Now Power

[RSW]

That is correct, the appraiser does not change the value on a CIR. They only report whether checkbox 2 & 3 items are complete. But the original report has a value that is subject to the HC and/or EA check boxes. If any of those items are waived, the opinion of value is no longer valid and if anyone wants to know how that waiver might have affected value, they'd have to order a new appraisal. The new opinion of value would be on that new appraisal, not on the CIR.

The very nature of HCs and EAs are that if things turn out different than the assumptions and conditions, the opinion of value is subject to change.



That won't happen in practice because FHA would not allow those items to be waived. And if they did, they wouldn't order a new appraisal because the appraiser would just be obligated to make the same HCs and EAs again. It just wouldn't make sense; an endless loop.


Since FHA and GSE guidelines have certain required "subject to" items, the only way the reporting flow works properly is for all requirements to be taken care of in the proper order.

If the power was not on during the initial visit, the proper procedure is to re-vistit after the power has been turned on and before the report is delivered.

When proper work sequence is not followed, things get messy real fast.

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Regarding the issue of only one appraisal per six months, if the first appraisal never reached the "satisfactory completion" status, it would never be entered into the FHA Connections system. It would exist in the real world but not in FHA's system.

If this appraiser delivers one report with no utilities and is eventually sent back out after all the utilities have been turned on, there will be a new effective date. There is simply no way around that. And that will be a new appraisal. If the first appraisal had never been sent, then the new effective date would be the first appraisal.

If the

Now I agree with you. But, I don't think I would want two appraisals with my name of them that had the same FHA case # running around.

 

[Mike Boyd]

I know that most of you know this: Power not on......check the main and breakers. The power company will not re-set the main unless there is someone responsible inside the house to observe.

Water not on: Check the valves under the sinks.

Gas not on: Check the pilot.