Roof Of Garage? Do They Care About That?

[Pekejake]

question on vc sheet seems to pertain only to the structure (subject). The roof was terrible on the garage.. any suggestions, thanks

 

[Pekejake]

This is a detached garage, does FHA want this itemized?

 

[Pamela Crowley (Florida)]

You have a couple of options with a detached structure.

Is it bad enough that the garage might collapse?
If so, either VC it to be removed or repaired.

Is it bad, but not dangerous?
You can give it NO added value due to it's condition. Explain it's condition and include pictures, but specifically state it is given No Value.

If it needs a new roof and maybe some wood rot replaced and painted, VC it for the repairs and give it value as if those repairs are complete.

No matter what you do with it regarding repairs and it's value, if it has ANY chipping or peeling paint and was built prior to 1978 (I think that's the correct year), VC it for paint remedy.

Basics:
If it has ANY lead base paint issues, VC it.
If you are going to give it any value at all, it must be repaired.


Now, I'm waiting to see what Ben V has to say on this issue.

 

[liznindy]

IMHO, the roof on the garage (whether detached or attached) should have at least 2 years remaining life.

If FHA didn't care about the condition of structures other than the residence, why would they ask for photos of them?

I would definitely report the garage roof's condition. It is within the underwriter's authority to determine if the roof must be replaced or not.

 

[Mike Garrett RAA]

All roofs!

 

[Pekejake]

Then why does it say for vc item 9, "all roofs on subject property must be addressed, provide a detail description of any yes related items" doesnt mention roof but subject..

also i noticed on prior vc sheets it use to ask for estimate market value, now the updated FHA doesnt require that...

 

[John Henry]

Lori

You are correct, VC #9 is all roofs on subject property must be addressed. You do realize what we appraise is real estate and the real estate is the dirt, ie property so therefore the statement subject property includes all dwellings, including porches, garages (attached & detached) gazebos, etc, etc, etc. Just remember we appraise real estate and the improvements made to it and generally the improvements is a house.

 

[Rob Bodkin]

Then why does it say for vc item 9, "all roofs on subject property must be addressed, provide a detail description of any yes related items" doesnt mention roof but subject..

also i noticed on prior vc sheets it use to ask for estimate market value, now the updated FHA doesnt require that...

Lori,

All roofs on subject property would include the garage. It has a roof and is on the subject property. It used to be that the appraiser would either call for a new roof or be comfortable in saying that the roof had at least 2 years of remaining economic life. One of the changes includes giving the appraiser the option of requiring a roof cert from a qualified roofer/contractor. Though the sneaky shops have sneaky roofers who will give them one on a roof that is leaking.

If the roof is questionable, call for a roof cert and leave it to a pro.

The old VC sheet asked for assessed value, not your estimated market value.

Without trying to be critical, you should really consider taking an FHA inspection/appraising class. This roof thing is an example of a fairly critical and basic issue that can really come back to bite you, your client and the parties in the transaction.

 

[Don Clark]

B) Lori'

Go to www.HUD.gov and you can click on appraisers, from there you can find a way to download a HUD 4150.2 Manual. Or you can call the government printing office and they will send you one. If you don't have one send me a PM with your address and I will mail you one.

And, yes, a roof on any structure on the subject property(Land and attachments, has to have a roof with a minimum of 2 years remaining life. 4150.2, Chapet 3-6 A12. and Protocol D-30 "Observe roof coverings, etc". Coverings is plural.