More Appraisal Tips - Health, Safety, & Soundness
Cosmetic repairs are not required; however, they will be considered in the overall condition rating and valuation of the property. Examples of cosmetic repairs would include surface treatments, beautification or adornment not required for the preservation of the property. For example, generally, worn floor finishes or carpeting, holes in window screens, or a small crack in a windowpane are examples of deferred maintenance that do not rise to the level of a required repair but must be reported by the appraiser.
The physical condition of existing building improvements is examined at the time of the appraisal to determine whether repairs, alterations or inspections are necessary—essential to eliminate conditions threatening the continued physical security of the property.
Required repairs will be limited to necessary requirements to:
- Protect the health and safety of the occupants (safety)
- Protect the security of the property (security)
- Correct physical deficiencies or conditions affecting the structural integrity (soundness)