4602.9: Appraisal requirements for Construction Conversion and Renovation Mortgages (03/02/16)
- Marsha Freeman
Owned by Marsha Freeman
© Freddie Mac Single-Family Seller Servicer Guide
The Seller must obtain an appraisal with an interior and exterior inspection that meets Freddie Mac requirements.
The Seller represents and warrants that the originating lender provided the appraiser with all the appraisal information required in Chapter 5601, including plans and specifications.
The appraiser's opinion of value must provide the "as completed" value.
The effective date of the appraisal must be prior to the Effective Date of Permanent Financing and the appraisal must meet the requirements of Chapter 5601, including Section 5601.8.