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small problem needing a little help!

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ctag1003

Thread Starter
Sophomore Member
Joined
Jan 16, 2008
Professional Status
Certified Residential Appraiser
State
New York
submitted an appraisal which a photo of the basement bathroom showed caulking around the perimeter floor and bathtub. no signs of water leakage or damage. caulking appeared typical. owner interview (wife) revealed no existing/old damage or water leakage. owner stated caulking was for waterproofing only. U/W sees photo and wants a reinspection and more detailed comment to ensure no cracks in foundation. Upon reinspection husband states the area was caulked because of a hair line crack in foundation wall which was repaired. clearly the wife bs me or was ignorant to the fact. how do i explain that in my post appraisal comment and do I now make the appraisal "subject to" inspection by engineer? should i make a comment that the u/w l/c decide any further action? am i liable for not knowing the caulking was concealing a small crack which was not observable at the time of inspection and not for typical waterproofing.
 

Webbed Feet

Elite Member
Joined
Feb 11, 2005
Professional Status
Certified Residential Appraiser
State
Canada
Ctag,

However this went in your original reporting, it did not make it through UWing. So no loan as yet. You are fine. Write a letter to the UWer, reference your appraisal and effect date etc. so to make the letter a part of your appraisal addendum, tell the UWer what the husband said and state it's all hidden, so you cannot comment on the adequacy of the supposed repairs that you also cannot verify.... It is now the Uwer's hot spud to deal with.

In this case, I would think certification number five has your back on this one. You should try reading them now and then. .. ;)

Webbed.
 

ctag1003

Thread Starter
Sophomore Member
Joined
Jan 16, 2008
Professional Status
Certified Residential Appraiser
State
New York
Thanks for the input. I have read the certs, including number 5..many many times. I'm not sure those would prohibit a lender from blacklisting me if they thought I intentionaly left out these new significant findings (which I did not)...no 15 I think. Anyway I started the long letter explanation which I putting in the appraisal addendum.
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
long letter


short sweet and to the point. too much is wayyyyy too much.
 

Farm Gal

Elite Member
Joined
Jan 14, 2002
Professional Status
Licensed Appraiser
State
Nebraska
Sheesh- Use the Jack Friday approach!!! If you aren't too young to know what that is:leeann: :

Just the FACTS, Ma'am. (no exclamation points, just dry delivery with a straight face.

"At inspection datedxx/xx/xxxx the property owner at the site stated: {whatever} in regards to the {whatever} issue pictured in the original report. Later discussion with the {named} Spouse indicated "whatever". Take whatever action you want lendr - eet's no my probleeem!:icon_mrgreen:
 

Don Clark

Elite Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Virginia
This is what I put in every report;

APPRAISER HAS MADE A VISUAL INSPECTION OF WHAT IS APPARENT. THE APPRAISER HAS NOT MOVED, REMOVED, RELOCATED ANY PERSONAL PROPERTY TO ASCERTAIN A BETTER VIEW. THE APPRAISER HAS NOT TESTED ANY SYSTEM TO SEE THAT IT WORKS BEYOND TURNING IT ON AND OFF. THE APPRAISER IS NOT AN EXPERT IN PLUMBING, ELECTRICAL, HEATING AND AIR CONDITIONING. THE APPRAISER HAS REPORTED AND WILL BE RESPONSIBLE ONLY FOR WHAT WAS READILY OBSERVEABLE AND APPARENT. THE APPRAISER IS NOT AN EXPERT IN ENVIRONMENTAL HAZARDS OR CONDITIONS AND IS NOT QUALIFIED TO COMMENT ON SUCH MATTERS. THE APPRAISER HAS NO EXPERTISE IN MATTERS RELATING TO STRUCTURAL, SOIL, OR OTHER ENGINEERING MATTERS AND CANNOT COMMENT ON SUCH MATTERS.
 

CANative

Elite Member
Joined
Jun 18, 2003
Professional Status
Retired Appraiser
State
California
Be sure to compliment the UW on his/her keen observation and apparent exerpience with structural issues. Pretty sharp underwriter, IMO.
 

Pat Butler

Senior Member
Joined
Jan 17, 2002
Professional Status
Certified Residential Appraiser
State
Illinois
Whether crack was discovered by you during the inspection or by the UW in a photo doesn't matter at this point. It comes down to the lender getting a professional inspection for something like this.

Cert 5 should cover your existing report in that you assumed there's nothing wrong. If the lender gets a professional inspection with a cost to cure from a professional then you can incorporate that into your report.
 
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