Hello Houston-I Think We Have a Water Problem!

by Michael Bolton on April 25, 2012

I’m not a home inspector, and I’ve never pretended to be one in real life, or in a movie for that matter. But, it doesn’t take a brain surgeon to realize that we definitely have a water problem with these walls. It always amazes me the “wait and see” attitude people have before an appraiser comes to inspect their home. 

This appraisal was for a conventional mortgage (Fannie Mae), which doesn’t require that the appraiser inspect the attic. Only FHA requires that an appraiser inspect an attic area (follow this link for a detailed explanation of FHA’s requirements). However, for this appraisal it made sense to take a closer look as to what was causing this destruction. There was a lot damage to attic walls and roof, and consequently water had been running down in between the walls for quite some time.

Appraisers are responsible for more than just estimating an opinion of value, they are the eyes and ears for the lender. The lender wants to make sure that if they’re going to loan someone money for 30 years, that the property will last at least that long, which only makes sense.

I always highly recommend getting a home inspection done, even though appraisers are required to inspect more than what was previously required of them, it still isn’t to the level a professional home inspector does.

If you have any questions, or real estate appraisal needs (divorce, bankruptcy, tax appeal, or estate planning) please contact Michael at 612.599-2581, or use the form on the contact page.

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