Florida inspectors should read this

[John Shishilla]

http://www.nachi.org/forum/f11/realt...d-deals-66305/

[William C. Chandler]

Failed home inspections by HI's are not that big unless you are talking "mold" and "structural issues" with lenders. Biggest problem is low appraisals and repair estimates by the lenders inspectors (HUD/FHA,etc). I inspected one home, 1600sf, block, good roof, needed cosmetic work on a nice lot in stable neighborhood - appriaser valued it at $34k using two derelict properties in other neighborhoods. Non-foreclosure buyer can not sell due to this low appraisal. I recently looked at a home where they estimated $5k in repairs for about $1k in simple repairs. Then I looked at another where they approved the sale but the FHA inspector failed to note about $12,000 in needed repairs, new HVAC/duct, new roof, new water heater, etc. Looked at another where a qualified buyer, putting 30% down, was denied as the FHA inspector said the home was "uninhabitable and should be condemned" (actual words). The house, on a crawlspace, had minor leaks at the bath sink plumbing and an old gas heater in the family room (which had been valved off). About $250 in repairs is all this home needed. Had wood floors below some 20 yr old carpet and could use some new cabinets in kitchen but that is not a deficiency but obsolesence. The inspector said the home was "uninhabitable and should be condemned". Where do they get these idiots from?

Thanks for posting this, John.

[Jerry Suarez]

Great info, thanks for posting.

[Brian C. Hoagland]

Originally Posted by wchandler

Failed home inspections by HI's are not that big unless you are talking "mold" and "structural issues" with lenders. Biggest problem is low appraisals and repair estimates by the lenders inspectors (HUD/FHA,etc). I inspected one home, 1600sf, block, good roof, needed cosmetic work on a nice lot in stable neighborhood - appriaser valued it at $34k using two derelict properties in other neighborhoods. Non-foreclosure buyer can not sell due to this low appraisal. I recently looked at a home where they estimated $5k in repairs for about $1k in simple repairs. Then I looked at another where they approved the sale but the FHA inspector failed to note about $12,000 in needed repairs, new HVAC/duct, new roof, new water heater, etc. Looked at another where a qualified buyer, putting 30% down, was denied as the FHA inspector said the home was "uninhabitable and should be condemned" (actual words). The house, on a crawlspace, had minor leaks at the bath sink plumbing and an old gas heater in the family room (which had been valved off). About $250 in repairs is all this home needed. Had wood floors below some 20 yr old carpet and could use some new cabinets in kitchen but that is not a deficiency but obsolesence. The inspector said the home was "uninhabitable and should be condemned". Where do they get these idiots from?

Thanks for posting this, John.

Was it an FHA inspector or appraiser? Typically with 30% down it would not be inspected and it wouldn't be an FHA loan, they could have gone conventional.