Tag Archive for: health and safety issues

Health and Safety Issues Delay & Kill Deals!

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Health and safety issues are often very similar to structural issues, and they often overlap each other. The problem is that once they are called out, lenders won’t lend against a property until the health and safety issue is addressed.Read More

Appraisal Condition/Health & Safety Issues to Watch For!

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Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting […]Read More

Appraisal Conditions and Health & Safety Issues to Watch For!

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Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting […]Read More

Appraisal Condition/Health & Safety Issues to Watch For!

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Realtors are often frustrated about “condition” and “health & safety” issues that get called out by appraisers, and they come to us for guidance. They obviously want to avoid getting […]Read More

“Save This Deal, JVM!” Appraisers Can’t Ignore Glaring Issues

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We got an email from a Realtor that said: “Save this Deal, JVM.” I point that out b/c we get similar emails every week b/c rookie loan officers at other […]Read More

Condition: Old, Tired, Worn Is OK; Health/Safety/Structural Not OK

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We recently had a Realtor call us about a property that was formerly used for the “production of medicine” (aka a pot farm). He asked whether the appraiser would call […]Read More

How Property Condition Can Delay Escrow—and How to Avoid It

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Appraisers must call out obvious property issues and referenced reports, which can delay closings. Here’s how to prevent surprises during escrow.Read More

Escrow Holdbacks/Post Closing Repairs OK At Some Lenders

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Some lenders allow escrow holdbacks for post-closing repairs, which can be a helpful solution for properties that need work before being fully completed. While most lenders do not permit these holdbacks, we work with several investors who do, making this a viable option for borrowers in certain situations.Read More

Property Condition? What Is “Lendable?”

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Properties can be very "tired" looking and still get financing (with repair requirements). Very old appliances, worn counters, worn floor coverings, dated decor, old roofs, faded paint, a few holes in the carpet and even walls are all "OK." As long as there are no major and visible structural issues (clearly leaky roof, undulating floors b/c of foundation issues) or health and safety issues (peeling lead paint, missing floor coverings, exposed electrical wiring, etc.), properties can get financing without issue. The key is to make sure the MLS, the contract, and all other on-line information resources are scrubbed of all references to property issues or defects.Read More