FORUM PROFILE

Final Inspection Fee

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • December 2, 2016 at 10:59 am EST #10229
    drodriguez
    Member

    We have a situation on a purchase where the appraisal came back and was “subject to installation of the AC/heat unit.” Since the originator knew there would be a fee increase for a final inspection, they re-disclosed the LE but increased the appraisal fee instead of adding an additional line item for final inspection fee. We just noticed this when we were preparing the CD. Am I correct in saying that we are out of tolerance since we did not disclose the “Final Inspection Fee” on the LE (like we would typically do) or can we consider this to be part of the Appraisal Fee?

    December 5, 2016 at 12:03 pm EST #10244
    rcooper
    Member

    If fee was disclosed separately as an inspection fee I agree with your assessment. It is too late to issue a revised LE reflecting the fee, but you would be able to show the revised fee on the CD.

  • Author
    Posts
Viewing 2 posts - 1 through 2 (of 2 total)
  • You must be logged in to reply to this topic.