I have reviewed prior threads regarding this issue and still have concerns. I completed an assignment with a contract signed. by both the buyer and seller with an effective contract date of 01/09/2017. I was then provided an Amendment to the base contract changing the purchase price dated 01/20/2017, which was also signed by both the buyer and seller. The effective date of the Appraisal was 01/20/2017. I completed the assignment and entered the revised purchase price from the amendment and 01/20/2017 as the contract date on Page 1 of the URAR.
The lender has requested the contract date blank to be changed to the original contract date of 01/09/2017 since this was the effective contract date and they believe the Amendment did not change this date.
My defense is that Fannie Mae section B4-1.3-02: Subject and Contract Section of the Appraisal states, "Contract price must be the same as the sales price for the subject property in the Sales Comparison Approach section", which in my opinion refers to the date when all parties have reached a final agreement. Therefore, the contract date would be when all parties to the contract have signed the last agreement or addenda to the contract. Riders or addenda are special attachments (separate sheets) that become part of the contract. Therefore the date would be 01/20/2017, date of the amended contract.
I did make note of the original contract price and date when discussing and analyzing the contract.
Would it be acceptable to enter the amended price in the price blank and the original contract date in the date blank and then explain?
Please advise me on which date that you would enter in the contract date blank, and any support that you may have.?
The lender has requested the contract date blank to be changed to the original contract date of 01/09/2017 since this was the effective contract date and they believe the Amendment did not change this date.
My defense is that Fannie Mae section B4-1.3-02: Subject and Contract Section of the Appraisal states, "Contract price must be the same as the sales price for the subject property in the Sales Comparison Approach section", which in my opinion refers to the date when all parties have reached a final agreement. Therefore, the contract date would be when all parties to the contract have signed the last agreement or addenda to the contract. Riders or addenda are special attachments (separate sheets) that become part of the contract. Therefore the date would be 01/20/2017, date of the amended contract.
I did make note of the original contract price and date when discussing and analyzing the contract.
Would it be acceptable to enter the amended price in the price blank and the original contract date in the date blank and then explain?
Please advise me on which date that you would enter in the contract date blank, and any support that you may have.?