House with very slanted floors-repair question.

[CANative]

Nonsense to CB4 (using an EA that no correction is needed.)

looked fine at one end and slanted to the ground (or almost) at the other end

The soundness and structural integrity is in question and for conventional financing the deficiency must be corrected. C2C is not relevant... Check the required repair box using an HC that it has been completed.

If it's a lender question of C2C to help them and the borrower figure out if proceeding with the rerpair is worthwhile, then a contractor should figure out the cost, not the appraiser.

 

[VolcanoLvr]

Thank you Greg.....my fellow west coastie!

In reply to Renee's comment "Wait...Check box 4 does apply. Dave that is a misreading of the text. The appraised value is made "under the extraordinary assumption that the condition or deficiency does not require alteration or repair"."

An EA is a situation if found to be false could alter the appraiser's opinions/conclusions. It presumes as fact otherwise uncertain information about the PHYSICAL, etc. characteristics of the property.

In the situation that started this thread, the problem is obvious...i.e., the floors are out of level and probably need repair, as observed and reported by the appraiser.

You can't make a known physical problem go away by assuming it is corrected before it actually is. Therefore, CB4 is an incorrect application for this situation.

I have used CB4....most recently with a 'landlocked' dwelling with a driveway access across a separate parcel. I could not find any easement of record. Therefore I used CB4, and stated that proper access needed to be determined by the lender. They ultimately found the proper easement document in the title search, and I submitted an amendment to the report so stating that situation. That's one example how the EA applies.

To the other writer who presumed that 'I ain't never been in a hundur'd year old shack'....not true. In fact, just this past week I inspected a dwelling first constructed in the 1860's (yes, we have a few of 'em out here in the wild northwest!) We have quite a few 100+ year old homes in this area, some in terrible condition and others impressively restored and maintained.

Dave

 

[Debra]

Well, I suprised, but, I got a call yesterday saying that they want the appraisal completed Subject ot structural/licensed engineer. I didn't think they'd want it complete. Now, I'm working on it again. So, after reading all the posts and reading the URAR over and over and over. I'm thinking that this is a CB4? There are also other repairs that need to be made in addition to floors. So, I'm thinking CB4 for the floors and then adjust with a CtCure on the condition line of the URAR and make lots of comments. Also, I need to check YES on the URAR, page 1 for the next to last question and comment. Am I warm on how to complete this report???

 

[Mike Boyd]

I take it you have never been in a house over 100 years old??? We call it character.

Or, a house built specifically for those who cheat at marbles.