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A Closer Look At The FinalInspection. You may have heard of an appraisal inspection but what is a finalinspection? For many types of appraisals, there is only one inspection or observation as we like to call it. Because an appraisal is nothing like a home inspection, that term could be somewhat misleading.
Well – not really the end, but one of the last parts of some appraisals – namely the finalinspection. We’ll briefly look at what a finalinspection […]. The post The Loan Officer’s Guide to Appraisals, Part 1: The FinalInspection appeared first on Riverfront Appraisals.
While most appraisals only require a single field visit—and in some cases none—when it comes to appraising new construction, you may need to visit the property several times. You will also need to conduct a finalinspection. Inspection during construction. Finalinspection.
This month’s blog post will be all about new construction appraisals. The post The Loan Officer’s Guide to Appraisals Part 9: New Construction appeared first on Riverfront Appraisals. This entire year, I’ve been blogging once a month with the purpose of assisting loan officers to better understand the appraisal process.
6 Tips for Appraising New Construction Homes Excerpts: Lenders, FHA, and the GSEs (Fannie Mae and Freddie Mac) treat new construction a little differently. When appraising new construction homes, certain factors that don’t always apply to existing dwellings must be considered. I finally quit doing them – too much hassle.
FNME will now allow a borrower to provide an attestation letter to verify repairs were made if they were required or for a builder to provide an attestation letter to verify a new construction is 100% complete. How could this go wrong?
First we must understand that the term “mobile home” is obsolete and refers to transportable homes constructed prior to June 30, 1976. The major distinction between a modular and manufactured home- the standard to which they are constructed. Manufactured homes are built 100% off site and constructed on the chassis.
” “When to use new construction or remodeled construction as a comparable.” Educate yourselves on construction details and styles of homes. ” “City codes and guidelines so finalinspections are not necessary. .” “Location, location, location! Exaggerating isn’t cool.
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