You won't believe this

[Zoe]

https://yelp.to/DOmZZ6yIN6
It's still there! Cordova International Farmers Market 1150 Germantown Parkway.

yeah, it is a great store. There is another one in southeast memphis off Winchester I think. The farmers market still operates at the agricenter down Germantown parkway too.


I got the low down from VA this morning. They said no, you can't certify to the plumbing repaired, the roof being repaired, or any electrical being repaired.

They said call the lender and tell them that whoever did that work needs to be licensed and bonded and give the lender a letter saying those items have been repaired. Then we are good to go with the lender.

VA don't want anybody taking advantage of the veteran.

So, I went back again at request of lender this morning. They said fine on you certifying to peeling paint and rotten wood being repaired, broken window. Charge the lender again.

They said veteran don't pay for final inspections.

BTW, the electricity and water were not even running this morning. I can certify there was no running water or electricity. LOL

 

[Zoe]

VA basically said don't put that liability on you. We got your back. Let the lender have a licensed and bonded contractor certify to those issues. We can handle it from there for the veteran.

VA is like lenders want to throw things on the appraiser. Don't let them do it.

You can call the MPR requirements out. You don't have to certify to all the MPR requirements being completed.

In other words..........you can do "subject to" and just don't certify Items you are not a specialist in............. have been completed.

 

[Zoe]

I'm happy camper now. I will get one more inspection fee. I could make more money working on something else. Trust me. Waste of my time.

Limits my liability if a licensed and bonded contractor certifies it to lender. Then lender has to upload that to VA.

See?

The licensed and bonded contractor also certifies to the veteran in an indirect way that the MPR items are completed.

 

[Zoe]

I am not sure that person told me right yesterday. I somehow got the Denver RLC office when I called VA yesterday. I am going to call the SAR this morning and ask them how I need to proceed. The SAR is the underwriter for the lender. The SAR is underwriter for VA too. They are the one that issued the NOV. They can tell me what they want me to do.

 

[sputnam]

No, no. Bringing it up is fine, but you don't need a new appraisal. They are improving the property even more after the date of your appraisal. They do that and your repairs, why a new appraisal when the original one is good enough. As far as redoing the bathrooms. Better to redo them before the veteran moves in, then doing them when living there. Buyer and seller do what's best for them, it's not a stupid thing on this one.

Some of yous were never in the mortgage business, or r.e. sales. I was both. This is a nothing burger after the 1004d is completed.

Agree. IMO, when doing a 'final' inspection, the appraiser's role is to simply be the Client's eyes. Report what you find. That's it. It's the Lender's job to decide what to do with it.

 

[Zoe]

I agree with that as long as I keep the same effective date. What my concern is as of yesterday is there was no water or electricity on. That is a problem. The previous owners went through a divorce and the utilities got cut off. I don't know what SAR will tell me to do. As long as the SAR is on my side, I am backed up by the SAR on that.

I don't know if the SAR wants me to certify to the roof or the bathrooms being redone. I told agent and contractor that did it what that guy out of Denver told me to do.

I told the agent to get the contractor to certify the plumbing and electrical and roof are good to the lender. Plus, the contractor can certify to the SAR and lender that the utilities are working. No electricity or plumbing working is an MPR.

As soon as I can get SAR this morning, I will make sure the contractor gives the lender and SAR what the SAR needs.

The SAR already has two of my final inspections that failed. That needs to be my contact because the SAR signed the NOV.

The SAR knows the VA lenders handbook backwards and forwards.

I still don't know how I got connected to a VA employee in Denver RLC.

That has never happened before. Something in the phone system is messed up. I do have the SAR's direct phone number and email. This will get resolved this morning.

 

[Zoe]

Talked to SAR. He is employee of lender. He said just send in the next final inspection subject to and we will go from there. He said it was good you asked the agent that is representing the buyer and seller to send in letter certifying everything is good on plumbing, electrical, roof, peeling paint, broken window, exposed electrical wires etc.

He is like we don't have to lend on it if they can't get it right.

I had a feeling it was going that road. The SAR was like we trust you. You do what you are comfortable with.

This SAR works as an employee of the lender.

Many SARS are employees of the RLC for VA.

 

[Zoe]

I sent it in and let agent and lender know. I attached the letter from the contractor. It should fly.

It does remove some monkeys and alligators from my back.

In commercial work it is not uncommon to rely on engineers reports and other professionals reports in the appraisal.

 

[Sadie]

I think I will need new effective date now for the lender or another lender. This is a sales transaction.

I explained to lender that value is going to increase when they renovate these bathrooms. Crew working said we are totally redoing these bathrooms.

Sales agent quit ranting.

Lender is not ranting. Lender said thank you.

Did they give a reason for the torn up bathrooms? Morons

 

[Zoe]

Did they give a reason for the torn up bathrooms? Morons

Don't tempt me. I can get ugly. I have been nice in this transaction.