Incurable Obsolescence?

[DARREN GODFREY]

Okay recently assigned a property for purchase...there are a bunch of of issues with the property. It is an FHA purchase by the way. The issues are:

1) Uneven concrete slab foundation- I don't know the history of the home MLS data is limited. It appears part of it may have been a garage or some kind of outbuilding previously. So in the improvemnents their are multiple areas of uneven flooring. I tried to attach some photos , but there are 5 inch deviations in floor height to 2 of the bedrooms and 1 bath , a 1-2 inch deviation leading from the kitchen and a 2'x2' area that deviates in the hallway, not as deep but bad enough they could not lay matching ceramic tile in this area. My concern is that this may be a safety hazard as well ...I can't imagine navigating through this home in a partially dark or emergency situation with out ending up sprawled across the floor. This is my main concern due to it being pretty near impossible to lay down another layer of concrete in an existing structure of this type without just starting over.

2) The improvements seem like a hodge podge of sections somehow connected with soffits and gutter built underneath each other.

3) It does not appear that the slope to the rear of the property would lead water away from the foundation.

4) Unusually shaped/sized bedrooms, the subject has 2 bedrooms that are about 7'x10 generally a the smallest bedrooms in this area are at least 10x10.

I just want some additional thoughts on how to proceed if at all.

 

[J Grant]

Sounds like Q5 construction quality low end house. Hopefully you can find poor quality similar crappy build comps. Unless it's a safety/health issue or built without any c of O/permits originally, just report the low quality, small bedrooms and uneven floors. I presume the price reflects the quality.

 

[DARREN GODFREY]

Sounds like Q5 construction quality low end house. Hopefully you can find poor quality similar crappy build comps. Unless it's a safety/health issue or built without any c of O/permits originally, just report the low quality, small bedrooms and uneven floors. I presume the price reflects the quality.

Yeah...thats gonna be a challenge due to realtors never putting any information like that on their listings....uggh.

 

[CANative]

Rambler added onto over the years without much thought.

I think there are products and techniques for leveling the floors (slab) out that might not be so expense as to make the condition "incurable."

 

[J Grant]

Yeah...thats gonna be a challenge due to realtors never putting any information like that on their listings....uggh.

Interview, them, online MLS photos, drive past comps. Can you tell from the street the subject is a POS? Poorly built/added on houses typically look as bad from the outside as they do inside. If this is on lower end of price range, similar low price comps
would have similar makeshift/C5 build ?

 

[EddieB]

If you consider the uneven slab to be a safety hazard, then start there. I would call the FHA field office. As far as the varying roof lines and grading concern, problems most likely would be evident in your inspection but could be reported.

These are Q rating points but I don't know if they rise to Q5.

 

[J Grant]

It is a Q5 or maybe even a Q6 if it's a bunch of mismatched structures cobbled togehter. How does what he described merit more than a Q5 rating? It is what it is, the lender can decide if they want to lend on it or not. Q5 sounds like lenders would lend on it, btw, it's just low quality but habitable

 

[EddieB]

Neither you nor I have seen this house, JG. But yet you're claiming a Q5 or Q6. Being the top poster each month doesn't equate to much else.

 

[J Grant]

1) Uneven concrete slab foundation- I don't know the history of the home MLS data is limited. It appears part of it may have been a garage or some kind of outbuilding previously. So in the improvemnents their are multiple areas of uneven flooring. I tried to attach some photos , but there are 5 inch deviations in floor height to 2 of the bedrooms and 1 bath , a 1-2 inch deviation leading from the kitchen and a 2'x2' area that deviates in the hallway, not as deep but bad enough they could not lay matching ceramic tile in this area. My concern is that this may be a safety hazard as well ...I can't imagine navigating through this home in a partially dark or emergency situation with out ending up sprawled across the floor. This is my main concern due to it being pretty near impossible to lay down another layer of concrete in an existing structure of this type without just starting over.

2) The improvements seem like a hodge podge of sections somehow connected with soffits and gutter built underneath each other.

The above from the OP. The lender and intended users such as FHA dont' see the house either. They rely on appraiser to accurately represent quality, through a reliance on description, photos and the Q rating. Read the Q ratings and see which one best applies.. None of us have seen the house, we are relying on the description. I bolded in red from his description where it matches on C6.. When assigning a Q rating we should chose which best fits holistically especially when it's a close call which rating to assign..

Q5 Dwellings with this quality rating feature economy of construction and basic functionality as main considerations. Such dwellings feature a plain design using readily available or basic floor plans featuring minimal fenestration and basic finishes with minimal exterior ornamentation and limited interior detail. These dwellings meet minimum building codes and are constructed with inexpensive, stock materials with limited refinements and upgrades.

Q6 Dwellings with this quality rating are of basic quality and lower cost; some may not be suitable for year-round occupancy. Such dwellings are often built with simple plans or without plans, often utilizing the lowest quality building materials. Such dwellings are often built or expanded by persons who are professionally unskilled or possess only minimal construction skills. Electrical, plumbing, and other mechanical systems and equipment may be minimal or non-existent. Older dwellings may feature one or more substandard or non-conforming additions to the original structure

 

[EddieB]

I expect FHA will rely on the OP to grade the home out. Not you or I.
Might be a Q5 or Q6 or not

That's all I ever said. You on the other hand...