What Happens When An Appraiser Calls Out Work That Needs To Be Done Before Closing?

What Happens When an appraiser calls out work that needs to be done before closing

WHAT 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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What Happens When An Appraiser Calls Out Work That Needs To Be Done Before Closing? [VIDEO TRANSCRIPT]

hi I’m Jason Fox with the Madrona group
and Oh where’s Joe?
Whoops, hi I’m Joe .
Where you been dude?
You know sometimes I feel
like I’m a project manager here.
I’ve been meeting the contractor on the job so that’s why my
nice waterproof boots and my new
favorite flannel.
Awesome, I don’t
know if we get trouble for this but this DiXXon flannel, he’s all over these things.
I don’t even want to tell you how
many I have.
You know that’s something we
do, right, as part of our services.
It is. You know like people think being a real estate agent all you do is load people up in the car and drive them around but there’s a lot more to it.
In this case an appraiser said
that some things on this house that
we are trying to sell needed to get done before we can sell it in the next like two weeks and our seller is out of finances.
Yeah.
We have to kind of arrange everything for him and so how’d
that go today?
I went really well you know we’ve gotta get creative sometimes you never know what’s gonna come up.  Figuring out how to paint a deck and a fence and some of the house in the middle of the rainstorms a little bit troublesome deal.
Yeah and hey let’s just put a little plug out for our guy Mike Doble with all four seasons.
Yeah.
You know we give him a call and were like hey man we need a bunch
of work done in this horrible weather and you know we needed done in like a week and he’s out there..
Yeah I told him three days.
Oh know, Mike if you’re
watching this video turn it off.
He met Joe out there today to get working on it and we’re gonna
get this thing closed.
He’s gonna have it done tomorrow and truthfully if we told him we had a month it would just still been done tomorrow that’s just how he is
so thanks Mike for saving our bacon.
About the Author

Jason Fox

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Jason Fox is a father, a real estate broker, a marketing specialist, and a friend. Being born and raised in the Pacific Northwest he has a unique and interesting perspective on local real estate that he can't wait to share with you. Jason lives in the Meadowdale neighborhood and hopes to see you out walking, at the park, at the movies, on a trail, on Stevens Pass, on the beach, at a lake, at a Seahawks or Mariners game, or just commenting on the blog.

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