Roof And Deferred Mainenance In Appraisal Report

While such conditions generally do not rise to the level of a required repair they must be reported.

Roof and deferred mainenance in appraisal report.

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. 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. These forms currently are not offered in desktop underwriter du as fieldwork options.

Minor conditions and deferred maintenance are typically due to normal wear and tear from the aging process and the occupancy of the property. Because these items would require costly maintenance in the near future the appraiser would lower the appraisal value of your home accordingly. Appraisal report form 1025 and the individual cooperative interest appraisal report form 2090 are non uad forms fannie mae does require that they be submitted to ucdp prior to loan delivery. If there is evidence of major deferred maintenance on the property the mortgage will likely be declined.