203k: When You Require a Survey....

...As we all know, HUD Consultants are required to identify all Architectural Exhibits. (HUDSpeak for anything augmenting your Work Writeup) My question to you is "how many of you can read it"?..Do you know what you're looking for? ...and since renovation lenders don't require one,?who's responsible if there's a problem downstream? Do you know what a PIN number is? What if a property has more than one PIN number? Can you request a copy of the Tax Bill?..Flood Zone certification?

I'm assuming you're not an Engineer, Surveyor or Attorney and since most consultants have marginal construction experience?or formal construction education if any, who is it that actually interprets and responsible?for any of the documents mentioned? What if any of those items prohibit the project from actually closing, being completed, or even started after the closing?

Not unlike Home Inspectors, our responsibility is to?"identify"?questionable conditions and request?further evaluation. Such findings as they may appear, are presented to?Underwriters?and?Appraisers?for review, further enumeration, approval or rejection. It's been my experience that lenders ask HUD Consultants for their approval, which isn't theirs to give in many instances. Of course the consultant could always require?professional services?to interpret such findings for the lender..but who wants to pay for that?

Would you accept a legal opinion from someone who wasn't an Attorney?..Medical diagnosis from someone who wasn't a Doctor? Then why defer?to?the HUD Consultant on such matters and accept his opinion?? Lenders: Remember, you can delegate?authority but not responsibility.

Never ever purchase a Property without a Survey...And don't depend on your lender for anything other than the loan itself. It's best to submit your Survey, Home Inspection and HUD Consultant report to your Attorney for review. Of course this will more than likely add to your closing timeline...too bad. Don't be pressured to forgo reasonable due diligence.