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Safety Hazards

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BillDavis

Freshman Member
Joined
May 18, 2003
I am curious about how other appraiser's are addressing potential safety hazards on appraisals for conventional loans. In a recent discussion between appraisers in my area, I've found appraisers handle these differently. For example, some have addressed the issue in the appraisal, but kept the appraisal as is. Some make the appraisal subject to. Some include a cost to cure, some do not. Some use the cost to cure in the market grid and some just mention it in an addendum for the underwriter's information. and some ignore the issue altogether. I got to thinking if there's such a variety in this area, what are other's doing? There were a few larger appraisal shops in this area that trained a bunch of appraisers and I wonder just how well they are trained.

Thanks,

Bill Davis
 

Mountain Man

Elite Member
Joined
Jan 15, 2002
Professional Status
Certified General Appraiser
State
Georgia
It Depends.......... on the case and clients requirements.

But in general: As Is with cost to cure if it's a small thing. Subject to if it's a big thing, or is beyond my expertises.
 

Tom Barclay

Senior Member
Joined
Apr 7, 2002
Professional Status
Retired Appraiser
State
Oregon
I take a common sense approach to safety issues. What is my liability if I do not chose to, or neglect to mention things like broken glass, exposed wiring, burnt outlets, lack of or rickety railings on second floor balconies. If you ignore those, and do not make the appraised value contingent on the repair; then a lawsuit is in your future. Makes no difference to me if it is a conventional, or any other loan. Can you live with yourself if you saw a 12-3 wire hanging out of the ceiling where a child could grab it? Even if it wasn't hot when you were there, somebody could come along and throw a switch somewhere that makes it potentially deadly. I am a professional, and I should know better even if the homeowner does not. That is what the lawyers will say, and you will have no defense. Just open your wallet, and let the $ roll. In my opinion, you are gambling your future away if you do not address significant safety issues.
 

Frederick R. Ruffell

Senior Member
Joined
Jan 21, 2002
Professional Status
Certified General Appraiser
State
California
If it is a health and safety issue I make the report Subject to the correction of the un-safe condition. If my client doesn't like it let their underwriter waive the condition, they CAN do that you know!!! ;)
 
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