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Any Way To Avoid Required Reinspection For Co2 Detectors

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TD Morgan

Thread Starter
Junior Member
Joined
Apr 18, 2011
Professional Status
Certified General Appraiser
State
Oregon
A friend is refinancing. She got everything taken care of, but the lender wants to have the appraiser revisit to ensure the CO2 detectors are installed (Oregon).

Is there any alternative to her having to pay another $250 for such?

Is there a chance that the underwriters will take receipts and photos of the installation, in lieu of such?

Any input is appreciated!
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
She has to ask that question to her lender.
 

J Grant

Elite Member
Joined
Dec 9, 2003
Professional Status
Certified Residential Appraiser
State
Florida
This requirement is at the lender's sole discretion?
I would assume so, since they are the ones that have to approve the loan. If they insist the appraiser go back she will have no choice, though a $250 return to inspect fee seems high
 

ucbruin

Elite Member
Joined
Mar 11, 2014
Professional Status
Certified Residential Appraiser
State
Massachusetts
I would assume so, since they are the ones that have to approve the loan. If they insist the appraiser go back she will have no choice, though a $250 return to inspect fee seems high
"...$250 return to inspect fee seems high"


I can't believe you of all people would write that....

I'm serious....


@TD Morgan
Sorry if I hijacked your thread....
 

TD Morgan

Thread Starter
Junior Member
Joined
Apr 18, 2011
Professional Status
Certified General Appraiser
State
Oregon
I would assume so, since they are the ones that have to approve the loan. If they insist the appraiser go back she will have no choice, though a $250 return to inspect fee seems high
It did seem high to me, given the actual time. I would think an hourly rate should apply. My friend paid $750 for the appraisal, which seems like highway robbery, but I guess there must be a shortage for the current real estate market.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
visit to ensure the CO2 detectors are installed (Oregon).
I doubt there is a CO2 detector in the house...maybe a house plant. If it dies, then there is no CO2. How about a CO detector? Carbon Monoxide... And yes, the appraiser will likely have to revisit and if they did not note it, then the appraiser should be liable for the oversight not the borrower. File a complaint against them to the board... They need to know their job and that includes identifying such things as CO detectors.
 

TD Morgan

Thread Starter
Junior Member
Joined
Apr 18, 2011
Professional Status
Certified General Appraiser
State
Oregon
I doubt there is a CO2 detector in the house...maybe a house plant. If it dies, then there is no CO2. How about a CO detector? Carbon Monoxide... And yes, the appraiser will likely have to revisit and if they did not note it, then the appraiser should be liable for the oversight not the borrower. File a complaint against them to the board... They need to know their job and that includes identifying such things as CO detectors.
Whoops! Thanks for catching that. I typed it without thinking...
 

Tom Woolford

Elite Member
Gold Supporting Member
Joined
Nov 20, 2005
Professional Status
Certified Residential Appraiser
State
Florida
I charge %40 of the original fee for a reinspection. $250 reinspection on that appraisal seems reasonable to me, cheap even.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I charge %40 of the original fee for a reinspection. $250 reinspection on that appraisal seems reasonable to me, cheap even.
In a state requiring a CO detector, wouldn't the appraiser be expected to state one exists?...or photo it? And if the original engagement letter did not specify a picture, then the fault lies with the lender, not borrower. The borrowers should not be responsible for the mistake of the client/ appraiser. As for charges, I have an hourly rate, and unless driving time is high, a pix ought to take about 10 minutes plus drive time. Anywhere within 30 minutes drive, I'd be loathe to charge more than 2 hours fee.
 
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