Roof And Deferred Mainenance In Appraisal Report

It does not consist of larger items such as the roof heating and cooling system or anything to do with the structure of the home.

Roof and deferred mainenance in appraisal report. Because these items would require costly maintenance in the near future the appraiser would lower the appraisal value of your home accordingly. If the appraiser reports the existence of minor conditions or deferred maintenance items that do not affect the safety soundness or structural integrity of the property the appraiser may complete the appraisal as is and these items must be reflected in the appraiser s opinion of value. Now neglecting the condition of permanent home features is considered deferred maintenance. If there is evidence of major deferred maintenance on the property the mortgage will likely be declined.

While such conditions generally do not rise to the level of a required repair they must be reported. Minor conditions and deferred maintenance are typically due to normal wear and tear from the aging process and the occupancy of the property. If the roof appears to be in poor condition in the appraisal pictures then often lenders will ask for a certification from a roof inspector estimating the remaining life of the roof. These forms currently are not offered in desktop underwriter du as fieldwork options.