detrimental conditions
289) Reporting Detrimental Conditions
04/02/08
Dear Henry,
I was requested to appraise a property by a lender and at the inspection the homeowner mentioned that an insurance adjuster would be inspecting the roof the following day due to recent ice storm damage. This immediately put me on alert. Inside the subject property, I noticed a couple of water stains on the ceiling; however no further damage was apparent to me. On that note, I am not a roof specialist or home inspector. What would be the appropriate action to take?
Should I list the repairs apparent to me, adjust the comparables accordingly, and make an extraordinary assumption (appropriately disclosed) concerning the overall condition of the roof and then recommend a Home Inspector/Roof Specialist inspect the roof?
Name & Address Withheld by Request
Dear Jessica,
What you propose to do sounds O.K. to me. Whenever you learn about detrimental conditions on a property, you have an obligation to disclose them to your client in the appraisal report.
H2
I was requested to appraise a property by a lender and at the inspection the homeowner mentioned that an insurance adjuster would be inspecting the roof the following day due to recent ice storm damage. This immediately put me on alert. Inside the subject property, I noticed a couple of water stains on the ceiling; however no further damage was apparent to me. On that note, I am not a roof specialist or home inspector. What would be the appropriate action to take?
Should I list the repairs apparent to me, adjust the comparables accordingly, and make an extraordinary assumption (appropriately disclosed) concerning the overall condition of the roof and then recommend a Home Inspector/Roof Specialist inspect the roof?
Name & Address Withheld by Request
Dear Jessica,
What you propose to do sounds O.K. to me. Whenever you learn about detrimental conditions on a property, you have an obligation to disclose them to your client in the appraisal report.
H2