1004D-What 'Extent of Completion' is Complete

[J Grant]

Do the planning / building departments in your municipality require a C of O (Certificate of Occupancy)? On a new build over my way.....that's the thumbs up. I have however, been shown a C of O by the builder and seen what you're describing. Empty bags of stucco, powder on the ground, saw horses, misc. tools strown about. I just take photos and explain and send it in. If the client wants to send me out again to show it's cleaned up, it's another 1004d.....more income for me.

Typically neither the 1004 D nor the appraisals s asking us about a C of O, they are just asking is it physically completed or not.

 

[glenn walker]

Typically neither the 1004 D nor the appraisals s asking us about a C of O, they are just asking is it physically completed or not.

Yeah I learned young as Realtor that what clean means to one person is not clean to another and I copied another Realtors term "Broom Clean" when I asked him he said he once got in a dispute with a new buyer who said the home was not clean enough and so he decided Broom Clean kinda of made it hard to dispute if it was clean enough. With my mother there was nothing ever clean or good enough- so where does it stop ? Broom Clean

 

[Airstream]

I would say more often than not it depends upon the lender. But I am not going to get overly picky. The other day I did a final, but the faucet in the basement bath wasn’t quite done. The plumber was there. It’s done. One has to be a little reasonable. How many homes do we appraise and there is a trim piece missing or something else not quite up to snuff.

 

[shrubberyvaluation]

I would say more often than not it depends upon the lender. But I am not going to get overly picky. The other day I did a final, but the faucet in the basement bath wasn’t quite done. The plumber was there. It’s done. One has to be a little reasonable. How many homes do we appraise and there is a trim piece missing or something else not quite up to snuff.

I wish the form would state this rather than taking the hard line if they want us to not be overly picky.

 

[Surf Cat]

Typically neither the 1004 D nor the appraisals s asking us about a C of O, they are just asking is it physically completed or not.

Whenever I've done a proposed construction job, for new construction as stated in the OP, I'd always state the appraisal has been made subject to plans and specifications of all construction being completed with permits AND a C of O Because I knew the city required it. That's my get out of jail free card.

If the C of O is not on file with the building department when I go back out for the 1004D, I make that statement. I can state it looks as if the construction is complete and done in a workman like manner BUT, without that C of O, even if it looks good, all bets are off. I don't care if the form doesn't ask for it. I don't know if the permits have all been paid for, finals have been signed off on and all the requirements have been met. My opinion of value is subject to everything being complete.

All these years of covering my tail doesn't seem to matter much anymore anyways with the PDCs coming in.