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Rated The Flooring Of The Subject Property As Fair

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DARREN GODFREY

Junior Member
Joined
Nov 15, 2006
Professional Status
Licensed Appraiser
State
Maryland
The subject property has engineered hardwood flooring that was obviously installed by someone who didn't know what the were doing ...1/2 to an inch gaps are clearly visible therefore along with missing flooring on the stairs I rated the flooring as fair and received this stipulation.

1) you have stated that the subject is in C3 condition yet have noted the flooring in fair-average condition the lender will not accept a rating of fair for the subject flooring.
a)f the flooring has 2 years economic life left please remove the fair and make the flooring rating average.
b)OR if the subject flooring does not have 2 years left or if there is a health and safety issue please mark average on the flooring condition, but make the report subject to any repairs that would bring the flooring to average condition


My issue is this...I have rated interior conditions as fair and this has no effect on whether the loans close or not previously.

Also I am trying to find more clarification from fannie/freddie guidelines.

What are your thoughts?
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
I am trying to find more clarification from fannie/freddie guidelines
You will not find any material clarification from fannie/freddie guidelines.

no effect on whether the loans close or not previously
Historical performance has no bearing on future issues. The lender in this case has made a reasonable request. What is the issue?
 

RSW

Elite Member
Joined
Feb 18, 2002
Professional Status
Certified Residential Appraiser
State
Tennessee
If the condition of the hardwood is average, but the quality of workmanship is fair, would not it be a quality issue?
 

DARREN GODFREY

Junior Member
Joined
Nov 15, 2006
Professional Status
Licensed Appraiser
State
Maryland
You will not find any material clarification from fannie/freddie guidelines.


Historical performance has no bearing on future issues. The lender in this case has made a reasonable request. What is the issue?
Oh boy...look dude I don't know you but why did you bother to respond? The issue is pretty clearly stated..
 

DARREN GODFREY

Junior Member
Joined
Nov 15, 2006
Professional Status
Licensed Appraiser
State
Maryland
Would it then still be C3?
Yes, actually it would , nothing wrong with the condition actually ...it is a quality of construction issue. It will long term probably become a condition issue faster than a properly installed floor but currently it is in average condition.
I think the best way for me to handle this is to make an expanded comment an leave the solution up to the lender and change the condition to average.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
look dude
I'm not the one that popped out here asking questions about issues which you should already be familiar. You are the one that when presented with a question to gain some clarification on the question spewed all kinds of attitude.

Now if you want to engage in an adult conversation, dial it back and respond to what was asked
 

DARREN GODFREY

Junior Member
Joined
Nov 15, 2006
Professional Status
Licensed Appraiser
State
Maryland
I'm not the one that popped out here asking questions about issues which you should already be familiar. You are the one that when presented with a question to gain some clarification on the question spewed all kinds of attitude.

Now if you want to engage in an adult conversation, dial it back and respond to what was asked
Like I said your response was not helpful or relevant , instead it gives me insight on what kind of person you are ...so that is my response to your unnecessary response.
Which lends to the question again...why did you bother to respond.
No one asked how smart you think you are....be gone.
 

Howard Klahr

Senior Member
Joined
Oct 4, 2004
Professional Status
Certified General Appraiser
State
Florida
No one asked how smart you think you are....be gone.
I'm not the one seeking information. Your ignorance is only exceeded by your arrogance.
it gives me insight on what kind of person you are
Your attitude is interfering with your vision. Unfortunately it is you that are the one that is having problems with your client, not I.
 
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