This comes from my good friend Nicci Brown… a loan officer with Edina Realty Mortgage
The purpose of a repair is to correct deficiencies which may affect the health of the occupants and the continued marketability of the property. Knowing the most common issues upfront can prevent costly and stressful delays later.
- If the home was built prior to 1978, chipping, peeling paint must be scraped and painted. This includes interior, exterior, garages, sheds, fences, etc.
- Roofs should have 2-3 years of useful life remaining and no more than 2 layers of shingles. If the house is over 10 years old, the snow must be removed from a large portion of the roof for inspection by the appraiser.
- Broken windows should be replaced.
- The cause of wet basements should be cured (i.e., improve drainage away from house, gutters, etc.)
- Electric service must be 60 amp or greater. Electric certification may be required if 60 amp appears to be overloaded (i.e., larger than 1,000 square feet with more than 2 major appliances).
- Abandon inoperable wells must be capped and sealed by a licensed well sealing contractor with certification.
- Safety handrails should be installed in open stairwells of three or more stairs, both inside and outside.
- Infestation of any kind should be exterminated (i.e., insects, mice, bats, etc.).
- Damaged or inoperable plumbing, electric and heating systems should be repaired. The appraiser checks these areas.
- Structural or foundation problems must be repaired.
- Flammable storage tanks must be removed and filler cap sealed from the inside (i.e., buried oil tank).
- If there is a crawl space, it will be the home owner’s responsibility to make this area accessible so that it can be thoroughly inspected.
- Attic space should be made accessible so the appraiser can visually inspect.
Nicci Brown
Mortgage Consultant
Homeservices Lending, LLC dba Edina Realty Mortgage
763.569.5610 Tel
www.niccibrown.com
