Understanding what a health and safety risk is, is the first step to ensuring that you don’t have to pay an additional fee to have the appraiser come back when your home lender requests a re inspection. The questions that homeowners should ask themself, are as follows? If its a loose wire or an open electric box? (It’s a health and safety issue) If there is a big whole in wall or a big stain from a leak? (It may be considered a health and safety risk.) If it’s something an appraiser will question it may may be a health and safety risk.) If a door leads to a drop and its not safe then it may be considered an health and safety issue, if there is a big crack in the stucco, the wall, or the ground in a room shows signs of a foundation crack, if there is signs of mold in a corner of the garage, or the cats odor is very over bearing; these all may be considered a health or safety risk. It is the job of the appraiser to identify anything that is readily visible or observable. There are so many things that can or may be considered observable, and sometimes classified as a health and safety risk, which is up to each individual appraiser’s discretion.
So the easiest way to ensure your home is ready for an appraiser is to walk through it, is if you were an appraiser.. If you see any of the things that were described above or you see something that looks out of place, then know the appraiser will notice it too. These things that are “observable” and may be required by the lender to be identified because they impact “value”. Luckily, not everything is a health and safety risk, however simply putting on electrical caps as required by law, or fencing areas that maybe unsafe, can save you your loan and the cost of having to have an appraiser come back twice after the safety issue is fixed. Many lenders will require all health and safety risks be addressed prior to them agreeing to loan on a property. If you have mold in a corner, rotten eaves, an empty pool with no fence, or you never repaired the ceiling after you had the roof replaced, besure to make the repair, prior to having the appraiser over, or be prepared to explain it.
A loan is easy to qualify for, as long as you make sure your home is ready to go for the appraiser, and of course, you’ve pre-qualified with the lender.
As noted earlier, an appraiser is required to report any items that may impact value, and know the appraiser is required to look in every room in the house, so no hiding things. Your preparation, your personal walk-through, and consideration of what may be considered a health and safety risk will make you ready for the appraisal and the appraiser when he/she arrives.