Occupancy Verification

[Joyce Potts]

The lenders should be requiring proof of occupancy of the borrowers TO THE EXTENT that the State of Florida requires proof of residency to a driver's license or even a renewal.

 

[KenAZ]

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.

Stop making a big deal over nothing.

All you have to do is include a photo of the owner

 

[David Sawyer]

I had a similar request from a MB prior to HVCC. I had a legit excuse. I had "borrowed" the plans and stated this as I had to return them to the subject address which the owner was having dinner during my arrival.

 

[Walter Kirk]

The answer to your question is in chapter 4 of the basic appraisal text. In brief you go to the property, bang on the door, announce very loudly that you are the occupancy police and demand that they show you their dirty laundry.

 

[Tim The Enchanter]

Seems easy to me. If it's vacant, it's not owner occupied.

 

[LadybugLover]

Had the same situation - DH did an FHA appraisal for client, dwelling was vacant at the time, there was an accessory unit that the borrower was living in at the time until the main dwelling was completed. Client calls and needs new interior photos showing the borrower lives in the new dwelling now - it was vacant as of the effective date of the appraisal - not our problem ...... borrower is a real estate agent, now the client is calling wanting a statement what percentage of the dwelling is used for business. uh, not our problem - doesn't affect the value of the dwelling if she has a desk in one bedroom and is working - borrower calls yesterday and says her loan was denied because we said she didn't live there and was working out of the house - uh, wrong again - never said any such thing. Now she's going to another lender and wants her appraisal so she can take it to them .... uh, not happening.... Glad we're leaving on vacation in two days and won't have to deal with it for a week or so.

 

[Pilgrum]

This is a VERY good client. Otherwise I might have said something akin to "go pound sand".
I had another appraisal in the neighborhood this morning so I sucked it up and knocked on the door of the subject. The door was answered by a lady in her pajamas and sleep in her eyes. OH OH! No big deal. She invited me in, showed me a current utility bill and offered coffee. I was glad to see the interior of the subject as the buyers had done some extensive remodeling before they took occupancy.
As a business decision I didn't charge for this service. Also I don't think I want to do another one so I have to learn to tell this client no.