.

Goodwin Appraisals Inc.

P.O. Box 1220

Lake Panasoffkee, FL 33538

goodwinappraisals@gmail.com & hankgoodwin@earthlink.net

352-303-2660 Cell

352-748-0256 Office

 

Due to new FHA guidelines Effective 09/15/2015 a fee Increase will be necessary due the following circumstances:

1.       Requirement to operate and ensure that appliances are functional that convey or are present at the time of inspection. This will vary depending on the appliance count and appliance type. This would include appliances that are considered to be personal property. FHA guidelines does supply a clear guideline on a standard for functionality of the appliance. I am one of a few appraisers that have extensive background in construction, electrical and mechanical components to complete these assignments with competency. Inspection time needed to inspect will vary depending on the assignment.

(Washer, Dryer, Dishwasher, Garbage Disposal, Refrigerator, Freezer, Microwave,  Oven, Stove, Stove Top, Water Heater, Gas Water Heater, Fireplace (gas))

USPAP requires competency in these areas. This additional scope of work is being required that currently is not in our scope of work. 

2.       Roof must be inspected (entire roof must be visible and any areas not visible must be inspected from the attic or from the ceiling below). But if the attic has a proper access the appraiser shall inspect the attic (beyond a head & shoulder inspection). This requires additional equipment and safety gear to accomplish the inspection.

3.       If the subject has a crawl space with proper access, the appraiser shall inspect all of the crawl space. That means crawling underneath the home to inspect. Time needed will vary depending on size of home and obstacles. This goes beyond a head & shoulders inspection.

4.       All cabinet doors and drawers have to be checked for functionality. Time will vary depending on amount of cabinets.

5.       The entire site must walked and inspected by the appraiser.

6.       Appraiser must analyze sales history of comparable sales for 36 months.

7.       Condo’s all common areas, amenities onsite and offsite must be photographed.

8.       Additional commentary will necessary to address the areas beyond a simple comment.

9.       Additional photos will be necessary to provide proof of compliance.

10.   Increase in workfile’s size (document retention requirements) and file sizes of reports will increase.

The new requirements and additional liability provide a challenge to the appraiser. Each assignment will require a longer inspection time to accomplish needed tasks. All utilities will need to be on (including natural gas / propane). Scheduling for appointments will need to be handled differently. All appointments must start before 2 pm due to limitation of lighting (sunset issues).

The appraiser will need to provide additional equipment and tools to perform the inspections in a safe manner.

The appraiser is being required to expand the scope into the profession a home inspector. This increases the appraiser’s liability due to these changes. You need to ensure that appraisers on your panel can prove that they have competency for this type of an assignment.

Lender / Client requirements:

1.       Provide a survey (will be requested if well and septic is unable to be determined by surface inspection or possibility encroachment).

2.       Provide sales contract (if a purchase).

3.       Provide details on how to handle appliances performance specifications. (Example: Do we run each cycle on a dishwasher? The same with dryer, washing machine, microwave, stove temperatures & oven temperatures or just 1 setting per appliance?)

Fee Structure:

Turn Times will be increased due data being documented (10 business days).

FHA - $1000.00 Inspection (home with acreage under 0 to 3 acres)

FHA - $1200.00 Inspection (home with acreage over 3 to 10 acres)

Over 10 acres will need to be quoted.

Trip fee - Re-inspection of utilities being off - $250.00 – Unknown what appliances will need to run or for how long.

Trip fee – Re-inspection of completed repairs $150.00

I can provide support for background and experience to comply with competency