Mimi Foster, Voted Colorado Springs Best Realtor (Falcon Property Solutions)

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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Apprasier had some free-time on their hands....

Mar 22, 2019 02:46 PM
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Not on a conventional mortgage appraisal... VA and FHA you will see conditions but they are not voluntary for completion.

Mar 23, 2019 04:08 AM
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1,508,961
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

FHA appraiser? 

Mar 23, 2019 12:04 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Once written down, it is hard to take them back, hopefully the underwriters will see through to the important points.

Mar 22, 2019 08:42 PM
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512,790
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Well that's a new one for me. I have never seen this before.  Q. What did the Lender say?  Keep us posted. Thanks Mimi Foster 

Mar 22, 2019 06:55 PM
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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

What does the lender say? 

Mar 22, 2019 03:28 PM
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Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

More power demanded from the underwriter! This is truly ridiculous. What shape is this house in?

Mar 23, 2019 05:26 AM
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1,087,976
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

They don't teach that one at school or at least I hope not.

Mar 23, 2019 02:18 AM
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Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Where did the lender come from and even more important where did the appraiser come from? Is it possible that the buyer or buyer's agent had contact with the appraiser? What kind of loan was this?

Oh to answer you question... NO!

Mar 22, 2019 09:43 PM
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Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

That's a new one for me - sounds ominous! Wonder what the underwriter will say?

Mar 22, 2019 07:41 PM
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468,109
Dan Pittsenbarger
Keller Williams Western Realty - Bellingham, WA
Improving Conditions

No and I hope I do not. I don't like having any conditions - a list ohhhhhhnnnnooooooooo! Have a terrific weekend.

Mar 22, 2019 06:23 PM
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co. Notary Services, retired Realtor

I get it unless it's a VA or FHA loan Mimi Foster .

Mar 22, 2019 05:32 PM
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Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

that's absurd.... tenant and buyer should have been notified to leave the home during the appraisal.... listing agent there to accompany... sounds like a free for all....

Mar 22, 2019 05:22 PM
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Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Interesting! No I have never seen this before.

Mar 22, 2019 05:07 PM
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Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Since when do appraisers make a suggested repairs list? Just write the appraisal as the property sits

Mar 23, 2019 05:38 AM
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Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

Never seen it but there is always a first , it seem lots of first these days.

Mar 23, 2019 04:58 AM
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518,901
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

The lender needs to know if this appraiser is a licensed home inpector or not. The appraiser has stepped outside of their field of expertise and their opinion in that regard is just opinion and not fact.

Mar 23, 2019 04:19 AM
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Richard Weeks
Dallas, TX
REALTOR®, Broker

I've never seen that.  Hopefully one of our lender member will comment.

Mar 23, 2019 04:15 AM
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Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

No, I haven't seen this. Let us know how this turns out once underwriting is done!

Mar 23, 2019 02:52 AM
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Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Fortunately, I have not.

Mar 22, 2019 08:06 PM
Rainer
303,986
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

I heard of a buyer that had their lender do something very similar. It is being bought from the estate by one of the children and that buyer's lender made all of these stipulations about required repairs. I was not privy to the appraisal, but heard about the lender's requirements.

Mar 22, 2019 06:37 PM
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Mimi,

Never a dull moment in this business.  A

Mar 22, 2019 02:20 PM
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Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Wow! I have not seen such a thing - at least not with a conventional loan.  This wasn't an FHA loan, was it? The appraiser is not a home inspector.  They do sometimes point out obvious issues (i.e. a roof that visibly needs repair) which can impact the value of the home, but not a long list which would be something the home inspector should generate.

Mar 23, 2019 08:26 AM
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Sandy Padula and Norm Padula, JD, GRI
HomeSmart Realty West & Lend Smart Mortgage, Llc. - Carlsbad, CA
Presence, Persistence & Perseverance

Seems like an appraiser wishing he was a home inspector instead.

Mar 23, 2019 07:44 AM
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Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

Nina Hollander Inna Ivchenko Bob "RealMan" Timm & Scott Godzyk all have your answer - it's an FHA Appraisal- those guys treat it like a property inspection, that's why you advise your clients to choose the buyer carefully, based on their financing, when there are condition issues. I've seen FHA Appraisers write up tiny nail holes in the wall (from picture frames), floors that are a little worn & need finishing, ridiculous stuff... it's government backed  so it's going to come with red tape Mimi Foster 

Mar 23, 2019 07:14 AM
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I came back and forth to ponder this LOL yes sometimes I ponder. 🧠🤔😜
All I can say is, somebody had too much coffee writing that report.
IF it appears that the appraiser was influenced by the tenant following him around to point things out, I might be inclined to challenge that appraisal.

Mar 23, 2019 06:18 AM
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Was it an appraisal or someone seeking business as a home inspector?

Mar 23, 2019 05:52 AM
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Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

If it is not a FHA or VA loan, then it is appraiser over reach. I would call them and let them know the mess they made

Mar 23, 2019 05:49 AM
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Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Good luck!

Mar 22, 2019 02:35 PM
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Since I only do new construction I am blessed not to see this.

Mar 22, 2019 02:31 PM
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Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

There is always something new in real estate.  Is the appraiser trying to CYA and reduce his liability?  "Huh" is a great comment on the appraisers statement.

Mar 23, 2019 10:20 AM
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

It's something that they typically say when they find items that they feel may need to be repaired. However, if the lender is concerned (which they shouldn't be), they can ask the appraiser to strike the comment.

They do this to let the lender know that THEY, as appraisers, are not requiring any repairs (as they often do with FHA & VA) and THINK they're letting the lender off the hook by saying to determine "which, if any..." repairs will be required prior to Closing. 

What upsets me is when an overzealouos underwriter gets ahold of the laundry list and DOES require them ALL to be done AND the appraiser has to go back to confirm the repairs before Closing can occur!

If I were the lender, I would have that sticken from the report before it hits the underwriter's desk! 

Mar 23, 2019 02:48 PM
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Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

This I have not seen before.

Mar 23, 2019 02:40 PM
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535,486
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

I see sometimes conditions appraisers put, but they have to be corrected for the lender to fund the loan. Not seen anyhting which is an advisory. I see more of the advisory language on home inspection reports.

Mar 23, 2019 12:16 PM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

 I have not.  Has the appraiser over-stepped - are the comments outside of the appraiser's appraisal guidelines. Undue influence?  The tenant who is the buyer present when the appraisal took place?  Hum, was there an exchange of cash under the table during said appraisal? One does have to wonder or ponder, just ask Michael Jacobs 

Mar 24, 2019 08:32 AM
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Never saw that last line,  weird.

 

Mar 27, 2019 10:27 AM
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Susan McCall - - Compass Realty Solutions
Compass Realty Solutions - Portland, OR
Listing and Buyer's Agent

A buyer of mine sent the inspection report to the underwriter, even though I specifically asked her not to do it.  Not the appraisal - the inspection.  That was quite a mess to untangle.

Mar 23, 2019 05:57 PM
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Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Very unusual for an appraiser to "recommend" fixes.

Mar 23, 2019 05:47 PM
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861,324
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Will the lender make the loan without insisting that the appraisers list of repairs be addressed? I fear this appraiser just may have killed this deal.

Mar 23, 2019 04:08 PM