HUD HOC Reference Guide
Construction & New Homes: IntroductionChapter 1
Appraisal & Property Requirements
E. Subdivision approvals | F. Final inspection on properties
It is the appraiser's responsibility to determine the exact category of "CONSTRUCTION" they are appraising. This is reported on page 1 of the URAR in Description of Improvements.
The "category" in which the appraiser reports the construction status is important for several reasons:
The condition of the site on the date the appraiser makes their on-site appraisal inspection (i.e. date of valuation) determines the project's construction status.
|Content Archived: October 25, 2012|