Provide Legal Documents: An appraiser should have a preliminary title report and TDS for a FHA appraisal since FHA says the mortgagee MUST provide
Sourced through Scoop.it from: sacramentoappraisalblog.com
10 things Appraisers are now being asked to do for FHA appraisals
1.) The Appraiser MUST…
2.) Observation vs. Inspection: The appraisal “inspection” is now called an “observation” instead of an “inspection”.
3.) Angled Photos
4.) Legal Nonconforming Zoning
5.) Provide Legal Documents: An appraiser should have a preliminary title report and TDS for a FHA appraisal since FHA says the mortgagee MUST provide “any other legal documents contained in the loan file” to the appraiser. We all know that rarely happens.
6.) Full Attic Obseration (Maybe): Appraisers will need to fully access the attic and crawl space if there is space available to do so.
7.) Airport Contour Maps:
8.) Two Years of Roof Life
9.) Consider Three Approaches To Value: Sales, Cost and Income
10. Sump Pump
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