Estimating Cost of Repairs?

[Tom D]

Just curios, if you subject to a smoke detector on FHA, you give a cost to cure.

On new construction I can see a cost escrow to do the seeding or diveway top after winter, but i have no lender who will escrow for after settlement on a normal sale. The cost seems irrelavant if it gotta be done by seller before settlement. The hardest cost i see is fixing a basement water problem, the how and what to do.
But, dem is my clients.

 

[alebrewer]

Just curios, if you subject to a smoke detector on FHA, you give a cost to cure.

On new construction I can see a cost escrow to do the seeding or diveway top after winter, but i have no lender who will escrow for after settlement on a normal sale. The cost seems irrelavant if it gotta be done by seller before settlement. The hardest cost i see is fixing a basement water problem, the how and what to do.
But, dem is my clients.

I shared the reg. What you do is up to you, man.

 

[Tom D]

Good answer man, it's always a business decision. Was just wandering if yous cost the minutia. I might start doing that if you all did that.

But i do appreciate you sharing the reg.

 

[jay trotta]

Just curios, if you subject to a smoke detector on FHA, you give a cost to cure.

On new construction I can see a cost escrow to do the seeding or diveway top after winter, but i have no lender who will escrow for after settlement on a normal sale. The cost seems irrelavant if it gotta be done by seller before settlement. The hardest cost i see is fixing a basement water problem, the how and what to do.
But, dem is my clients.

No, C2C it most definitely not, it is a return trip & photo as required.

 

[Terrel L. Shields]

Just curios, if you subject to a smoke detector on FHA, you give a cost to cure.

$15 bucks?

 

[Tom D]

$15 bucks?

I don't think you would spend your valuable time typing that in. However, todays smoke detectors are a combination of smoke & co. Since you should know that price, take a ride down to home depot.

 

[David S]

Buy a book...not M & S unless you want to pay for the Dodge book...
National Building Cost Books are cheap relative to M & S.

The best for estimating repairs is the insurance book - $100. You might even find it cheaper on Amazon. This is for repairs and are more accurate. Even if not "accurate" it is SUPPORT and that is what USPAP requires. SUPPORT your adjustments. Order direct from Craftsman books or Amazon.

View attachment 89916

Buy a book...not M & S unless you want to pay for the Dodge book...
National Building Cost Books are cheap relative to M & S.

The best for estimating repairs is the insurance book - $100. You might even find it cheaper on Amazon. This is for repairs and are more accurate. Even if not "accurate" it is SUPPORT and that is what USPAP requires. SUPPORT your adjustments. Order direct from Craftsman books or Amazon.

View attachment 89916

Good idea!

 

[Zoe]

Smoke detector would be required on MPS on FHA. No need to estimate cost to replace.

Put the damn smoke detector in.

 

[Zoe]

If you are going on liquidation, it could be considered but cost of smoke detector is irrelevant when you are talking about thousands of dollars.

Sometimes the local authorities will give them away if you don't have one.

I think if you just walked in any day of week and needed one, the local fire department would give you one.

 

[Terrel L. Shields]

Since you should know that price, take a ride down to home depot.

CO not required in my area, and unnecessary since I am all electric. But I just bought a smoke detector, and it was about $11. Again, you are going to deduct that from the MV?