Occupancy Verification

[Pilgrum]

One of my clients has just asked me to verify owner occupancy on a property that I appraised several months ago. (Appraisal was for a sale w/FHA financing. Property was vacant at the time of inspection.)
Have any of you ever done one of these and, if so, how did you report your findings? Is there a form?

 

[VegasWayne]

How do you prove owner occupancy after the inspection, kick in the door and demand ID from the occupant? The lender should be requiring that utility bills in the borrower's name be sent to them. I would tell them that it is not my job and to hire a private detective.

 

[Mike Boyd]

How are you suppose to verify occupancy with a vacant house? Stupid underwriter should go back to private detective school.

By the way, I do not believe verifying occupancy is an appraisal function. Even if it is a refi, I am not going to ask the occupant for identification proving that he/she actually lives there. Too much liability. It is the loan officer's job, the underwriters job or any EMPLOYEE of the lender/mortgage broker.

 

[Joyce Potts]

There's a simple solution to this issue, however, the lenders would prefer the occupancy police monkey and liability be put on the backs of the appraisers. Just have the borrowers sign an owner-occupancy affidavit at closing.

Caveat your report and put your clients on notice that you are NOT the occupancy police, at the very least.

 

[J in Florida]

There's a simple solution to this issue, however, the lenders would prefer the occupancy police monkey and liability be put on the backs of the appraisers. Just have the borrowers sign an owner-occupancy affidavit at closing.

Caveat your report and put your clients on notice that you are NOT the occupancy police, at the very least.

^^^This. Did they stip you to come cut their grass on Saturday morning as well? Maybe pick up their laundry for them?

 

[Mr Rex]

 

[mikeinpittsburgh]

I just had to do this.

"Home owner states that he is occupying the property".
I attached some pictures of furniture, kitchen appliances, a bed with sheets and pillows, and towels in the bath.

 

[Elliott]

Occupancy verification huh? What does one charge for that service? If
it was a sale, I guess you could go knock on the door and introduce yourself
and verify the sale with the new HO.

 

[Mike Garrett RAA]

And the beat goes on...next we will be required to check the home owner for a green card...LOL.

An investor purchased a house on my cul-de-sac after foreclosure. She spend a lot of money renovating the property even though it was just 7 years old even finishing the basement. She stopped by to tell me about the wonderful tenants she found for the property. A single mom with one small child.

Well the single mom now includes at least 3 or 4 men coming and going all hours of the day and night. There are four cars, two in the garage and two in the driveway and they are always moving them around.

The lawn turned into weeds as the "perfect tenant" refused to water because "it cost too much". Of course she drives a Mercedes 500 and doesn't work. Finally started watering the lawn but hasn't cut the grass and it is 8" tall.

Another neighbor says the interior is being beat all to hell. Seems her daughter plays with the daughter of the "perfect tenant". I fully expect to have the police raid the house one of these days.

I have called the property owner several times. Don't think she really cares what is going on. Can you say...drug dealer?

 

[mikeinpittsburgh]

I charged what I thought my time was worth.