VA Worn Driveway

[gregb]

Would this driveway meet VA MPR as Safe, Structurally Sound and Sanitary?

 

[hastalavista]

Does VA have the same requirements as FHA in this matter?

 

[glenn walker]

Don't see a health or safety issue-just an old asphalt driveway that has never been resealed- as far as sanitary I have never seen a sanitary driveway- I know of lots of VA and FHA that are on dirt roads or have gravel driveways and it's never been a problem - As long as a guy-gal can drive a car into the garage I would not make an issue of it.

 

[hastalavista]

If the VA's requirements are the same as FHA's, I wouldn't make this a subject-to item. I'd note the condition but conclude, as-is, it remains serviceable as a driveway from the street to the garage. I'd also add that as part of the normal maintenance routine, resurfacing is likely sometime within the next few years.

 

[sandpiperapp]

Greg, as a VA appraiser, I would not make it a VA MPR. As Denis stated, mention it, and state that the the driveways condition was reflected in the overall condition ratings

 

[gregb]

Not sure anymore about FHA requirements. Some might consider the driveway condition as unsafe, others as merely near the end of its use full physical life. Probably won't condition its repair, and hope the buyer does not slip and fall before it is repaired.

 

[jay trotta]

Not sure anymore about FHA requirements. Some might consider the driveway condition as unsafe, others as merely near the end of its use full physical life. Probably won't condition its repair, and hope the buyer does not slip and fall before it is repaired.

Is there heavy snow in your area ? It is summatime .......could not pass up the opportunity

 

[glenn walker]

There is no snow in that area of California : We are praying for rain : LOL

 

[gregb]

Another VA MPR question. VA refinance, owners are waiting for a garage door to be installed, after a drunk driver reportedly crashed into their garage.

 

[hastalavista]

Yikes, Greg!
Seems you are on a roll with regard to property issues that are somewhat borderline.

I can see the argument for making this subject-to, but I'll propose an argument that concludes otherwise....

1. The condition impairs the overall functionality of the home. Garages (I presume) within that neighborhood are expected to have garage doors that work.
2. While affecting the functionality, it doesn't (I presume) affect the habitability of the residence. The plywood barrier doesn't affect the ability to occupy the home.
3. This is (presumably) a temporary condition; one that is easily identified and easily remedied. The cost and scope of the project is well defined.
4. If the subject were to be put on the market and sold, it is very safe to conclude that the impact on value is the cost to install a new garage door (unless that market is particularly "hot"; then it may not have any impact).

A temporary condition, easily remedied, which does not impact the safety or soundness of the structure or its ability to be occupied. Nonetheless, as-is, it would have an impact on value. That impact is easy to identify and account for in the analysis.

I'd identify it, discuss it (as I have above), conclude that it does not affect the safety or impair the occupancy of the home. I'd state that it has an impact on market value (as-is) and adjust for that impact in my analysis.

If the UW has an issue, they can come back and ask me to make it subject-to. Easily done; the impact on the analysis would be to remove the adjustment applied for the garage door condition. That may impact the final value opinion, but not necessarily on a dollar-for-dollar basis: if I've rounded my value conclusion to the logical price-point within the adjusted range, based on that rounding scheme, the consequence of fixing the condition may not dollar-for-dollar. Example: Assume I've rounded to the nearest $2,500. The garage door costs $2,000 to replace. My value may be concluded at the next rounding point (which is $500 more than the impact on value of fixing the garage door).