Questions For FHA

[Pamela Crowley (Florida)]

QUESTIONS FOR FHA

#1: If thermal window panes are fogged, do they need to be replaced?


What other questions would you like to have real answers to?

 

[Travis McGee]

No. Fogged thermal windows do not have to be replaced unless called for in the purchase contract.

Mike Boyd

 

[Brad Pack]

Originally posted by robert boyd@Apr 28 2004, 10:33 AM
No. Fogged thermal windows do not have to be replaced unless called for in the purchase contract.

FYI:
Verbiage contained in a purchase contract does NOT determine/dictate/limit the applicability of FHA's Minimum Property Standards.

 

[Travis McGee]

Brad,

I realize that but requiring compliance to the terms of the contract should be part of the appraisal report.

Mike

 

[Brad Pack]

Originally posted by robert boyd@Apr 28 2004, 11:00 AM
Brad,

I realize that but requiring compliance to the terms of the contract should be part of the appraisal report.

Mike

Incorrect. An FHA appraiser has neither the authority nor the responsibility to enforce the terms of a purchase contract.

The FHA appraiser's responsibility is to analyze, reconcile and report the terms of a purchase contract.

 

[CANative]

Hello Brad,

I would like to start accepting assignments for PROPOSED construction of HUD code manufactured homes. I have experience in appraising these types of properties for other types of financing but have a few questions before doing them for FHA.

Specifcially, for this type of assignment (proposed manufactured) do I need to obtain the following from the lender before proceeding:

Builders plans, specifications and construction documents (obviously, yes)
Completed builders certification (Form HUD-92541)
Builder's warranty (Form HUD-92544)
The 10-year warranty
All reports and information available (i.e. sales agreement (again, obvious) title reprot, environmental assessments or studies and inspection reprots.)

>If these documents are not provided, return the incomplete appraisal to the lender.

These requirements appear in 4-3 of 4150.2 for proposed construction.

 

[Patrick George]

The FHA regs require you to get that information from the lender or someone before starting an appraisal.. practically though, my expeerinence is that I generally have at least part of the work done before getting the bulk of the inforamtion and in fact hardly ever get the builders warranty.

It is very common to have everyone, lender, builder and agents balk and even get nasty over the request for this information, so don't be surprised by this reaction.. it happens to us frequently.. everyone knows they need to provide it but will always say "I've had X FHA Appraisals in this project and NOT ONE APPRAISER before you has alked me for any of this information" normally they are lying...

 

[Farm Gal]

Anyone recognize THESE goodies?!?!?

~~~~~~~~~~~
Exposed wires in a ceiling junction box.

Must the wires be capped (I think yes).

If it costs virtually the same to install a cheap light fixture as to have the electricain properly cap and cover the junction box... do we condition for the installation of a 'builders quality' fixture in that location, or just capping the box..


~~~~~~~~~~~~~

Are cabinets required in a kitchen, or just a sink base and place to hok up a stove.

~~~~~~~~~~~~~~

If a remodleing job has occurred, does all drywall have to be painted? Or is tape and finish mud sufficient (it ain't a VC 12...) an what VC is it under IF a repair needs to be effected.

~~~~~~~~~~~~~~

I am quite concerned with the 'saleability' issue that keep cropping up. Anyone know where that little term originated? ...and how do we kill it's little fanged self dead.

 

[Carol]

Greg,

Those documents are required up front. I just fax or email a copy of the appropriate page addressing the issue to the lender when challenged about it. No matter what they tell you, it is required. Tell them to take it up with HUD if they have a problem with it.

 

[Mr Rex]

FHA has the 3 S's. saleability,Safety, and Security. (4150.2 D-22) If anything in the house effects any of these items the appraiser is required to report it. The DEU has the right to waive any of these, taking the appraiser out of the loop.