Real estate blog entries tagged with fha appraisals by Lyn Sims - Schaumburg Homes (Schaumburg Real Estate - Northwest Suburbs

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Home : Blogs : Lyn Sims - Schaumburg Homes : Lyn Sims ~ Schaumburg Homes ~ Chicago Northwest Suburbs ~ Illinois Real Estate : Tag "fha appraisals"

fha appraisals: Appraisal Fee Reference Report - 02/26/10 12:55 PM

This is supposed to help lenders with the new guidelines (Real Estate Settlement & Procedures Act, RESPA) listing appraisal fees by county thruout the U.S. New FHA guidelines dictating that appraisers be paid 'reasonable and customary' fees for their areas.
My particular area in the Northwest Suburbs of Chicago is listed at $300.
Appraisal Fee Reference Report 2/2010
… (8 comments)

fha appraisals: FHA Appraisals and "the Rules" - 11/20/09 02:51 PM

FHA Appraisals and the Rules Lately in my area there has been a tremendous amount of miscommunication and misinformation with FHA appraisals. It is so rampant in our area that I've decided to post the drama.Schaumburg IL - Townhouse listing of mine does not appraise out and is $5000 under contract price. Seller does not want to sell at the appraisal price and the buyer doesn't want to pay the contract price. Deal dead which is easy enough. Buyer #2 comes along with their overzealous buyers agent, let's call her 'Gloria Go-Getter'. She's overcaffinated, overconfident, never listens to what is being … (11 comments)

fha appraisals: FHA Appraisals - 10/21/09 02:16 PM

FHA Appraisal Requirements Effective for all case numbers assigned on or after January 1, 2010, the validity period for all appraisals on existing and proposed and under construction properties will be 120 days. This change aligns FHA’s requirements pertaining to the validity of an appraisal with current industry practices. This is a change from the current validity periods of six months for an appraisal of an existing property that is complete, and 12 months for proposed and under construction properties.
How will this effect you as a buyer? Not much, except in occurances where the property you purchase has an existing FHA … (3 comments)

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