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Hideous paint job

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Lobo Fan

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Nov 28, 2004
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Certified Residential Appraiser
State
New Mexico
I looked at a REO that had some of the ugliest internal paint I have ever seen. It would take 3-4 coats of primer to cover up some of this stuff. I know we are supposed to overlook this sort of thing, but this was just nasty.

At what point would you recommend a repair for ghastly paint?
 

Hamlet

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Aug 14, 2006
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Certified Residential Appraiser
State
Ohio
Got pix? Was the paint peeling? How old is the subject? If it is just ugly paint, I'd only market condition for it, not require repair.
 

Michigan CG

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Nov 1, 2006
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Michigan
According to the Marshall and Swift 2008 Home Repair and Remodel Guide the cost to paint is:

Small room (48-80 SF): $275
Medium Room (81-144 SF): $360
Large room (145-200 SF): $435
X-large room 201-275 SF: $485
 

Workbox

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Mar 2, 2005
Professional Status
Certified Residential Appraiser
State
Colorado
Any Pix? We just have to see.
 

Mztk1

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Dec 3, 2006
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Certified Residential Appraiser
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Florida
I didn't know we were supposed to overlook owner-specific paint, let alone when doing an REO. I know it is a rare market that overlooks it. If the house is vacant, the cost should not be too much above a normal paint job. Just get in there and spray the crud out of the interior.
 

Lobo Fan

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Nov 28, 2004
Professional Status
Certified Residential Appraiser
State
New Mexico
I have lots of pictures, just too big to upload. I don't have the software to fix it.
 

Mary Tiernan

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Dec 16, 2003
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Retired Appraiser
State
Michigan
Wow - in my neck of the woods you could get a 6 man crew for that price.
 

Mountain Man

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Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
Dang... a small 48 SF room at $5.73/SF!!?? I generally get painting quotes from $2.25 to $2.50 per SF. I need to start a painters AMC. :)
 

Dan/Fla

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Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Florida
When I do REO inspections, if in my opinion the interior / exterior color is not conducive to most buyers I recommend repainting and cost of, including priming first if needed. Never had this kicked back.
 

Joe Booth

Junior Member
Joined
Oct 16, 2003
Professional Status
Certified Residential Appraiser
State
California
Oil based primer will cover most anything in one coat. Even 30 years of nicotine on wood panelling.

$5.73/sf is very high. $11,500 for a 2000sf home? I don't think that is right.
 
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