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Any Repairs? Any Repairs? Any Repairs? = Red Flag

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Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
If that question is asked by the Listing Realtor, then the Loan Officer, then the Processor, then the Selling Realtor, on a V.A. appraisal I've been assigned to, I'm convinced I overlooked some repairs that I should have noted! So, I go back, if the property is relatively close! Now, if I haven't been to the property yet and these people have all asked that question, I make sure I go through the house with an even finer tooth comb. Talk about a red flag!!! But, thanks for the clue!
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Charlotte,
Lately, I seem to be getting FHA request with an "AS IS" contract. I look in the MLS.... "needs some TLC" :roll:
Then I go about educating an agent. THAT makes 'em happy. :lol:
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
Charlotte,
Lately, I seem to be getting FHA request with an "AS IS" contract. I look in the MLS.... "needs some TLC" :roll:
Then I go about educating an agent. THAT makes 'em happy. :lol:

Yes, I've heard the response......But, you don't understand, the house is being sold 'as is'...... :roll:
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
:x FHA/VA don't want no stinkin "as is" houses. Whatsamattu?

Don Clark
On the highway of life, sometimes you're the windshield, sometimes you're the bug!
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
:x FHA/VA don't want no stinkin "as is" houses. Whatsamattu?

Don Clark
On the highway of life, sometimes you're the windshield, sometimes you're the bug!

:lol: :lol: :lol:
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Color me stupid... I usually call the listing agent from the property (if they ain't there with me) to give them a heads up on repairs. These agents and lenders are trying to close in as little as ten days now and if they wait for the report to find out about repairs its too late.
 

Richard Carlsen

Elite Member
Joined
Jan 15, 2002
Professional Status
Licensed Appraiser
State
Michigan
I'm with you Mike.

I always notify the listing and selling agent of any required repairs so they can get their little negotiation hats on right and figure out who will do what. Of course I tell the LO. Same thing applies to VA's and those RD's which, around here, are usually in worse shape than FHA's for some reason.
 

Charlotte Dixon

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Delaware
It's very rare that I call the Listing Agent telling them of repairs, because they call me before I get a chance to call them. They call before I even get to the property! In this day of EDI, they usually know within a short period of time after the report is sent to the lender, and they have it in black and white. Years ago I followed the practice of calling the LO with the list of repairs. It was my exprience that they tangled the info, left some repairs out that I mentioned, and generally screwed it up so when I got to the final inspection, some items weren't repaired. Never mind what repairs were written in the report, they only remembered what I told them verbally. I prefer to keep my distance and have them read for themselves what needs to be taken care of. Less confusion, and nowadays, it's quick, not like the old days of mailing reports and agents waiting with baited breath. Besides, calling and explaining to agents the list of repairs is just one more delay in completing other assignments, or delay in getting to the next property. Every minute and unnecessary phone call counts in this fast market.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
I had the same past experiences Charlotte. Now days, if it is a rush, I'll fill out the VC's and send it to the LO ASAP. Then they have it in writting and if they miss-understand, it is all on them.
 
B

Bemis Pownall

Guest
FHA Manual requires us to communicate with the lender and NOT the Realtur

:drinking:
 
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