stacy158
Freshman Member
- Joined
- May 6, 2007
- Professional Status
- Certified Residential Appraiser
- State
- Florida
ok I have an REO appraisal and I'm having questions on the "AS IS" and the "AS "Repaired part.
Example:
Say I have 3 comps and their all in fair shape but the subject has holes in the walls broken windows ...etc ( basically $4000 worth of deferred maint)
ok and on the sales comp grid the value comes out to $32,000 ...
now on the REO addendum page do I put $32,000 for the "AS IS" Value??
or do I minus the $4000 in Def Maint and make the "AS IS" value $28,000
and the "as repaired value" $32,000 ($4,000 + $28,000) to be equal with the other homes on the sales grid???
or would the "AS IS" Value be $32,000 and the "As repaired" value be $36,000 ?? ($4,000 + $32,000) ??
Help! this question keeps stumping me
does anybody know the correct answer to this???
also as a side note are you suppose to check to see if the Appliances work such as AC, Fridge, Oven, etc ?? Like an FHA? or if there just there?
Thanks in advance for your help!!
Example:
Say I have 3 comps and their all in fair shape but the subject has holes in the walls broken windows ...etc ( basically $4000 worth of deferred maint)
ok and on the sales comp grid the value comes out to $32,000 ...
now on the REO addendum page do I put $32,000 for the "AS IS" Value??
or do I minus the $4000 in Def Maint and make the "AS IS" value $28,000
and the "as repaired value" $32,000 ($4,000 + $28,000) to be equal with the other homes on the sales grid???
or would the "AS IS" Value be $32,000 and the "As repaired" value be $36,000 ?? ($4,000 + $32,000) ??
Help! this question keeps stumping me

also as a side note are you suppose to check to see if the Appliances work such as AC, Fridge, Oven, etc ?? Like an FHA? or if there just there?
Thanks in advance for your help!!
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