GRRRRRR!!! I had a case last year where the appraiser said there was peeling paint. The listing agent and I went over there and we couldn't find peeling paint. What he was speaking of was simply faded paint on a soffit. It wasn't peeling or chipping. Result - owner slapped on a coat of paint to that area.
Marcia, it has definately been an issue with older homes I have appraised. It seems to be a misunderstood subject to sellers and agents based on the feedback I have gotten.
Doug, thanks for your input. I don't normally note the paint if it is just fading because it probably will not flake off and create a poison hazard. Glad you were able to get it taken care of and get the loan closed.
Hi Tom! Good to see you posting! This paint issue is like so many other things....educating your clients and addressing potential problems at the beginning is less painful than nasty surprises when you are trying to get the deal closed.
Thanks Ann. I have been working on my outside blog lately and decided to do some cross posting to take advantage of AR's great SEO. Kudos on the education up front. I have been trying to spread the word on these types of issues so things don't get hung up at the last minute before the closing. Thanks for your input.
I'm sorry Loanmu, I'm not sure where you might find out about your VA check. Good luck.
Yes, peeling paint can be an issue. I had a few clients who repainted some spaces just to pass FHA appraisal inspection.
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