Interior disaster area inspection report CDAIR

[spittman]

I usually turn these down because they are for random properties, but today I finally got one for a property I actually appraised a month ago. I open the disaster report up in my software and see it's a pretty straight foward form - "any damage (yes/no); if yes explain". What I want to know is what do the lender's typically want if there is damage? Just comments on what I observed or do they expect an estimated cost to cure? The original appraisal I did was for FHA and I inspected it about two weeks before the snowstorm hit.

 

[Tim The Enchanter]

It's not in the SOW?

 

[spittman]

It's not in the SOW?

No. Only has blanket guidelines for appraisals. I just noticed now that it does not specifically say CDAIR. Only says disaster inspection so I should probably ask them specifically what they want.

Just wanted to know what others' experience were in cases where there was damage found. What is generally expected after? Cost to cure, appraisal update or new appraisal?

 

[lostinthezone]

This can vary based on the lender and possibly also investor requirements. I'd ask your client to be specific about what they need from you.

 

[Tim The Enchanter]

Yes on that. Hopefully it is moot and there is no damage.

 

[gogatah33]

When we had 3 hurricanes in 5 weeks in 2004 all the lenders were calling for re-inspects to certify there was "no damage as a result of the storms".

Ah, I don't think so. They insisted, so a group of us came up with some serious CYA disclaimers. Lenders can be very stupid sometimes. I ought to know, my ex-wife was one. Did I mention she is an EX-wife???

 

[Tim The Enchanter]

When we had 3 hurricanes in 5 weeks in 2004 all the lenders were calling for re-inspects to certify there was "no damage as a result of the storms".

I'd think this could vary a lot. Maybe some shingles blown off, maybe the whole roof, maybe it's wtf are we doing in Kansas, Dorothy?
We retired to Florida!

 

[spittman]

UPDATE: Finally clarified that they indeed want the 2 page CDAIR form after all, but now they are asking for it in XML. I did a test run and my software says it can't be converted to XML. I am using SFREP's current version of Appraise-it Classic.

Can anyone tell me if other softwares are able to convert the CDAIR to XML?

 

[Rlong]

Just tried in Alamode Total, "NO XML Form can be printed" (or something like that). I have had this debate (not an XML form) previously with a lender or two, can't remember if it was this form. I have done these a few times; in Colorado it has been Forest Fires (miles away) and localized flooding (miles away) so I did my drive by and said "nope, no damage". Never gotten one where the "disaster actually effected the home/property.