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Cosmetic vs. MPR Repairs: Guidance for FHA Appraisers

McKissock

the intended users for an FHA appraisal report are FHA and the mortgagee. FHA appraisals are not a guarantee that the property is free from defects. The appraisal establishes the value of the property for mortgage insurance purposes only. When can an FHA appraisal be completed “as-is” vs. “subject to”?

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What’s that Smell Worth? Insights from a Seasoned Appraiser

McKissock

For example: I had an assignment to appraise a 3,500 sq. The standard appraisal report’s definition of market value refers to “typical buyers,” most of whom would become acutely aware of such odors right at the door, and when it’s significant will either walk away or discount their offering price.