C4 Condition?

[RSW]

I've usually considered paint as a minor matter not rising to a C5 designation. Carpet, that's debatable. I Reserve C5 for major repairs and C4 for normal wear. Since carpet is a rapidly depreciable component and many buyers replace it first thing I'd mention it, adjust accordingly and move on.

I tend to agree. I don't call something a C5 unless there are several items that need to be repaired, or have not been updated for many, many years, but don't rise to a level of being a hazard or safety issue.

 

[Deleted member 134708]

@OP

You're in a real pickle thanks to the abysmal rating system. I wouldn't knock you for a C5 or C4.

Reality on realities terms. If you want future work from client going have change to C4. If 1 and done client just leave report C5.

If you want change to a C4. Just state you reconciled with peers about condition and after conversations changing to C4.

"Language is present both from the C4 category and C5. Due to the strict nature of the UAD system it is not possible to rate in-between. The appraiser acknowledges the subject can be considered a C4 or C5. The appraiser chose C4 due to missing flooring considered cosmetic and xxxxxxx. Subject estimated closer to a C4 than C5. Adjustments are made on a relative basis, so any homes falling in between a C4 and C5 would have been correctly identified and adjusted for regardless the absolute ratings scale."

If you want added commentary, go on to state your rating is 1 persons opinion, pictures are provided so as the client/reader can make their own conclusion of as-is condition rating for the lending process. The appraisal is only 1 data point in the lending process.....blah , blah

Good luck.

 

[Leon Marcus]

Why did you only post a portion of C5? The entire C5 references significant repairs. C 4 can have some deferred maintenance and needs limited repair.

It's not about pleasing a client/fudging a condition, its about most accurately assesing what the total of condition is ( including if the total is impacted by one specific area that may need major repair, if that is the case)

Because that section accurately described what I saw in the subject property
And yes, calming something like that average condition is just pleasing the client to get more work

 

[Tom D]

don't appraise in the inner city where that might be called a c3 by the neighbors. this picture is like a trick question by the state board. you're looking at their faces to see who smiles when you say maybe c4, maybe c5. guess it depends on the neighborhood, and what you are saying the comps conditions are. i won't say based on not seeing the kitchen or baths. also, depends on the overall value of the dwelling, and the cost to cure the decorating issue. the cost to cure might be a very small percentage based on the overall value. i'm going both on the condition, because i'm kinda of a bi-appraiser.

 

[J Grant]

The C rating of a subject is not supposed to be comparative to comps, nor in context of the neighborhood. Any value differences between comps or market acceptance per neighborhood is the adjustment portion. The C rating is not about adjustments for the rating or value of the rating, the condition rating itself reports what physically exists, what we observe.

When a condition is such that it is borderline, make your best call and explain why.

 

[devin]

I agree, when you think about it, it's only missing carpet, and paint, unless there's hidden things that we can't tell from your photo, that has to be realized by being on location, C5 if major damage and disfunctional utilities, holes in roof, holes in walls missing walls, major, etc, there are brand new homes without carpet, that's specially designed for the buyers custom preference. C4

 

[Tom D]

The C rating of a subject is not supposed to be comparative to comps, nor in context of the neighborhood.

possible, but your comps & subject should be consistent with your own c definitions conception, and we do have different opinions here about the same photo. guess that's why some appraisers have CU issues, that's all.
"The C rating of a subject is not supposed to be comparative to comps" i'm confused, you don't use similar c rated condition comps as the subject? did i read it wrong, or backwords?

so, you don't get c3 ghetto humor?

 

[glenn walker]

You could complete it C-4 Subject to repairs and flooring being installed . That may solve the C-5 issue because nobody can fund a C-5 or sell it to Fannie-Freddie. Sounds like the issues are not high cost repairs. I often do these as C-4 subject too . A real C-5 is more than cosmetic but if there are major issues then maybe it's a C-5 and dead on arrival : ) LOL

 

[RSW]

The C rating of a subject is not supposed to be comparative to comps, nor in context of the neighborhood. Any value differences between comps or market acceptance per neighborhood is the adjustment portion. The C rating is not about adjustments for the rating or value of the rating, the condition rating itself reports what physically exists, what we observe.

When a condition is such that it is borderline, make your best call and explain why.

I had a lender employee try to tell me condition ratings are geographical. What may be a C4 in TN may not be C4 in CA. I said it should be the same per Fannies definitions.

 

[residentialguy]

"The C rating of a subject is not supposed to be comparative to comps" i'm confused, you don't use similar c rated condition comps as the subject? did i read it wrong, or backwords?

What the comps are does not determine the condition of the subject. If you have a run down inner city neighborhood where all the comps are tattered and all have differed maintenance, that doesn't mean they are all in average c3 or c4 condition...that means they are all C5.