"Who Makes the Repairs When FHA Appraiser Finds Problems?"
That is the question I had to discuss recently with my client when she was selling a listing. While this may have been an exception to the normal rules and guidelines, it did come up during the process as a result of the recent catastrophic hail storm in the Phoenix metro area this past October.
During the inspection period the FHA appraiser wrote up the roof and air conditioning unit. The listing was a bit unusual as the home was being sold by the court appointed 'designated representative' of a deceased sibling. My client and her family did have homeowner's insurance on the property, and so the storm damage was covered by insurance. The repairs had been scheduled and were concluded prior to close.
I am now asking for opinions about who is responsible for repairs on the huge number of bank owned properties here in the metro area. Has any other community out there had similar catastrophic storm damage and how was it handled by banks, lenders, insurance companies, etc. in your area?
We have seen dozens of new roofing companies in the metro area. License plates on construction vehicles are from all over the country. And we have heard of problems with some of these companies. They do a job, move on and then cannot be found if there are issues. And, it can be interesting getting a 2-year roof certification if the contractor is not 'licensed' in the State of Arizona. That could be another blog, hmmm.....
If your client is looking at a property that may need roof repairs, make certain that everyone knows the answer to the question "Who Makes the Repairs When FHA Appraiser Finds Problems?"