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Does Ac Require To Repair On Conv Loan?

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Where did I say Appraisal needs to be made “Subject to”
You said (in answer to the OP's question) "it all depends..." I responded by your statement by saying that it does not depend and that it is never a requirement to make the appraisal subject to the repair of an AC unit for a conventional loan.
 
You said (in answer to the OP's question) "it all depends..." I responded by your statement by saying that it does not depend and that it is never a requirement to make the appraisal subject to the repair of an AC unit for a conventional loan.

If a purchase contract stipulates a working AC, conventional lenders might seek an appraisal that is subject to repair.
 
If a purchase contract stipulates a working AC, conventional lenders might seek an appraisal that is subject to repair.
Not the appraiser's job to enforce the contract. That being said, if a lender asked me to appraise the property subject to the repair of the A/C, I would have no problem doing that, especially since it would likely generate an easy $150 for a final inspection, however a working A/C unit is certainly not a GSE requirement.
 
You said (in answer to the OP's question) "it all depends..." I responded by your statement by saying that it does not depend and that it is never a requirement to make the appraisal subject to the repair of an AC unit for a conventional loan.
Well. Don’t know (or care) about what you would do but in my neck of the hot and humid woods I would certainly make some sort of adjustment for a worthless non functioning cooling system vs a working or new system. So yea...it all depends. Again, where did I specifically mention or allude to making anything “Subject to”
 
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In Palm Springs, a residence lacking AC would not be suitable for year-round use.

Fannie-

Property Requirements
The mortgaged premises must be

 
In Palm Springs, a residence lacking AC would not be suitable for year-round use

No houses in Palm Springs prior to availability of air conditioning? May not be what is customary in market. Maybe not comfortable. But do not think it rises to the level of not being suitable for year round use. No heat source in Minnesota. Yeah. Not suitable for year round use.
 
I would imagine that AC in the South is more important than AC in Minnesota. I live near Lake Michigan. Heck no one has AC on Lake Michigan. They run their fireplaces at night on Lake Michigan in July! So I don’t even adjust for AC on Lake Michigan if they have it. But if I were in the South it probably would be a pretty solid adjustment. Not sure what that would be, but I’d probably do an adjustment for the cost of putting it in!! I’ve been in Tampa Florida in May.
 
We would 1) state that the AC was not working, 2) adjust based on age of unit, up to and including replacement. Our clients require all equipment and utilities functional.
 
i guess functionally, the house doesn't have ca which would only be an adjustment on the comps having it.
 
My R-22 28 year old AC took 1½ lb. Freon at $95/#. But good for another 18 months or so...Cheaper than a new system, and two of my buddies are replacing 12 year old systems that quit entirely. Now some suggest fluorocarbons may not be the problem with that hole in the ozone...go figure.
 
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