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April 26, 2024Buying a Home in Brier | The Madrona Group Success Stories
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November 21, 2023WHAT HAPPENS WHEN AN APPRAISER CALLS OUT WORK VIDEO
THE WORK MUST BE COMPLETED TO SATISFY THE CONDITIONS OF LOAN BEFORE THE SALE CAN CLOSE
In this video Jason Fox interview Joe Kiser about a current sale in which we represent the seller and what happened after the appraiser called out a bunch of work that needed to be done to the home before we can close.
Every real estate deal is unique and there are always a million variables. Factors to consider that differ whether we are representing a buyer or seller.
In this real estate deal we are representing the seller. The home is currently pending sale and was in pretty good shape.
However, the buyer was using a state bond loan program or an FHA loan and the appraiser called out a few things that did not meet FHA guidelines. While there are general rules we find that different appraisers have different viewpoints on what they mean.
In this case the appraiser asked us to touch up some paint on the exterior of the home and paint the deck and a section of the cedar fence.
Often times when these kind of things pop up I will go out to the home and do the work. But this was a bigger job and we are in the middle of multiple storm fronts, so we hired our handyman.
Mike Doble
(206) 419-6352
All Four Seasons
Joe went out to meet Mike at the home to go over the scope of work and for this sale, like many, we will be wearing the hat of project manager.
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HOME VALUATIONWhat Happens When An Appraiser Calls Out Work That Needs To Be Done Before Closing? [VIDEO TRANSCRIPT]
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