Fire Damage to Subject

[athome77]

Appraised property (fee simple townhouse) in may for sale closing 07/08. Client called today to request re-inspection. There was a fire last week in a home attached to the subject. Listing agent indicates no fire damage to subject but some shingles and siding had to be replaced due to heat/water damage and fire dept. broke down door to gain entry (unit was vacant at time of fire). Listing Agent claims all repairs completed by licensed contracors hired by current owner's insurance company (good thing she kept up that premium so close to selling).

Lender condition states:
Appraiser to re-inspect property due to fire. Appraiser must list all items that require repair and evidence of these repairs by licensed contractors is required.

Seems straight forward enough. Not planning to use 1004D or HUD form, just addendum page.

Have seen others on here have performed similar assignments in areas that were impacted by weather, wild fires, etc, just looking for advice any may have to be sure all bases are covered.

Thanks in advance for the help.

 

[Mike Kennedy]

" Listing Agent claims all repairs completed by licensed contracors hired by current owner's insurance company (good thing she kept up that premium so close to selling)."


Dear Client:

Client to obtain, and forward to Appraiser, list of required repairs reported by Listing Agent prior to scheduling supplemental Site Observation.

Thank you.

 

[timd354]

Tell them to hire a home inspector.......you appraised the property, your job is done. You are not a licensed home inspector are you?

 

[Mountain Man]

"evidence of these repairs by licensed contractors is required."

That is the only part that bothers me. I'll gladly do an inspection and tell them if the property is marketable. But how in the world will I know (verify) that a licensed contractor did the repairs?

 

[CANative]

Just tell them you don't want to.

 

[c w d]

Wait, wait.....something is coming through the haze.....yes....I see it now. I see......a new assignment........a home inspector and an engineering certification too.:new_smile-l:

 

[Farm Gal]

Dear Client -

At your request I viewed the property at 123 Abc St. As of the date of the re-inspection, there was/was not any visible evidence of the fire which reportedly occurred on (enter date). All repairs had/had not been made. further repairs needed are:____ Estimated total cost to cure is $___.

I did make inquiry of the agent regarding your concern of licensed repair personnel. S/he did/did not provide me with documentation indicating that the individual(s) performing the alleged repairs were licensed, s/he stated-- whatever s/he says.

As an appraiser I can report the visible conditions observed, and form an opinion of the effect of a property condition on marketability. I cannot certify the license standards of other trades or professions.

It is beyond the normal scope of an appraisers work product to perform additional research. If you desire additional information I would be happy to do the best I can - please be advised that my hourly rate for non-appraisal work is $$$, and must be secured with a retainer.


Fee for services to date (include an hourly for the phone calls ) is $$

Thank you for your business!