Bridge loans are a great way for residential appraisers to supplement their business. 12% for three months plus fees don’t need a certificate or licence in California. These loans may put all of your talents to measure.

I do get it. You should as well !

WOW! you really don’t get it. I would strongly suggest you discuss this with an attorney.

Whoever puts on the roof, would be responsible for the quality of the job, not the appraiser who views the roof from the ground and it appears to have been done properly, that’s like saying that the appraiser is responsible if the buyer didn’t bother to insulate the exterior walls when he goes to put up new drywall that the appraiser would be responsible. We appraisers are only liable for readily observable defects.

What roofing company? The program is for sweat equity, the purchaser put the roof on, not a third party contractor.

You couldn’t be more wrong ! The roofing company would be liable. That is only if the appraiser looked at what he saw as a new roof. If for some reason that the roof obviously looked like a half ass job. Then he should write he/she had concerns regarding the repair that has been made and write it does not appear that the repair was made “in a workman like manner”. Then the appraiser should call for a roof inspection if he had any concerns. We are not held responsible for anything outside of our expertise ! 27 years of appraising and NO problems !!! Don’t forget…disclose, disclose and disclose !!!

It is best to always require an inspection and or repair by a licensed qualified professional. Your E&O company has attorneys that can provide guidance on the verbiage to include in your report and advice on what to do. They do not charge for this advice.

Remember, just because your client wants you to do something, it does not wan you should.

Oh now I’m supposed to be a receipt auditor?

“We’re from the government and we’re here to help.”

Cost to cure is a non issue, just call for ‘recommendation of a person qualified in this field of service’, slap a subject to and a loose range estimate based on hypothetical limitations to the condition, problem solved. If it turns out to be more, the buyer can always walk away. It would go against logic to believe this program entices buyers to perform work on properties they do not yet own, or if it did, that’s an absurd concept and they should get 203k’s instead.

There’s reason for concern. Have you ever checked the VA policy relating to roofs? They refuse to allow appraisers to call out for roof inspections, but rather want the appraiser to call out a partial repair, or an entire repair (new roof) all while saying you don’t have to get ON the roof. I’m working on a report now where I will most likely call for an entire new roof. Calling out new roofs, is a long way off of calling out a cost to cure for a pane of broken glass.

Seek the truth.

I have been in court cases where an appraiser tries to testify on construction techniques. They get torn apart.

Of course, but appraisers, reviewers who try to explain what kind of siding needs to be put on, gutters that are installed incorrectly, sorry, they have no training for this and should not be recommending construction techniques. We are going to have to disagree on that my friend.