appraisals: THE 20 THINGS YOU NEED TO CHECK OFF BEFORE YOU GET AN FHA APPRAISAL - 04/17/14 09:02 AM
This is a checklist given to me by an Appraisal Management Company.  It can literally save you thousands of dollars and may prevent delaying or even killing a transaction due to property condition.
FHA APPRAISAL PREP CHECKLIST
1. Carbon Monoxide (CO) Detectors – ALL LEVELS
2. Electricity ON
3. Water ON
4. Gas ON
5. Water Heater DOUBLE STRAPPED
6. Hot Water – FUNCTIONAL
7. C/HA - FUNCTIONAL
8. Kitchen Appliances – FUNCTIONAL
9. Pool – FULL/EMPTY/GREEN MUST NOT PRESENT HEALTH/SAFETY ISSUE
10. Spa - FULL/EMPTY/GREEN MUST NOT PRESENT HEALTH/SAFETY ISSUE
11. Out building – Condition?
12. Safety? (Railings on decks/patios … (1 comments)

appraisals: FHA Loans and Property Condition Appraisal Issues with FHA Mortgages Alameda Ca Alameda County - 11/22/10 06:13 AM
As a loan originator, I am constantly telling buyers and real estate agents that there is more to an FHA transaction than a conventional transaction and the lenders will look at the details of the file much closer. 
What does this mean exactly? Well the application is longer and has a separate set of disclosures required by HUD.  There seem to be twice as many conditions to get closing docs out and there could be a lot of surprises, especially when it comes to property conditions.
To offer an example, my team just experienced first-hand how the interpretation of the condition … (0 comments)

appraisals: Appraisals in the Year 2010 - 01/22/10 12:17 PM
I realized after one of my recent blogs - THESE REAL ESTATE AGENTS ARE NUCKING FUTS, that not many agents or sellers or buyers know what a lender asks from an appraiser.  Its easy to point the finger at the appraiser and call him an idiot but I have found that when we do have a low appraisal many of the comps I get from agents don't qualify as they are too new, too far away, etc. So I asked lenders for guidelines and reviewed with a couple appraisers and made this...ENJOY!
 

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