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Appraiser finds chipping, peeling paint but will not disclose location

With all the things that could go wrong in Real Estate, I wish this was problem someone would step up and correct.

I found the perfect income property for this buyer.  It was a 3 family unit in the location she wanted.  A historic home with all the appeal of a Victorian mansion.  The buyer intended on living in one unit while renting out the other two.  The first and second floor were almost identical.  At over 1500 square feet with three bedrooms and a bath and a half each, this was a rare find.  To top it off the Seller remodeled homes for a living and this was his private residence.  He speared no expense.  All the original woodwork was restored, including the hardwood floors, and he choose light fixtures to imitate the early 1900’s era.  The property was a real find.  The curb appeal was second to none.  A blend of ruby red and emerald green accents to highlight the new siding, roof and gutters.  Real Estate like this is hard to find.  I knew this was an FHA loan so I carefully looked over the entire home for chipping and pealing paint.  FHA appraisers can be real sticklers in this area.  Other than a crack in the hallway ceiling the place looked great.

As you would have guessed, the FHA appraiser noted chipping and pealing paint.  I already talked to the Listing Agent and the Seller.  We all agreed it has to be the hallway.  You know what a pain it is to paint those tall hallways.  The Seller got the job done and we informed the appraiser who made a second trip.  The result was the same.  The appraiser noted chipping and pealing paint.  Now the point is, the appraiser is charging the Buyer $100 for every return trip. The appraiser did not indicate or give a clue as to where to find the peeling paint.  The Listing Agent, Seller, Buyer and myself met at the home and went through every room.  There was half a wall in the basement painted.  No chipping paint, but the entire basement was painted.  Two of the windows showed a small section of bare wood, so they were touched up.  We scanned over every inch of the exterior and found nothing.  Satisfied every base was covered, we had the FHA appraiser come for a third trip. The appraiser declined to come to the meeting we had at the home.  It seemed the FHA appraiser liked playing a guessing game.  Maybe he wanted to retire from this job?

On the third inspection the FHA appraiser cited chipping and peeling paint again.  We were at a loss.  There was nothing more we could find.  We met at the house again and went over every inch, taking dozens of pictures and sending them to the Lender.  The Lender was able to obtain a management review of the file.  Faced with the pictures the FHA appraiser was forced to go to the home to provide pictures and exact locations of the chipping, peeling paint.  Of course he charged another $100 to take the picture.  Yes one single picture of a window in the kitchen.  We went to the house to look at the window.  It was not paint at all but a half inch piece of silicone caulk in the corner of the window.  The Seller went to his truck, came back with a razor blade and trimmed the caulk.  One more trip to verify and another $100 for the FHA appraiser and the loan was approved for a closing.

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