Transcription of APPENDIX D: VALUATION PROTOCOL - HUD
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APPENDIX D: VALUATION PROTOCOL - HUD
1/06 D- 1 APPENDIX D: VALUATION PROTOCOL The appraisal process is the lender s tool for determining if a property meets the minimum requirements and eligibility standards for a FHA-insured mortgage. Underwriters bear primary responsibility for determining eligibility; however, the appraiser is the on-site representative for the lender and provides preliminary verification that the General Acceptability Criteria standards have been met. FHA RESIDENTIAL APPRAISAL REQUIREMENTS This section provides specific instructions for completing appraisal report forms. The appraisal reporting form to be used will depend on the property type that is being appraised.
B. “Subject to Completion per Plans and Specifications” 1. Proposed Construction where construction has not started, or 2. Under Construction but not yet complete (less than 90%), or 3. Regular 203(k) C. “Subject to the following Repairs or Alterations” 1. Repair or Alteration Condition(s) noted by the appraiser, or 2. Streamline 203K, or
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