All Forum Posts by: Jacob D Cockerell

Yeah, I've since looked into it a lot more. This is the first time I have come across an encapsulated crawl space in this area. It would seem that this particular crawl space did not have a dehumidifier. There were clear signs of moister build up.

The FHA handbook still requires a crawlspace be ventilated, but that does not mean it has to have vents. The difference in the uses of the words ventilated verses vented.

A lesson I have learned as an appraiser.  I recently appraised a home that was built in 2021. It had a crawl space with no vents. The block walls were sealed with a product similar to B-Dry, like you would normally find in a basement. There was also a thick plastic covering the ground. Despite this there were several areas of ponding water. The ponding water was not under any pipes or necessarily near the foundation walls, there was no clear indication from where the water came from. 

The HUD/FHA guidelines state that the crawl space of the home has to be adequately ventilated. To have air flow with no dead air. This is to prevent moister build up that can cause rot. Since there were no vents and clear signs of moister, I made the appraisal "subject to" proper ventilation to be installed and for the ponding water to be remediated.

Afterwards the listing agent contacted me for clarification. She wanted to know what ventilation was required and if there was an exception to the rule. The crawl space being designed and built that way, completely encapsulated and sealed. It felt like a disservice to install vents. I told her I was not aware of any exception to the rule. That I had looked for one before, when I first wrote the report because I kind of agreed with her. I told her I would look again and if there was any other solution to the problem, I would let her know. 

Since no more information could be found in the HUD/FHA handbook, or any online forums, I contacted HUD/FHA by phone. They informed me there is no exception. However, even though there were no vents in the crawl space, it is possible that the crawl space could be adequately ventilated through the interior of the home. That I cannot make the determination on whether or not the crawl space is adequately ventilated, and I should have made the report subject to an inspection by a qualified third party on if the crawl space is properly ventilated.

I am sharing this here to pass on what I learned to any other appraiser, agent, or anyone who has run into a similar salutation. A crawl space without vents doesn't necessarily mean that it is not adequately ventilated for HUD/FHA. A crawl space without vents should be inspected to verify it has proper air flow.

The Marshal and Swift cost handbook gives average cost to build houses. Has all types and for every region in the US. Even has adjustments for type of materials you can use. 

Keep in mind that if the manufactured home has been moved FHA and most lenders will not approve a loan. Moved meaning that it is not in its original placement from the manufacturer. I recently was assigned to appraise a manufactured flip that the owners had moved from one location to a new location. Interesting enough the foundation inspector had stated the home had never been moved. However, it took me maybe an hour of research to discover it had been moved twice. One of its prior addresses even had the home listed on the PVA record as attached. The deal fell through in this situation. The bank wouldn't lend to the buyer and the investor was stuck with a property they can only sell to a cash buyer.

@Bruce Lynn ill try that thanks

I am looking to become an appraiser in Kentucky. I have taken the classwork but I need to find someone to work under. I've made a few calls to different firms but no one is taking on trainees at this time. Does anyone have any tips on how I can find an appraiser willing to take on a trainee?

I'll have to work but if things change between now and then I'll be there.

I am considering putting a house to put on Airbnb. I've gone on the site and there are other properties in my area on there, but I'm wondering if there is a way to see exactly how much traffic my area gets? We have a few tourist attractions but not sure if the draw would be worth it. Does anyone know a way I can see before I try hosting a house on Airbnb?

that's one thing to be sure of before the brrrr, is that you can refi. I think lima one capital offer loans without looking at DTI, but I'm not completely sure about that. I would try to find a lender who doesn't.

If not you might have to sell it as a flip instead of keep it as a rental. 

Or a better option could be to find a partner who could get a mortgage in their name for you.

looks good. Are you depending on it being sold in 2 months or are you okay if it sits longer?