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peeling paint repair

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Susie Seibert

Thread Starter
Junior Member
Joined
Mar 22, 2005
Professional Status
Certified Residential Appraiser
State
Michigan
I did an appraisal on a pre-1978 place that had peeling paint all over the place and conditioned the report on the paint being repaired. I just got a note from the loan officer stating that they are going to scrape the peeling paint this weekend and will I come out and re-inspect. Repair doesn't mean just scraping the peeling paint does it? It has to be re-painted as well, right?

Thanks.
 

incognito

Senior Member
Joined
Jul 14, 2005
Professional Status
Certified General Appraiser
State
Florida
From MORTGAGEE LETTER 2005-ML-48


"Examples of property conditions that may represent a risk to the health and safety of the occupants or the soundness of the property for which FHA will continue to require automatic repair for existing properties include, but are not limited to:

*Defective exterior paint surfaces in home constructed post-1978 where the finish is otherwise unprotected.
* Defective paint surfaces in homes constructed pre-1978

Examples of minor property conditions that no longer require automatic repair for existing properties include, but are not limited to:

* Defective paint surfaces in homes constructed post 1978."

You be the judge...

However. I place the burden on the lender:

"Lenders must review the appraisal to determine whether the appraiser has reported any property conditions that will affect the health and safety of the occupants or the security and the soundness of the property and must require immediate repair where the property condition poses a threat to these criteria."

You report it, and let them make the decision!
 
Last edited:
Joined
Aug 16, 2007
Professional Status
Licensed Appraiser
State
Virginia
I JUST had same issue, cept broker called and said, FHA does not care about peeling paint anymore.. HARDY HAR HAR... I write FHA and blow some steam about broker pressure and this is their answer copied and pasted. Note. they say nothing about scraping or repainting it, just describing exactly where it is.

Customer Inquiry -Where can I find appraisal procedures for properties with defective paint?
Resolution -
Appraisal procedures for defective paint are in the referenced Mortgagee Letter and Handbooks. For any home built prior to 1978, the appraiser must check for evidence of defective paint surfaces, i.e. peeling, scaling or chipping paint. The appraiser must inspect all interior and exterior surfaces of all buildings on the property (for the exterior of a condominium unit, inspect only the exterior surfaces of that unit). For all FHA insured properties, correction is required to all defective paint surfaces in or on structures and/or property improvements built before January 1, 1978 in accordance with 24 CFR Part 35. The appraiser is to provide a detailed description and identify the exact location of any deficient paint surfaces under 'physical deficiencies' affecting livability on
the appraisal report.
DISCLAIMER: All policy information contained in this knowledge base article is based upon the referenced HUD policy document. Any lending or insuring decisions should adhere to the specific information contained in that underlying policy document.

For further assistance please contact the FHA Resource Center at [email protected] or by calling 1-800-225-5342 (1-800-CALL-FHA).
 
Last edited:

Susie Seibert

Thread Starter
Junior Member
Joined
Mar 22, 2005
Professional Status
Certified Residential Appraiser
State
Michigan
thanks you guys...i found the same thing and tried to figure out what 24 CFR Part 35 was...does anyone know? i'm going to send an email to see if i can get further explanation.
 

Susie Seibert

Thread Starter
Junior Member
Joined
Mar 22, 2005
Professional Status
Certified Residential Appraiser
State
Michigan
Mr. Rex,

Thanks for the link...it was so corn-fusing I called HUD and they put me in touch w/Mr. Charles Newman in Philadelphia who said the remedy included scraping and re-paint. He said escrowing the funds til spring for the paint job was ok but that the report would remain per repairs until the paint job was complete. Thanks for your help everyone.
 

timd354

Elite Member
Joined
Jan 11, 2008
Professional Status
Certified Residential Appraiser
State
Maryland
thanks you guys...i found the same thing and tried to figure out what 24 CFR Part 35 was...does anyone know? i'm going to send an email to see if i can get further explanation.

24 CFR Part 35
Stands for section 24 Code of Federal Regulations Part 35....you can find the Code of Federal Regulations in a law library or an online legal database.
 
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