- Jul 29, 2008
- Professional Status
- Certified Residential Appraiser
Hello everybody.. I performed an inspection on an REO yesterday and found the property to be in overall average shape, on the inside nothing needed repairs however on the exterior there was evidence that a blue tarp had just been removed and the tile roof was missing a good portion of its tile. The buyer has explained to me that she will completely replace the new roof on the property as soon as she closes ....BUT this order was sent to me as an FHA... My question is do I make the report "subject to roof inspection and repairs" or do I make it "as-is" and give it an adjustment for its cost to cure (approx 25K). The property is a nice neighborhood in Coral Springs, FL where the median home sells in the $260k range and recent comps are as high as $325k. Contract price is $188k with a pool.. Thanks for your insight..