Much has been said lately about appraisers - most of it not good. Many pointed a finger at them for allowing the over-inflation of homes, which led to the current housing problems and even (some say) the recession. Be that as it may, they are human - I was married to one once - and are now trying to cope with new rules and regulations.
The next concern is if the property will appraise to the sale price. We haven't had too many problems there, as Shell Knob did not see a huge inflation in prices as Florida or California did.
My problem the past few weeks has been with getting a home sold July 6 to close, due to the appraisal taking so long to get done, and the the appraiser making unusual comments about the property.
The problem comment was:
Minimum deferred maintenance.
What does "Minimum deferred maintenance" mean?
This Shell Knob house was a builder's spec , which had sat 2 years unsold, and the builder ran out of money before he got bedroom carpeting laid. Turns out, after alot of head scratching as to what the "Minimum deferred maintenance meant", it was the lack of carpet that was the culprit. However, even tho the house appraised higher than the sales price, and the buyer had gold-plated credit, the underwriter held this up, due to the appraiser's comments!
Had to get an Early Occupancy Agreement for the buyer to install the carpet this week end. Lord willing and the creek don't rise, we might actually get some signatures at the closing table next week.
Call Joan For All Your Real Estate Needs - 417-846-7128
Tri-Lakes REALTORS 417-858-3344 
Comments(0)