Mile High Trout
Elite Member
- Joined
- Feb 13, 2008
- Professional Status
- Certified Residential Appraiser
- State
- Colorado
It's like this: If they've got the credit, and the lender is extending the loan, there are multitudes of approaches to credit and condition.
Curing dated is surely a simpler process than having to add on repairs because the buyers have seriously underestimated the necessary repairs.
If you could only have it only one way, more repair bidding is going to be erring on the side of caution. The buyers have already done that and if their credit is good and the loan is lined up, just perform a hypothetical 'as if' with an 'as is' and 'as if' valuation under 'normal marketing conditions'. 'As of' the expected date 'of completion' or both 'as of' 'date of assignment', depending on the depth of the project.
Curing dated is surely a simpler process than having to add on repairs because the buyers have seriously underestimated the necessary repairs.
If you could only have it only one way, more repair bidding is going to be erring on the side of caution. The buyers have already done that and if their credit is good and the loan is lined up, just perform a hypothetical 'as if' with an 'as is' and 'as if' valuation under 'normal marketing conditions'. 'As of' the expected date 'of completion' or both 'as of' 'date of assignment', depending on the depth of the project.