Chapter
1
Appraisal
and Property Requirements
Page
1-08f
Final
Inspection on Properties "under construction" or "existing
less than one year old". Please see: HUD Handbook 4145.1
Chapter 6-3
If the home is 100% complete at time of the appraisal and the
appraisal is to serve as the final:
- The
appraiser must have a complete set of the plans, specifications
(as described in Section C) including the Builders Certification
HUD-92541
in order to do the appraisal.
- The
appraisal serves as the final inspection and Form HUD-92051
is not required:
-
The appraiser is to verify general conformance with plans and
specifications;
-
Inspect for health and safety violations;
-
If no health and safety problems are noted and the property
is ready for occupancy, the appraiser is to make the following
statement in the remarks section of the appraisal: "This
is a newly completed dwelling and appears to be in conformance
with the submitted construction exhibits."
-
Take a clear photograph (in addition to the standard appraisal
photos) of each diagonally opposite front and rear corner of
the house to record adequate grading and drainage of the site;
and
-
Make a statement on the appraisal report of the acceptance of
the grading and drainage.
If the property is under construction and NOT 100% complete at
time of appraisal:
- The appraiser must have a complete set of the plans and specifications
and the Builder Certification in order to do the appraisal (as
described in Section C).
- The appraiser will perform the appraisal and call for a final
inspection to be completed by a FHA Fee Inspector; or, when
applicable, the local authority or equivalent. The appraiser
will make the following statement on the appraisal report: "Property
under construction; complete according to submitted construction
exhibits."
- When the final inspection is completed by a fee inspector, the
inspection will include photographs as noted in Item 1 above
along with a statement on the HUD-92051
as follows: "This is a newly completed dwelling that was
not completed under HUD or VA inspections. The dwelling appears
to be in conformance with the submitted construction exhibits."
Refer to HUD Handbook 4145.1
Chapter 6-3.
The Department requires that all utilities are on and fully functional
during a final inspection otherwise, the property is not 100%
complete.
Note:
"Local Authority Construction Inspections". Individual
HOC jurisdictions.
Construction
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