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VA Escape Clause

Amy Perkins

Senior Member
Joined
Jul 20, 2003
Professional Status
Certified Residential Appraiser
State
Tennessee
So let me get this straight, you now have to estimate a roof repair instead of call for a two year roof certification. You now have to give an estimate for a structural repair instead of call for a structural engineer's report, and you need to estimate a cost to clean up mold, so you need to act as a mold inspector. Seems like the VA wants you to act without the proper licenses.
 

1963Christopher

Thread Starter
Sophomore Member
Joined
May 20, 2014
Professional Status
Gvmt Agency, FNMA, HUD, VA etc.
State
Texas
"So let me get this straight, you now have to estimate a roof repair instead of call for a two year roof certification. You now have to give an estimate for a structural repair instead of call for a structural engineer's report, and you need to estimate a cost to clean up mold, so you need to act as a mold inspector. Seems like the VA wants you to act without the proper licenses."

Amy, the VA has never required the appraiser estimate a cost to cure on purchase or refinance action appraisals...
 

Honey West

Freshman Member
Joined
Nov 20, 2016
Professional Status
Certified Residential Appraiser
State
California
"So let me get this straight, you now have to estimate a roof repair instead of call for a two year roof certification. You now have to give an estimate for a structural repair instead of call for a structural engineer's report, and you need to estimate a cost to clean up mold, so you need to act as a mold inspector. Seems like the VA wants you to act without the proper licenses."

Amy, the VA has never required the appraiser estimate a cost to cure on purchase or refinance action appraisals...
But I’m running into this on an FHA Appraisal. Apparently my pointing out issues like - the septic tank has not been serviced or inspected in at least 10 years, per the borrower means that I’m supposed to come up with a cost to cure. My guess is that it is leaking in a way other than a leach field, deep underground or the sewage is being otherwise diverted. I’m supposed to “ divine” what the problem is and estimate cost to cure? Don’t get me started on the roof, siding, rickety stairs and the pet damage to flooring. Like I can tell if the subfloor needs to be replaced due to extensive cat urine? What is the math? X number of cats X how many years? Gender of cat to determine wall spray? GMAFB!!!
 

KYLECODY

Senior Member
Joined
Apr 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
But I’m running into this on an FHA Appraisal. Apparently my pointing out issues like - the septic tank has not been serviced or inspected in at least 10 years, per the borrower means that I’m supposed to come up with a cost to cure. My guess is that it is leaking in a way other than a leach field, deep underground or the sewage is being otherwise diverted. I’m supposed to “ divine” what the problem is and estimate cost to cure? Don’t get me started on the roof, siding, rickety stairs and the pet damage to flooring. Like I can tell if the subfloor needs to be replaced due to extensive cat urine? What is the math? X number of cats X how many years? Gender of cat to determine wall spray? GMAFB!!!
This is a VA thread..With their updated handbook some things are different...




For FHA, an entire different story..tell that lender no and ask for as many inspections as you want. The trade professionals estimate costs, we just include them as needed and leave the liability to them. All you can do is point out deficiencies, request inspections from appropriate tradespeople and analyze/report what they say. If a lender expects you to "guess" at costs use your grown person powers to say no;)
 

Honey West

Freshman Member
Joined
Nov 20, 2016
Professional Status
Certified Residential Appraiser
State
California
This is a VA thread..With their updated handbook some things are different...




For FHA, an entire different story..tell that lender no and ask for as many inspections as you want. The trade professionals estimate costs, we just include them as needed and leave the liability to them. All you can do is point out deficiencies, request inspections from appropriate tradespeople and analyze/report what they say. If a lender expects you to "guess" at costs use your grown person powers to say no;)
Love that expression, thank you. I did get sidetracked into a VA thread after starting with the category of FHA/VA/HUD; appreciate your reply.
 
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