- May 27, 2008
- Professional Status
- Certified Residential Appraiser
I did an appraisal on a house with 2 upstairs bedrooms and no bathroom and stated this as a functional obsolescence. The loan officer just emailed me and informed me that "underwriter will not accept this loan as report says its a functional obsolescence. I realize that the home does not have a bathroom upstairs, but would that make the property functionally obsolescent". I am correct in stating that the lack of bathroom upstairs is considered a functional obsolescence, right? How should I respond to the loan officer?