- Feb 8, 2004
- Professional Status
- Certified Residential Appraiser
NOTE: It would appear you have answered your own Question; the liability has been given to the Mortgagee for those items you note. No need for an EA at the time of the report; if the Lender/AMC provides you with "Proof" of either being a problem, they would need to request a reconsideration for the "cost to repair". You would have had no prior knowledge in regards to either, as you are not a licensed field Expert in either field (I would assume).HANDBOOK 4000.1 indicates that the mortagegeeee (funny word) needs to obtain proof that a septic system is functional and the property is termite-free. So . . . does each appraisal need to be conditioned "subject to" septic and termite certs regardless of whether evidence of leaks/investion is apparent?
Caveat: Not asking whether others feel that I'm [in]competent. From a regulatory perspective, the appraiser is doing what is necessary to become competent, before there becomes a client who deserves a heads-up.
As for the pages of input, there is a wealth of knowledge provided, read and absorb, don't be so quick to poke the tiger.