CPJ
Freshman Member
- Joined
- Apr 19, 2018
- Professional Status
- Licensed Appraiser
- State
- California
Can someone please remind me about cost to cure?
Subject recently bought and now refinancing as an "As is" appraisal for a conventional loan. It is obviously just prior to being fixed up with no flooring, carpets ripped up, exposed concrete subfloors everywhere. Baseboards removed. Several other deferred maintenance items such as holes in wall, cracked tiles, stucco repair, and rest are cosmetic. It is my opinion there are no health and safety concerns and nothing affecting the structural integrity and it can be lived in (Not sure anyone would want to). It is in C5 condition. (Here comes the stupid questions). Do I apply cost to cure for the deferred maintenance and rate it C4? or since there are other C5s to compare it to, just show deferred maintenance in pics, explain and leave it C5 with no cost to cure on the sales grid? Thanks for your time on this....
Subject recently bought and now refinancing as an "As is" appraisal for a conventional loan. It is obviously just prior to being fixed up with no flooring, carpets ripped up, exposed concrete subfloors everywhere. Baseboards removed. Several other deferred maintenance items such as holes in wall, cracked tiles, stucco repair, and rest are cosmetic. It is my opinion there are no health and safety concerns and nothing affecting the structural integrity and it can be lived in (Not sure anyone would want to). It is in C5 condition. (Here comes the stupid questions). Do I apply cost to cure for the deferred maintenance and rate it C4? or since there are other C5s to compare it to, just show deferred maintenance in pics, explain and leave it C5 with no cost to cure on the sales grid? Thanks for your time on this....
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