· I am getting ready to do an FHA appraisal on a new construction property. As of today, construction is 100% complete. Am I still required to get a signed copy of the Builder’s Certification form HUD-92541 before I appraise the property? I was lead to believe that this is an outdated.
Previously, FHA policy required properties under construction or existing for less than one year with a Loan-to-value (LTV) greater than 90% to have coverage under a hud-accepted ten-year warranty. The warranty is an agreement between the borrower and a plan issuer (typically the builder), which warrants the construction and structural integrity of the property.
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