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Final Inspection By Appraiser Or Certification From The Roofer

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Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
We have 33,000 properties that were damaged in the July 28 severe hail storm in the Colorado Springs area. I'm running into a lot of cases where the roof is going to be replaced and I am making my appraisal "subject to repairs".

My question is...is it proper to say no re-inspection by the appraiser is necessary provided a new roof certification is provided to the lender from the roofer?

This could save the veteran buyer $100 and would relieve me of the responsibility of doing another inspection of the property. it really isn't cost effective for me to do an inspection for $100 in many cases...especially when I have to drive 25 or more miles.
 

Jim Bartley

Senior Member
Joined
Jan 20, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
I do that all the time..

"Subject to lender receipt of.....

If I am still asked to certify I always make a comment in the 1004d that MY certification is subject to the lenders receipt documenting repairs.
I don't have a problem certifying a broken window repair or paint, but if it involves a skilled/licensed trade I always make it subject to lenders receipt documenting repairs.
 

David Beasley

Senior Member
Joined
Dec 12, 2003
Professional Status
Certified Residential Appraiser
State
North Carolina
This could save the veteran buyer $100 and would relieve me of the responsibility of doing another inspection of the property. it really isn't cost effective for me to do an inspection for $100 in many cases...especially when I have to drive 25 or more miles.

Not only that, most lenders, and I really mean most (including USAA, WF, Citi, et al) are extremely slow paying of those final inspection fees. I close out each year with at least 10 VA finals I've hounded lenders on that I just have to give up on. Not that we had to schedule them in that day's work, actually drive to them from where we were going to be, and then put the time into typing up a final with photos when we get back...but what the hey, it's "only $100", right? lol
 

Mike Garrett RAA

Elite Member
Gold Supporting Member
Joined
Jan 14, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
Yep. Just got an email demanding I do a final RIGHT NOW or it will screw up their closing. Of course I'm going to drop everything and RUSH right out there just to earn $100 I might not even collect.
 

Restrain

Elite Member
Joined
Jan 22, 2002
Professional Status
Certified General Appraiser
State
Florida
It is going to depend on the lender. Wife had one where they were replacing the septic system. We did not call for it, arose out of the inspector's findings. Lender required her to do a final even though they were getting a receipt. She got the receipt from the agent and went out, saw where the soil was disturbed, took photo. It would have been just as easy for the lender to just accept the receipt, and just as valid since she was not on site for the replacement. No way she could say that the system had actually been replaced.
 
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