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Watch the new home builders during construction

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Restrain

Thread Starter
Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
New home builder in the Ft. Worth area is in trouble. Coleman homes, a tract home builder, was building homes in northwest FW. The homeowners are now being evicted by the city because "the homes don't meet code". 2nd floors bounce enough to shake the pictures from the walls, roof support structures do not match with wall structures, etc. Homes are essentially coming apart and are less than a year old. The question is how these passed city inspection during construction.

At least I didn't appraise any of these. It's going to be interesting if there's going to be any recourse against the appraiser or appraisers who did. Of course, since they don't require new appraisals for the company's internal mortgage company, there were probably 6 appraisals for the whole subdivision based on plans and specs.

Roger
 

Blue1

Elite Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
California
YEOW!!! Scary, real scary! When I do a new construction I make my appraisal subject to a Certificate of Occupancy issued by the local authority. I scan in that Cert. and place it with my final inspection report. That way I have proof of the City granting occupancy and I have a signature of the City official. Also, it helps to disclaim that you are not a contractor, inspector, etc. 'Course, nowadays, a lawyer can twist anything any which-a-way........
 

Ronnie McFadden

Freshman Member
Joined
Oct 14, 2002
I also make the appraisal Subject To a local CO, although I have seen them issues one in some states with half the house built! I do agree Lawyers can twist quite anything :twisted:
 

Bill_FL

Senior Member
Joined
Aug 23, 2002
Professional Status
Certified General Appraiser
State
Florida
RS,

In Texas is an appraiser allowed to quote code or make an opinion of weather or not something is to code? In NC the only people who can are code inspectors. We can see something glaring and can not mention it.

I always make construction appraisals with a line about the appraiser assumes the home will be built with good quality workmanship and materials and will meet or surpass all local and applicable building codes.
 
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