Help a Poor LO Before She Kills Her Appraiser

[Farm Gal]

Cathy:
It would be most appriaserrs opinion that this SHOULD be mentioned directly tot the lender, in writing in the report, adn might specifically affect teh sale of the home, depending on the market. Sicne I don't know that market, I cannot comment on that last.

However sa mentioed by a previous poster, that sort of installation (non-egress) is SPECIFICALLY prhobitted in nearly every jurisdiction with any sort of building code, and such bars are required to be modified or removed as soon as civil authorities are aware of them.

Check with the folks at your local fire department to hear THIER opinion. but take ear plugs to tone down teh volume.

And the appraiser may well have said something to the effect of "IF the local building department", or "IF I turned this in to..."

That kids game of telephone runs true to form, the home owner was pretty upset by the information recieved and may not have heard what the appraiser really said! On the other hand, IF the appraiser 'really said' that she was "turning them in" she needs some educating... On the other, other hand: if I as an appraiser saw such an installtion I also would notify the homeowner as to the danger and strongly reccomend they remove/modify the bars. Usually such bars are removed at resale for the reasons indicated above. They are now patently Illegal most places, and unconsionable everywhere else. :evil:

Take three deep breaths and move on!

 

[xmrdfghap]

In my opinion, the appraiser's actions were entirely correct. Had they done anything different, including restricting those comments to you, the appraiser would be failing their responsibility both as an appraisers and more importantly, as a human being

George, what do you do about the responsibility to inform when the home is vacant? Or the people are simply not home? Do you chase down the owners to tell them? or do you only tell them if it is convienient because they are standing there?

I still believe the information belongs in the appraisal and it should be brought to the attention of the LO......not the owner/resident. Assuming (and I am making a gross assumption) the LO is a person of character and integrity, that LO will notify the UW and the owners/buyers of the problem.

 

[Tim The Enchanter]

Any person with half a brain should realize the danger of bars in bedrooms w/o releases. My take on this is to call it out in the report, bars w/o releases, safety hazard. And leave it up to the UW to require a fix. End of story.

I wonder how many people here also TEST the releases, or just look for them?

 

[Mike Garrett RAA]

For what it is worth, an underwriter friend of mine says "all properties must conform to local health and safety regulations regardless of what type of loan or who is buying the packaged mortgages." For that reason, they require any and all window security bars to be be openable from inside the room.

I have run into this on numerous cases for the VA and they say the same thing even though I can't find it in the hand book. Just suppose you override the appraiser on this one and later there is a fire and someone dies. What would be the liability for your company and YOU???

Use of the word NAZI is not very smart either...while RAT FINK might apply. Personally, it sounds like the home owner is telling tales to get back at the appraiser...either that or the appraiser isn't very smart. In any event, communication is needed here. Talk to the appraiser!

 

[Alan Simmons]

Cathy:

To me the real issue seems to be one of professional responsibility (his and yours).

First I have to say that I have always been wary of Appraisers suggesting remedies. Maybe someone can show me where the Appraiser’s license in and of itself gives an Appraiser the authority to specify solutions to undesirable or dangerous property conditions. (This is not to say I have not read some Appraisers that I thought more informed that the “experts”)

However, that having been said I do think it is very incumbent upon Appraisers to report to THEIR client any situation of concern, “mistaken” or not, PERIOD. Although I do not think it prudent for Appraisers to suggest remedies, I do think they have the responsibility to report ALL items of concern. An Appraiser’s job is to help people make informed intelligent decisions based upon their observations, not to make the subject safer, per se. (Although my hope is that it does!)

The fact is that the subject has bars on the windows. What does it matter if the Appraiser is “mistaken” about this being a “problem” or not. Those making decisions should be made aware of the situation; then they can make informed responsible determinations. If that means something must be done with the bars, so be it.

The truth is that you do NOT know if the Appraiser is mistaken. What if he is not? Therefore I think he was completely correct in reporting the situation. People should be aware of the situation. The problem is that this forces others to do their jobs. No one wants to be the one (for free) to say the bars do not represent any problems, and for some reason there is always an affinity for hiring specifically competent professionals. What if you do learn from your research that the bars do need a safety latch? What if your underwriter does require the bars to be fixed before they will approve the loan? You just may save a life, the loan be damned.

 

[Terry Russell]

This is my post on this topic. It was posted 2 hours after the original topic post.

Egress in a sleeping room:

Got to have it. In nearly all cases if a room is used for sleeping it must have direct means of egress to the outside of the house. And this egress must be accessible without any other appliance to aid in exiting. In other words, the windows have to be large enough and close enough to the floor so an individual may climb out easily.
These are not lenders guidelines, this is fire and building code. Any state that has adopted CABO Standards must enforce these codes. And it is one area that can not be "Grandfathered in".
I know the law is abused everywhere, but it is the law. If an appraiser includes a bedroom without these provisions, the appraiser and the appraisal are subject to deep scrutiny to say the least.

Terry


What I can not understand is, what is the debate here? Who tells who, and when and why?
If the appraiser wrote about the infraction into his report he did the right thing. The fact has been disclosed, the appraiser is covered.
The homeowner/seller will...does know, the LO knows, rhe realtor will know and then the buyer should know.
Any action directed towards sweeping this under the rug, could result in far more severe issue than worrying about who told who and when.

You do the right thing and stand by it.

There is no pleasing the fear that you may displease others.

Terry

 

[Richard Carlsen]

Sounds like the appraiser got a little carried away and a little chatty with the homeowner who probibly dogged her footsteps the entire time she was in the house.

If you can tell me how to do an inspection with a homeowner who wants to be right there and know everything I write down without offending them and putting your deal in jeopardy, please tell me. We walk a tight line with homeowners like that.

I think that the appraiser was just being too talkative and simply answered questions posed to her by the homeowner. If not, then I would suggest you tell her to refrain from disclosing the results of her findings to the homeowners in the future. You are the client. You set these rules. Tell her now. In the future she will be able to say no to the homeowner who asks for information about what she finds out. Be up front with her right now. Don't pussyfoot around about it. This is business.

 

[Bill_FL]

Cathy,

I dont know you personally, so I cant make judgement calls on your ethics. If I ever have a client tell me what to say about a home in a report, they become an ex-client.

Do you also tell your appraisers for what you want the home to appraise?

Should they mention the roof that needs replaced? There are a number of health and safety issues that appraisers should mention in the report. Yes, I have had some LO's say, "Dont mention that." about any number of things. Those are the ones I dont work with.

 

[Travis McGee]

Thats good discussion about what is required - FNMA/HUD/FHA etc. But what about the value issue. The home clearly does not comply with HUD standards without correction. My question is what if the owner tried to sell it the day after closing to an FHA Buyer?

 

[Farm Gal]

Jim:

Exactly what I said using far less words and with far better spelling !

(sorry folks - very fumblefingered this week)