Anyone doing these?
New HUD standards effective Sept. 1, 2011
http://www.hud.gov/offices/adm/hudclips/letters/mortgagee/files/11-21ml.pdf
Surveyor Instructions
http://portal.hud.gov/hudportal/documents/huddoc?id=92457am.pdf
Surveyor Report
http://portal.hud.gov/hudportal/documents/huddoc?id=92457m.pdf
Seems to me the HUD is asking for quite a lot from the surveyors report. Including Item 6 which to my understanding is the zoning information as provided by the title company if and only if they are preparing a separate zoning endorsement on the title commitment.:-/ Which is spendy!:rain:
Im just prepping a proposal but obviously to me, the fee will be substantial based upon the additional Table A Items required and the requirement of the HUD report. 🙁 Additionally a recorded Record of survey will be required.:good:
Big fee, client will throw up in their mouth a bit, and probably move on.+o( I'll be happy to explain myself, fee and services; (got to keep a good name for the profession;-) ) but.....most likely I won't be doing this one. Honestly without researching this to the utmost degree, Im not sure I would even want to sign the HUD report, but I figure someone out there is doing it. What say you?:brb:
I just completed one on an apartment complex. not as scary as they look. look out for 11b. they want to add that in and it aint cheap.
Item 7 eliminates the entry into building for measurements, but Item 10 reinstates it in order to get accurate measurement!...or am I missing something?
Item 7 is for buildings onsite, contained within the property and yes no internal footprint required for square footage.
Item 10 is related to Party walls that split the ownership just like one would find in a condo and or older downtown buildings built with a common wall.
That's how I see it.