SOW on MV appraisal. Your client don't set the SOW. The property owner don't set the SOW. You do.

 

[mp2277]

Your borrower is in the mix also. Your borrower may not want to mortgage both lots. Your in a difficult situation. You are the professional. Talk to your borrower and your client. Explain the situation to both of them on MV appraisal. I can do proposed improved lot by itself or I can do MV appraisal of both lots and HC they be sold together as of effective date of MV appraisal.

Your keeping clean on H&B use analysis. You are protecting your client and the property owner. I understand you are only responsible to your client. However


You set the SOW on MV appraisal. Your client don't set the SOW. The property owner don't set the SOW. You do.

Not trying to be rude but did you read my post or someone else's? Both lots? What?