- Dec 26, 2010
- Professional Status
- General Public
I'm the buyers real estate agent on a current deal in Pennsylvania to purchase a detached home. The relevant facts follow:
- The appraiser called for a structural engineer to examine the foundation of a sun room to determine if this compromised the overall structure and was a threat to the safety of those living there.
- The engineer visited the home and created a report stating that 'In its current condition the sunroom is sate and structurally stable.' The report was provided to the lender and the appraiser.
- The lender is stating that the appraiser should now change the appraisal to be 'as is' from 'subject to'. The appraiser is unwilling to do this and feels that this should not be necessary for the underwriters to approve the loan. It seems like the lender is not going to approve the loan if the appraiser doesn't make this change.