Comments on: FHA Appraisal Issues

By: Nashville Grant

Nashville Grant — Sat, 13 Mar 2010 03:36:56 +0000

I’m pretty sure appraisers are evil (sorry, just read Gwen’s last article and she got me in this mood). I do have a real question: do appraisers usually use the cost basis method when appraising new construction short sales? Seemed unusual to me.

By: Jim S

Jim S — Fri, 24 Jul 2009 21:14:18 +0000

Hi,
Another quick question. It looks the deal to sell my home may fall through because, while my home appraised well 3 months ago when it went on sale, now that I have a potential buyer, the FHA appraisal is looking at what are now the most recent sales in my area. Unfortunately, all recent sales have been foreclosures. So it looks like the comps are all well below the agreed-upon price for my home. The buyer can’t scrape together more $ for the purchase, though he and his realtor agree that my house is indeed worth the price they are offering. Any suggestions? It seems like all those who foreclosed in my area are penalizing me for attempting to unload my house the traditional way.

By: Ben Goheen

Ben Goheen — Fri, 10 Jul 2009 23:49:05 +0000

Roger – the potential buyer or their agent might tell you the value out of common courtesy. However, they have absolutely no obligation to letting you know what the appraised value was. I wouldn’t even try asking the appraiser – their client is the lender, not you.

By: roger mathew

roger mathew — Fri, 10 Jul 2009 22:08:45 +0000

Hi
I had a quick question. One of my clients had a buyer who was using the FHA loan/appriaser. The appraisal came lower than the price and deal fell through. The buyer never communicated the appraised value and just walked off. Now, the seller wants to know the amount at which it was appraised so they can adjust their price. My question would be that is the seller entitle to a copy of the appraisal? How can go about getting a copy and how long does it take?

By: SREMI (Steve Remillong)

SREMI (Steve Remillong) — Tue, 30 Jun 2009 19:10:08 +0000

FHA Appraisal Issues | Real Estate Opinion MAG – AgentGenius http://tinyurl.com/lxaons

By: Bridget Magnus » Friday Figures for 6/19/2009

Bridget Magnus » Friday Figures for 6/19/2009 — Fri, 19 Jun 2009 16:33:31 +0000

[...] for 90 days (unless their lease ends before then). And one last thing, FHA borrowers need to be aware of the rules about property condition, particularly when purchasing foreclosed or short sale properties (remember, buyers have the legal [...]

By: Joespake

Joespake — Fri, 19 Jun 2009 14:07:36 +0000

The median price in my market falls well below the FHA limit, so there are numerous FHA financed transactions here. If banks and investors would put a little money into their foreclosed properties to pass an FHA appraisal, it would stimulate the market. The position of the banks: [with arms folded] “as is, where is” is just not practical with the increasing numbers of FHA buyers out there. Many of the REO properties I show could be brought up to FHA standards for a few hundred dollars.