ZZGAMAZZ
Elite Member
- Joined
- Jul 23, 2007
- Professional Status
- Certified Residential Appraiser
- State
- California
Fact: HUD considers LBP an issue significant enough that it will refuse to insure a loan until the potential H&S issue is remediated.
Question: How do appraisers describe chipped & peeling paint on improvements prior to 1978 for a conventional loan assignment? If this issue exists is it described as a potential H&S hazad?
Statement: An issue as salient as this should be fully addressed/described regardless of the type of loan. The only difference would be that the report for a conventional loan is not conditioned subject to remediation.
Question: How do appraisers describe chipped & peeling paint on improvements prior to 1978 for a conventional loan assignment? If this issue exists is it described as a potential H&S hazad?
Statement: An issue as salient as this should be fully addressed/described regardless of the type of loan. The only difference would be that the report for a conventional loan is not conditioned subject to remediation.
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