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Ventura County Appraisal Conditions May Slow Process

With the new pricing on Ventura County properties, the HUD FHA and VA home loans are once again commonplace.  During these types of inspections, I have found some consistent issues that may cost buyers unexpected costs and time. 
The appraiser is required by HUD to identify potential safety conditionswhich is clearly part of their task.  The problem is that some of these conditions are easily remedied and can be completed at little or no cost.
Missing Smoke Detector Battery

Missing Smoke Detector Battery

One example would be smoke detectors missing their batteries, therefore being listed as “non-operational”.  The majority of these can have the 9V battery replaced and be working in minutes.  Or if missing completely, it only takes a minute to install one.  You should ask your home inspector if they are willing to assist in completing simple repairs such as these as part of the inspection.  The vast majority will say no, but you may want to consider using one who will gladly assist in remedying these types of conditions.  One note to remember, the inspector cannot charge a fee to make repairs to the home and can only do this as a professional courtesy.

A second common condition is small holes in the drywall.  While it is not reasonable to expect someone to repair many holes for free, often there is only one or two that can easily be remedied in minutes at almost no cost.

Before Repair

Before Repair

Another example is the missing cover plates on switches and receptacles (outlets).  It only takes one or two screws to be installed on the plates and again this could cause a delay in the escrow process and additional costs may be incurred.  Why is this?

The appraiser in many cases will have to make a return visit to the properly which will have to be scheduled and may delay the process.  In addition, most of the time a fee of $100 to $200 is common for the return visit.  To help avoid this, I recommend having the inspection completed before the appraisal to help identify any conditions that could be easily remedied thereby speeding up the process.

Of course if the property is occupied, the owner would need to give permission to allow any of this repairs to be made.

My experience has been that seller’s are grateful when someone is willing and able to help them complete their transaction.

After Repair

After Repair

About the Author: Rory Hernandez

B.S. Electrical Engineering, California Polytechnic State University, San Luis Obispo Former President, California Real Estate Inspection Association, Conejo Valley Chapter Over 10,000 commercial and residential inspections completed

Search real estate listings in Camarillo, Thousand Oaks, and Ventura

Comments

1. Pingback from Conejo Valley Housing Market Report May 2009 | 805 Local
Time June 3, 2009 at 6:38 pm

[...] FHA/VA appraisals [...]

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