• Welcome to AppraisersForum.com, the premier online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Under construction FHA

Status
Not open for further replies.

Doug

Thread Starter
Freshman Member
Joined
Feb 21, 2002
I am doing an FHA on a property that is 90 to 95 % completed according to the listing agent. I am getting plans/specs soon. My question is that if it is not complete and i do not need the V.C. sheets, Then at my inspection , am i only verifying what plans/specs will have? Do i do all the typical FHA inspections/samples?
 

larryhaskell

Senior Member
Joined
Apr 23, 2002
Professional Status
Certified General Appraiser
State
Nevada
My understanding is that you inspect the property per plans and specs. A HUD approved Compliance Inspector is the only one that can do a final inspection and she/he will verify that the final product complies with the plans and specs.
 

rtubbs

Junior Member
Joined
Jan 15, 2002
Doug, see the Homeownership Center Reference Guide (page 1-9-if I have the latest version); basically says:

if not 100% complete at time of appraisal:
a. must have complete set of plans, specs & builders cert;
b. appraiser will call for final inspection by FHA fee inspector; make the following statement in the appraisal "Property under construction; complete according to the submitted construction exhibits."
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at
AppraiserSites.com
Top

AdBlock Detected

We get it, advertisements are annoying!

Sure, ad-blocking software does a great job at blocking ads, but it also blocks useful features of our website. For the best site experience please disable your AdBlocker.

I've Disabled AdBlock
No Thanks