Hi Doug, I also wondered.
A Similar circumstance: this Lender always demands an "AS-ISer" & the loan was conventional. Owner -Investor- with lots of deferred maintenance in a 1920's rental.
I called for several inspections & a "subject to" due to the S-S-S with whatever it required ____ unknown list of items___ to bring the property to a minimum of C4.
Plaster & paint chips on floor, deep holes in walls, mold on the walls, unusable bedroom due to gunk on the floor, broken asbestos shingles, a C6.
Of course the Client-AMC-Lender pushed back wanting "as is".
Although bolded & underlined on the Intro' Page where all CRAP goes so it won't be missed, the inept reviewer for the AMC even sited that I left out the cost-to-cure for the laundry list. ( Responded by requesting "they go first". )
Since I lack the expertise in these areas, I am expecting to receive "additional appraising requests" once I have received the bids for cure & cost breakdown
and will Forum Post the cost-to-cure estimates & respective info'.
** I ask to speak with the Head Chief but only after he had reviewed -read the report in it's entirety. Of course he agreed with me that I had completed the report exactly
as I should have considering...
In the meantime : According to the EPA, professional lead-based paint removal for the following three options costs about
$8 to
$15 per square foot or about $9,600 to $30,000 for a 1,200- to 2,000-sq. ft. house. The average removal project costs about
$10,000.
| Typical costs: |
- Lead-based paint removal costs an estimated $8-$15 a square foot, which means removing all lead from a house of 1,200-2,000 square feet could run as much as $9,600-$30,000, according to RealtyTimes.com[2] ; the average removal project runs around $10,000 for a typical pre-1978 home.
- One option is encapsulation[3] (applying a liquid coating that forms a watertight jacket over lead paint) which on average costs less than 50 cents a square foot, or $600-$1,000 for 1,200-2,000 square feet, according to BobVilla.com.
- Before any removal is done, check to see what you have. Sending a paint sample to a laboratory for professional testing costs about $20-$50 per sample, according to the Consumer Product Safety Commission[4] (CPSC). Do-it-yourself lead paint testing kits[5] are available online or at most home improvement stores for $5-$30 each. However, the CPSC says these kits have not been evaluated and may not be reliable. ConsumerReports.org found that three out of the five lead paint test kits evaluated were useful but limited as screening tools[6] .
- You can order a lead dust test kit[7] for $29.95 from the National Safety Council.
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