Aaron Mtuanwi, INSPIRED TO SERVE Atlanta, GA [Metro Atlanta Area] (LBBM Brokers, Inc)

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Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

There is nothing unethical about what the appraiser is asking to be done. He is doing his job, covering his bases. Now the lender can override the appraiser but they are not likely to do that since it could affect the selling of the loan.

Oct 17, 2016 01:46 AM
Rainmaker
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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Aaron Mtuanwi This is a common occurrence where an appraisal will stipulate the value based on completed repairs. The remedy is to fix the issues and make the repairs.

Oct 17, 2016 02:44 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

there is not time limit for the appraiser to finish the appraisal...

the remedies are to fix it; negotiate the price; say no....

Oct 17, 2016 01:30 AM
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I don't see a ethics issue here.  Is the lender requiring these repairs be made?

Oct 17, 2016 01:30 AM
Rainmaker
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Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Is it an FHA or VA appraisal. If so, they are fully in their rights to insist on certain work being completed. Appraiser has every right to report what he/she sees. I believe it's really the lender who is now insisting that work be done to approve the loan.

Oct 17, 2016 08:58 PM
Rainmaker
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

It depends what type of mortgage the buyer is getting, if FHA, VA or USDA than it is common. This is why i like attending appraisals on my listings to head off surprise issues. I have noticed though appraisers over stepping on conventional loans

Oct 17, 2016 06:00 AM
Rainmaker
1,504,635
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg IL Real Estate

No not that I know of. It would be a problem if the house did not have water running as I've seen appraisers take pictures of water running at the sink to prove habitability.

The house has to be habitable in order to get a loan.

Oct 17, 2016 03:03 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Aaron,

I think all the answers are here.  We wish you success with this transaction.  A

Oct 17, 2016 01:41 AM
Rainmaker
724,099
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Sounds like an inspector's job. Need to fix.

Oct 17, 2016 01:40 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like you need to get the sellers attny involved.

Or they can just say NO to the list.

Oct 17, 2016 01:34 AM
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Jerry Newman
Brown Realty, 210-789-4216,www.JeremiahNewman.com - San Antonio, TX
Texas REALTOR, San Antonio Military Relocation

If the seller is a Bank, then I must assume that it's a foreclosed property. There are always addendums that banks required buyers to sign off stating that they are buying "AS IS". If the appraiser is requesting repairs, then it becomes lender required repairs. Appraiser should have known this was a foreclosure. 203K, rehab loan maybe a solution if it's an FHA loan. Bank might only want to deal with a CASH deal instead of conventional financing.

Oct 17, 2016 01:33 AM
Rainmaker
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Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

The others have answered.

Oct 17, 2016 10:03 PM
Rainmaker
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William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Depends on the type of loan.  Also, if the bank is asking them to also do an inspection then it should be done, but that should be dtipulated before the appraisal is done

Oct 17, 2016 11:26 AM
Rainmaker
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Les & Sarah Oswald
Realty One Group - Eastvale, CA
Broker, Realtor and Investor

There is nothing unethical. No lender or appraiser will sign off on a property without a hot water system.

Oct 17, 2016 09:03 AM
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Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

Depends on the financing.

Oct 17, 2016 05:47 AM
Rainmaker
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Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

On a VA or FHA loan, they are very particular about the condition of the property.  If you're going conventional, not so much.  In this instance, I'd side with the appraiser here since I doubt a bank would want to loan on something that has foundation issues.

Oct 17, 2016 04:57 AM
Rainmaker
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FN LN
Toronto, ON

A review of the code(s) of ethics or similar that the appraiser is bound to would be required in order to answer this question, at least in part.

Oct 17, 2016 03:39 AM
Rainmaker
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Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Lots of answers already - best of luck with this one

Oct 17, 2016 03:32 AM
Rainmaker
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Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I think it's within his scope of work.

Oct 17, 2016 01:57 AM