Any Way To Avoid Required Reinspection For Co2 Detectors

[TD Morgan]

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]

She has to ask that question to her lender.

 

[TD Morgan]

She has to ask that question to her lender.

This requirement is at the lender's sole discretion?

 

[J Grant]

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]

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]

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]

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]

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]

I charge %40 of the original fee for a reinspection. $250 reinspection on that appraisal seems reasonable to me, cheap even.

 

[Terrel L. Shields]

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.