Underwriter question: re farmland on subject property

Tips and Deals Forums Home Mortgage Underwriter question: re farmland on subject property

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    My appraisal was completed yesterday on the home and 10 acres we are trying to purchase with an FHA loan.* The appraiser made note that part of the 10 acres was farmland.* The house was orginally on 80 acres.* The seller split off the house and 10 acres in 2009 while trying to sell it by owner.* Since he still owns all the land, he has all the tillable land rented out to a farmer who put it into corn this year.* The corn has been harvested.* My LO is awaiting the underwriter approval or conditions and is expecting to get a condition.* She thinks the UW will request the farmland be split from the parcel.* And then we will have the seller deed that to us seperately.*


    Can anyone chime in on this.* I am trying to guess at what might happen so I can prepare what might be needed.* I don’t think it is fair for them to request the land be split.* Since the land will be owned by someone new, there will not be farming continuing on the land that was farmed this year.* Why can’t the UW just take that at face value?* I know we sent over in our file the survey results from the seller which shows the house and 10 acres and the other 70 acres.* I think it is quite clear that the only reason it was all farmed was because the seller owned it all and that certainly won’t be the case once the house is sold.*


    Any guesses on what we can do or provide if the UW comes back with a condition?

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