portlm.blogg.se

1. DAIR APPRAISAL FORM PDF
2. DAIR APPRAISAL FORM UPDATE
3. DAIR APPRAISAL FORM VERIFICATION
4. DAIR APPRAISAL FORM SOFTWARE

A true 1004D with value recert, probably comes with a fresh grid and a new comp or two. And of course, the 1004D does not require the MC, and that’s where the whole thing goes haywire in the underwriting xml review process. Lenders often reject the proper use of 1004D w/ value recert, because that nullifies the original market data. Most of the heavy lifting is done, but anything which requires a renewed effective date analysis, practically requires an entire new workfile to accommodate the market data. If lenders need a renewed effective date outside of FHA, they should order a new appraisal entirely, but should also be able to cop a discount if the same appraiser revisits the analysis. I think that’s 4 months, but it’s fluxed between 4 and 6 if I recall correctly.

DAIR APPRAISAL FORM VERIFICATION

The check box for verification of MV should only be requested, and should only be checked by the appraiser, when there is an issue with expiring age life of the appraisal effective date, per FHA shelf life rules. I’ve recently moved my 1004d verification of condition fee up 50 bucks, and value recert is more. Appraisers completing stand alone 1004d’s in leu of 2075’s are operating incompetently. It is the appraisers responsibility to provide appraisal consultation if necessary. Anything else is misleading to the report user. Personally I refuse to follow up with a 1004D, unless I’m the originating appraiser. It is not a stand alone report, and I have never, and will never, provide a 1004D without an accompanying report for it to attach to. The FHA specifics on the 1004d is that it rides ‘by attachment’ to an original report. We were getting 250 for those at one point. I remember the good old days when 2075’s aka the PIR, were used for streamline refinances, and not just disaster or visual verification. But I suggest you maintain a workfile for the ‘Disaster Inspection Condition Report’ assignment, per USPAP’s Record Keeping Rule. Observing exterior conditions and reporting what you see in a simple format is not an appraisal assignment because no value statement is made.

DAIR APPRAISAL FORM SOFTWARE

You may need to add an Extraordinary Assumption statement in the report.Įach of the various appraisal report software vendors should have a similar form as the one in my report. The added Property Condition Report form with photos gives the lender enough info to satisfy their evaluation of their property at a current date.īe real careful if you suspect any potential damage that cannot be readily observed from the street.

DAIR APPRAISAL FORM PDF

And then add a Property Condition Report form to the 1004D, along with photos, such as you see in the PDF below. The solution to this requested nonsensical form for this disaster inspection is to use verbiage like I have on the 1004D.

If you do, you are committing yourself to a USPAP appraisal.Īnd you can’t use the Certification of Completion either!

DAIR APPRAISAL FORM UPDATE

One as of the day before the disaster date, and the other as of the current date, which is not normally the Scope of Work for a low fee ‘Disaster Inspection Condition Report.’ I don’t recommend checking either Update box, regardless of the property condition. If the property is sitting there ‘today’ all pristine, unaffected by any events surrounding the declared disaster, and you have no record of a prior appraisal, you cannot check either box in the 1004D update section, without conducting at minimum two desktop appraisals. Or if the property HAS BEEN COMPLETED per original plans & specs, or subject-to repairs or recommended inspections.

The 1004D is designed to provide a notice to the lender if the property HAS GONE DOWN IN VALUE, which technically is an appraisal assignment. These forms are not normally ordered for a ‘Disaster Inspection Condition Report’ anyway. All the client really cares about is whether their property is still standing, with doors, windows, walls, and roof, with no observed damage to the structure or property, at a low fee. But those require inputting local market data statistics and trends, which the lender client may not need or want. This is something the GSE’s should correct!īefore you begin screeching at me, yes, the GSE 2070 or 2075 form is a possibility. Because their systems only recognize common GSE forms, they, and we are stuck with the 1004D – at least as the ‘starting’ form.

Unfortunately, there is no ‘one common property condition inspection form’ that lender clients can use, like there are for residential, condo, and multi-family properties. The hiccups, hang-ups and head scratching occurs when the lender or AMC asks for a ‘Disaster Inspection Condition Report’ to be done on the wonderful 1004D form.