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Condo-Exterior Repair

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rtubbs

Thread Starter
Junior Member
Joined
Jan 15, 2002
How do others in the forum handle needed repairs to the exterior of a condo unit?

I'm appraising a 2nd floor unit that has only a small area of deteriorated wood on the fascia above the entrance. This is something the HOA is responsible for but, do you call for repair?

I just today received a notification that the HUD Homeownership Center Reference Guide has a change relating to pest control. Buried in the document is the statement: :...If the unit is on the second floor or above, then a wood destroying pest inspection is not automatically required. However, if the appraiser detects evidence of possible dry rot or infestation by some wood destroying organism, the appraiser must call for the inspection report" (Seems to me that the inspection report would be addressing wood infestation.).

The next sentence reads: "In order to waive the repair requirements on a condominium a letter from the homeowners association listing the date of scheduled repairs, name of the contractor awarded the work, and acknowledgment that the funds necessary to pay for those repairs has already been budgeted and/or collected should be attached to the Homebuyer Summary with a copy retained in the case binder." (I would think that that is addressing repair requirement caused from wood infestation, but I may be wrong.)
 

Larry Lyke

Senior Member
Joined
Feb 2, 2002
Ron --

Just indicate the fact in your VC Sheets as a "Note: ___" and let it go at that. In the note indicate that it is a matter for the HOA. The HOA letter is obtained by the UW.

The "new" HUD infestation letter is just a refinement because somebody has too much time on their hands. Nothing has really changed.
 
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