CA RPA: Section 1 Termite Clearance, and Appraisal Contingency

[ZZGAMAZZ]

1) Discussing the theory of "Subject To" appraisal conditions with the Selling Agent of a current assignment. She asked me why the CA requirement for a seller to resolve Section 1 termite infestation isn't included as a "subject to" appraisal condition. My research reveals that it is NOT a mandatory state requirement although included so often that it is a de factor requirement "driven by lender requirements" per AI. But I wasn't able to answer the agent's question other than to tell her that the appraiser rarely sees results of a home inspection, and that investation isn't always readily observed. PEER COMMENTS?

2) Appraisal Contingency. RPA Item L(2), 8B. page 2....two checkboxes are available. What are the default implications if neither CB is checked? What if CB#1 is checked and a price described? How is the buyer's responsibility to pay the difference betwen an OV less than contract price affected? In other words, what does it mean that "The appraisal contingency has been removed??? PEER COMMENTS?

 

[glenn walker]

Check your blood sugar.

 

[Surf Cat]

Discussing the theory of "Subject To" appraisal conditions with the Selling Agent of a current assignment.

So much for confidentiality to the client...

 

[ZZGAMAZZ]

So much for confidentiality to the client...

It's frightening IMO that an appraiser would refuse to engage in a dialog about a commonality that affects both professions by hiding behind a shield of confidentiality to avoid communicating with a licensed practitioner--who wasnt my client, who wasnt the contact person, but who was familial with buyer motivation that IMO was critical bc of a huge variane between list price, offer, and COs.

 

[RCA]

I think appraisers should be home inspectors plus everything else. Rightly speaking, in my humble opinion the average time to a good through inspection, analysis of a home is 5-7 days, - and you will have to work your butt off for a large older home. You would have to charge 2.5K in California, minimum. That doing a full MARS/RCA appraisal, Chief Architect floor plans ANSI standard, good quality photos and home inspection.

 

[sputnam]

1) Discussing the theory of "Subject To" appraisal conditions with the Selling Agent of a current assignment. She asked me why the CA requirement for a seller to resolve Section 1 termite infestation isn't included as a "subject to" appraisal condition. My research reveals that it is NOT a mandatory state requirement although included so often that it is a de factor requirement "driven by lender requirements" per AI. But I wasn't able to answer the agent's question other than to tell her that the appraiser rarely sees results of a home inspection, and that investation isn't always readily observed. PEER COMMENTS?

2) Appraisal Contingency. RPA Item L(2), 8B. page 2....two checkboxes are available. What are the default implications if neither CB is checked? What if CB#1 is checked and a price described? How is the buyer's responsibility to pay the difference betwen an OV less than contract price affected? In other words, what does it mean that "The appraisal contingency has been removed??? PEER COMMENTS?

Dunno about CA. Here is it illegal for someone who isn't a licensed pest control operator/inspector to say that a property has a termite infestation... in any official manner.

 

[ZZGAMAZZ]

Dunno about CA. Here is it illegal for someone who isn't a licensed pest control operator/inspector to say that a property has a termite infestation... in any official manner.

If asked to do so the appraiser would reference results of a formal inspection by licensed professional but yea it's a deep rabbit tunnel...