Hogpal
Freshman Member
- Joined
- Jun 4, 2008
- Professional Status
- Certified Residential Appraiser
- State
- California
Recently completed inspection of a home with inadequate heat - gas fireplace in living room the only source of heat for a 3br/2ba home of apprx 1600 SF.
I consulted with the client prior to completing the report and the order has been placed on hold while the lender is consulted.
Should I have completed the report and described what I found without giving the client an opportunity to change/cancel the order? On the few prior occasions I've encountered this situation the client has cancelled the order - with a small cancellation fee - and not approved the loan. On one occasion the lender wanted to go forward with a cost-to-cure functional utility adjustment for the cost of adequate heat.
I consulted with the client prior to completing the report and the order has been placed on hold while the lender is consulted.
Should I have completed the report and described what I found without giving the client an opportunity to change/cancel the order? On the few prior occasions I've encountered this situation the client has cancelled the order - with a small cancellation fee - and not approved the loan. On one occasion the lender wanted to go forward with a cost-to-cure functional utility adjustment for the cost of adequate heat.