angdw
Freshman Member
- Joined
- Mar 9, 2007
- Professional Status
- Certified Residential Appraiser
- State
- North Carolina
I recently inspected a foreclosure property, which was Winterized and the water was turned off, due to a leaking toilet.
The seller is selling the property "as-is"; however, as an appraiser, I was not able to check the mechanical and plumbing systems and was told about the leak by the listing agent.
I completed the appraisal "subject-to" the repair of the leak and an inspection of the mechanical and plumbing systems.
The lender wants the appraisal "as-is", without any repairs or checking the mechanical and plumbing systems.
I don't think an As-Is appraisal is appropriate, given the fact that I could not fully inspect the property.
Any advice on handling this situation?
The seller is selling the property "as-is"; however, as an appraiser, I was not able to check the mechanical and plumbing systems and was told about the leak by the listing agent.
I completed the appraisal "subject-to" the repair of the leak and an inspection of the mechanical and plumbing systems.
The lender wants the appraisal "as-is", without any repairs or checking the mechanical and plumbing systems.
I don't think an As-Is appraisal is appropriate, given the fact that I could not fully inspect the property.
Any advice on handling this situation?