How Many Repairs Makes A Report "subject To"

[Rich Hahn]

here are a few excerpts from rebuttal
keep in mind the materials maybe in the garage.(probally returned to lower credit card balance)

"since most of the items installed and to be installed on the house are new, by defintion the home is in good condition."
good to a homeless person I suppose.

"Homeowners were laid off and couldn't afford to finish remodel...."
wait a minute appraiser first said it was the weather and all the stuff is bought, paid for and in garage so if he is laid off I assume he is not working and has the time to work on the house?!!!

"Its a bad review mentioning when the permits were pulled because its not the appraisers concern how long it takes to finish a remodel".
2 and 1/2 years to do 600sf and they are not currently trying to finish it?sounds fishy to me.



bottom line house is not finished and reader is being mislead!

I just love my job
Beuty is in the eye of the beholder...

Rich

 

[CANative]

It's been my experience that market reaction to unfinished improvements is much more severe than "less than average condition," or damage or deferred maintenance. I've seen many a listing that's languished on the market because the home or a portion thereof is not finished.

That appraisal was very misleading, IMO. That rebuttal was pretty weak.

 

[Karl]

Again those 2 words COMMON SENSE. Many houses for sale in an area the one needing work is going to be set aside by MOST Buyers. Usually due to a WIFE having much to say about the purchase. Y would a AVERAGE TYPICAL Buyer buy a home with needed repairs when there are several without needed repairs for 10 to 20000 more with TODAY's Mortgage Brokers AMAZING Calculators. & the simplicity of "If U can't make the payments just walk away" It's not YOUR FAULT.

 

[Verne Hebert]

Haven't read the responses.

Well, if it is a FNMA compliant appraisal report; which it appears to be.

Then it is subject to anything necessary to make it FNMA compliant (in english--safe, sound, and habitable)--to include positive drainage or some remedy thereof.