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Mold Comments

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sueinprescott

Sophomore Member
Joined
Feb 10, 2003
Professional Status
Licensed Appraiser
State
Arizona
Lender: Underwriter wants you to remove mold comments, you are not a mold expert and an appraiser just gives an opinion of value, why are you looking for mold? Agent: (to Appraiser) we washed the ceiling in the 3/4 bath and the mold was dirt, can you remove your comments? Appraiser: (this is where I want you guys to fill in the blanks) Also...fyi in the appraisers addendum included a mold disclaimer (standard on every form) and the words "appear" "possible dirt" and "unknown" darker material and not an expert etc. and a photo. :rolleyes:
 

Jeff Horton

Senior Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Alabama
Originally posted by sueinprescott@May 7 2003, 07:51 PM
Lender: Underwriter wants you to remove mold comments, you are not a mold expert and an appraiser just gives an opinion of value, why are you looking for mold?

Appraiser: Unless saying you will assume all my liability that statement stays. Your not an appraiser and why are you trying to tell me my job? So you do your job and I will do mine.
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
If you have re-inspected it.........
Appraiser previously noted some type of growth resembling mold or mildew on the ceiling. As per a phone conversation with the real estate sales agent, the ceiling was washed with an unknown chemical to remove the fun-guy. The appraiser recommends that a professional inspect the property to insure the problem has been correctly mediated, will not return, and the source of moisture has been corrected.

P.S. the underwriter can, at his/her will, ignor or remove this condition while assuming all liability. <_<
 

Lee SW IL

Member
Joined
Jan 15, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
don't call it mold, just describe it. B)

On the ceiling in the 3/4 bath, there are black spots. These spots were not observed at any other location.

Appraiser is not qualified to determine the source of the spots. :p

Personnally, I call em as I see em. ;)
 

Phil Rice

Member
Joined
Apr 22, 2002
Professional Status
Certified Residential Appraiser
State
Colorado
You have to keep in mind this question:

What is the typical buyer going to see, and what are they going to think, and how will this affect what they are willing to pay.

Is all well and good to say I see black spots and I am not qualified to say if it is mold or not. Is all well and good to put in a disclaimer.

IMHO, you cannot ignore this issue when you determine market value. If nothing else, it is a condition issue. And if you think it is $1,000 deferred maint to clean and repaint the bathroom ceiling, can you convince yourself that a typical buyer would look at it that way? Or would that typical buyer be thinking it would take a really big amount of $$$ (say $15,000-$30,000) to make it worth my while to mess with this, because there are plenty of homes around that don't have this kind of problem.

I am a firm believer that (almost) any home will sell if the price is right, and that is the appraiser's job -- to determine what that price is. You may not be a mold expert, but the typical buyer is also not a mold expert. Don't ignore the issue, disclose it and value it the same way a typical buyer would.
 
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