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"what I have to use that FHA appraisal?????  WHY???"   Well, here is the easy answer "you have to".  FHA requires that if an appraisal has been done on a property in the last 6mths, it must be used.  Your next question "how would FHA even know".  When you do a FHA loan it must go thru "FHA Connection", FHA's website and it knows everything like Big Brother.  Here are some things to keep in mind with this topic:

1. "I can't get the old mortgage company to give me the appraisal"- No Problem you have a couple options:

         - Contact the appraiser yourself, he should be more then happy to transfer it for you(you'll pay him).  The appraisal's info will be in FHA connection

         - Worse case you can just use the appraisal and FHA does not require it to be in the new lenders name. 

     2.On your Listings ask the FHA appraisal value on deals.  If your current offer falls thru and/or doesn't close you will need to know the FHA appraisal value for your future contract offers.

     3.If your buyer is buying a home that ended up not closing previously, you need to know the fha appraisal value.  You can do this 2 ways, ask the listing agent and hope they know.  Or as soon as the loan is ready and submitted to FHA connection your mortgage person can tell you if there is a previous appraisal  done. 

     4. Now in theory, if the appraiser has made some oversights or errors you can get fha to allow you to order a new one.  I have to be honest, you may have a better chance of seeing a unicorn.  This will be hard to prove and FHA is the government which means it can or will be a hard and long process if even possible.  Not to mention, your lender may not allow it.  Just my thoughts. 

I can't stress enough that in this market, its important to remember that an appraisal value is an opinion.  You may think the home is worth $200k and the appraiser may think it is worth $195k.  To make your life easier, prepare the buyer/seller of this possibility.  The above scenario is not a problem for conventional loans, since there are many banks and the appraisal is not recorded in a central system like FHA Connection.  Please call or email me with any questions.