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Is this roof bad.

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USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
I did an FHA on this and said the roof was bad and needed replacement. The listing agent, mortgage broker, unlicensed contractor and another licensed contractor all said it was OK. Neither contractor walked the roof (I did). The roof was very soft and will also need new plywood.

I refused to change my appraisal. This FHA sale closed anyway.
 
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deturner

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Apr 2, 2003
Professional Status
Certified Residential Appraiser
State
Kansas
That's just absolutely crazy.

How is it that this stuff is making it as FHA? It's apparent that there is not a 2 year life left on this roof.

DaveT in NC
 

Couch Potato

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Professional Status
Certified Residential Appraiser
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North Carolina
It is badly worn, and will certainly need replacement soon; however, if it is not leaking it can pass current FHA requirements. You are certainly right to point out the problem, but it is up to the underwriter to require replacement. With similar roofs I've seen it go both ways. Only with evidence of leaking should an appraiser call for replacement is what I was instructed by FHA.
 

Metamorphic

Senior Member
Joined
Mar 15, 2008
Professional Status
Certified Residential Appraiser
State
California
I'd say "The composite roofing is in poor condition with many cracked and broken shingles; the roof is clearly at or very near the end of its serviceable life. Although no direct evidence of leaking was observed, the observed condition of the roof suggests the roof's ability to protect the underlying structure from water damage is minimal."
 

Smokey Bear

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Dec 8, 2004
Professional Status
Certified Residential Appraiser
State
California
If it wasn't leaking yet, it probably will now that someone's walked on it. :)
 

Mountain Man

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Georgia
Wow... a licensed contractor signed off on it? Skippy's everywhere! m2:
 

Couch Potato

Elite Member
Joined
Mar 15, 2004
Professional Status
Certified Residential Appraiser
State
North Carolina
I'd say "The composite roofing is in poor condition with many cracked and broken shingles; the roof is clearly at or very near the end of its serviceable life. Although no direct evidence of leaking was observed, the observed condition of the roof suggests the roof's ability to protect the underlying structure from water damage is minimal."
Not necessarily. The picture clearly shows two layers of shingles. The lower layer could be in good condition, and the top layer merely done to change the color.
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
Your FHA guy better do some checking.


http://www.FHA-mortgageunderwriters.com/fha_appraisal_guidelines.htm


Further Details of FHA appraisal changes:

FHA appraisals occurring on or after January 1, 2006 now only require repairs for conditions that rise above cosmetic defects, minor defects, or normal wear and tear. Appraisers must report ALL deficiencies but lenders can use professional judgment and prudent underwriting practices to determine when a property's condition is a threat to safety or jeopardizes structural integrity.

This is a list of examples that no longer require automatic repair to existing properties, but are not limited to:

Missing handrails
Cracked or damaged exit doors that are otherwise operable
Cracked window glass
Defective paint surfaces in homes built after 1978
Minor plumbing leaks such as faucets
Worn or soiled floor coverings or finish
Rotten or worn out counter tops
Damaged plaster or sheet rock or other wall and ceiling material on homes constructed after 1978
Poor workmanship
Trip hazards such as sidewalks or badly installed carpet
Lack of all weather driveway surface


Examples of conditions that may be of risk to health and safety of occupants or soundness of property that continue to require automatic repair, but are not limited to:

Inadequate access/egress from bedrooms to exterior of home

Leaking or worn out roofs

Structural problems such as foundation damage caused by settlement
Defective paint surfaces in homes built before 1978
Defective exterior paint on homes built after 1978 where finish is unprotected

In this case, the exterminator and the "contractor" are the primary service providers fro the real estate broker on all his rental properties as well as repairs needed on listings and sales at his large C/B agency.


Those guys would swear the Grand Canyon was a minor home to stay in his good graces.


I walked the roof, I saw the roof. The roof is worn out, the plywood is soft and the roof needs replacement.

This is exactly what FHA is NOT intended for. The intent of FHA was and is to allow people to buy homes that will not need a bunch of repairs fro the first few years. The typical FHA borrower has limited funds and may not be able to handle extensive repairs in the first few rears of the loan.
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
http://www.HUD.gov/offices/hsg/sfh/ref/sfhp1-24.cfm


Roofs & Attics

Information by State
Print version




Chapter 1
Appraisal & Property Requirements
Page 1-24

1: Roofs: The covering must prevent moisture from entering and provide reasonable future utility, durability and economy of maintenance. The appraiser must visually examine the roof to determine whether deficiencies present a health and safety hazard or do not allow for reasonable future utility. (4905.1 REV-1, 2-12.)

Life Expectancy: The appraiser must exercise sound judgment when evaluating roof condition. The roof should have a remaining physical life of at least two years. If the roof has less than two years remaining life, then the appraiser must report this condition in the appraisal report.
 

USPAP Compliant

Thread Starter
Elite Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
North Carolina
That roof has ONE layer of shingles. Shingels overlap.....and I have roofed many a house in my younger days.

I can tell you with a high degree of certainty that this roof was put on in the Fall of 1989......right after Hurricane Hugo blew thru our town.
 
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