An “As Is” Property May Still Require Repairs

When an Appraiser goes out to appraise a Lake Charles  home  under contract, the appraiser will make note of the condition of the home when taking into consideration the value of the home.  If the appraiser notes any repairs in the appraisal report, the Bank will require those repairs to be fixed before approving the Buyer’s home loan.  Most of the time a re-inspection fee will apply for the Appraiser to go back out to the home to confirm that the repairs have been made, and then prepare an amended Appraisal report to submit to the bank.  The Buyer will incur this re-inspection fee which can range from $100-$200 depending on the Appraisal Management Company fees.

Avoiding noted repairs and re-inspection is key when Selling a Lake Charles Home.

Before Listing your Lake Charles LA home for Sale, view the Checklist I share with Home Sellers.  If anything is broken or in need of repair, the Seller should take care of  any issues before listing the home for sale.  If not, the buyer’s home inspector will probably point out the issues as well as the Appraiser.

Walk around the exterior of your Lake Charles home and if you know you have rotten boards, facia, soffits or peeling paint on wood trim, take care of those items ahead of time!

Any noted repairs made on the home appraisal will have to be fixed in order for a Buyer to obtain financing.

The most common noted appraisal repair is “peeling paint” on the exterior of a home.

 

Not only will the home exterior be reviewed,  but the interior of the home could also  have potential red flags  especially if there is any missing flooring, holes in the sheetrock or appliances that  do not work.

Even a missing piece of tile flooring should be repaired or replaced.

Any noted repairs made on the home appraisal will have to be fixed in order for a Buyer to obtain financing.

Marilyn Boudreaux is a Full Time Licensed REALTOR in the State of Louisiana affiliated with Century 21 Mike D. Bono & Co.’s.

Copyright 2012© Marilyn Boudreaux

Marilyn Boudreaux, REALTOR® 337-499-9592

Century 21 Mike D. Bono & Co.’s

4410 Nelson Road

Lake Charles, LA USA 70605

337 478-1578

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