Betty H Church
Junior Member
- Joined
- Oct 20, 2006
- Professional Status
- Certified Residential Appraiser
- State
- Nevada
I prepared an FHA appraisal for the purchase of a home 2 months ago and the borrower backed out. There were repair issues. I've been asked to do an FHA appraisal for the purchase of the same home, and again by the same lender/client. The FHA Case #'s are the same. I know this is a new assignment, new file, new research and new fee. I haven't seen the new purchase contract yet, but will shortly.
My question is, is it only the FHA Case # that stays with the property for six months and not the borrower's information? Next question, what kind of ramifications, if any, could occur with FHA having two appraisals from the same appraiser within a 2-3 months period with different values - which will most likely be the end result due to the decline still being experienced in the subject's market?
Would appreciate any and all opinions/advice.
My question is, is it only the FHA Case # that stays with the property for six months and not the borrower's information? Next question, what kind of ramifications, if any, could occur with FHA having two appraisals from the same appraiser within a 2-3 months period with different values - which will most likely be the end result due to the decline still being experienced in the subject's market?
Would appreciate any and all opinions/advice.