Ive always put missing appliances in the repairs section. Today I get QCed for the first time with this...

"Under repairs, you have listed missing appliances. Missing appliances are not repairs. They are just items not provided. Please remove repair costs for the missing appliances and change the damaged condition for appliances to average or better."

What I also dont understand, is that i listed the missing repairs in the repair addendum under the appliance section!

thats BS...I have been told to list them...is it EML?

I completed an order last week for EML on a duplex. The stoves and frigs had been removed....As this is rental property, a refrigerator is included with the property. I tagged it for $2,200 and it flew through QC.

Dishwashers, stoves and built in microwaves get mentioned if missing under repairs. Fridges do if they are in rental units, not if are missing from a SFR. I think you got ahold of a rookie QC person.

I always list the oven/range, take a picture of it...never a fridge.

On a single family detached, I never adjust for frig. On duplexs, triplexs, and up, it's part of the rent.....just my 2 cents......

There is no consistency. A stove does not generally convey with a property, but EML QC'd me last week for not including the replacement cost in the repairs.

I never put refrigerators as real estate as they aren't and in this are they, as well as washers and dryers, are often not included in rentals.

FHA loans require a working stove or built-in microwave oven so it's a necessary repair.

Buyers in my area expect homes to have a frigs and stove, at a minimum.

Sold a home last month with an FHA loan and no oven/range or anything to cook with.

The appraiser didn't do his job on that one. FHA and VA requires a store or microwave. Does not require a frig. A frig may convey with a house and be expected to be present in many areas of the country, but they are not real estate.

I always list missing appliances. Not always a fridge though some buyers have their own. But missing stove, diswasher, compactor, etc. yes. Its stupid for QC to say not to include no appliances as repairs.

The comp has beautiful stainless appliances. The subject has none. So the value is equal? Not only that, many high end homes have mathced builtins and very expensive ranges. How about a missing a/c unit?
Garage door opener? Wait till they say a missing furnace is not a repair item.

You know this to prop values because homeowners are loosing their equity daily in this market.

Appliances are "not" considered part of Real Estate in Ohio. They are personal property. So we don't include them.
Most Appraisers will not even give value for them because it is personal property.
If a buyer fails to include appliances including microwaves and dishwashers in a contract, then they could not be ther when they move in as they are the same as taking a TV that is hanging on a wall, or surround sound speakers.

There are no requirements on any property that it must have a fridge etc. I would be surprised if Building codes stated a property had to have a fridge. FHA loans DO NOT require appliances to be in a home when financed.

How do you "repair" something that is not there?

If you put a value of $500 for a stove, why not put $100 and say used stove because that is what most houses come with????

Thats fine, but one house has them, the other doesn't. Cleary an adjustment needs to be made there.

You repair something that is not there by replacing it. If a heating system or plumbing is missing it's repaired by replacing.

Travler, I agree. We adjust for differences in value. In this area a fridge isn't generally conveyed with a property unless built in. However, unless a buyer is using a 203K loan, if it's an FHA 203B than no stove equals no loan. Yes, one can sell with missing appliances, but given that the primary financing right now is FHA, the exclusion of that buyer category will exert a higher impact on value then the actual cost to cure. Incidently, that's the comment I use when this situation arises. QC can accept that or stick it, but I won't change it. Most of us can match our years of experience against a newbie QCs check list any day. Stupid can't be cured so we just have to learn how to deal with them.

I am just going off our local customs and my 10 years experience. If you look at all the FHA appraisals being done even for the HUD homes you will see thay do not require a buyer to escrow for the appliances if they are not there, which most times they are not. I agree that sometimes we just give the client what they want, but in reality that may not be the way your market works.

Doesn't this fall into the real versus personal property argument? One of the considerations used to be would removing it damage the property (such as a built in microwave or dishwasher).

Another consideration would be local customs. In this market, range, dishwasher and micro are generally left, but fridge and washer & dryer are not. When I worked in SOFLA, the fridge was almost always included and often a washer & dryer were also included.

I always list for missing, damage or replacement appliances in the repairs section. In our area they are going to list it in the contract anyway as a must (don't mean they will get it).

We are not doing brain surgery nor are we doing a full appraisal. We are given a broker price opinion.....an "opinion." It's not an exact science.

Keep in mind we are not appraisers. I am one, but inactive...it's a different animal.

You don't have to make adjustments for every item. If you consider HVAC size, general condition, presence and condition of major repair items such as paint, flooring, HVAC system, roof, wood decay, structural issues, garage, and mold and make general adustments for those, you will have your "opinion." I don't even consider when when one house has a $500 frig and the subject does not. You probably are farther off than the 0.1% to 0.5% that the frig will contribute to the value of the subject.

Besides, often the refrigerator is ripped off long before the property goes to market.

I do make a comment if built-in appliances, hot water heater, stove, dishwasher, etc. are missing. Photos will show if there are non-real estate appliances present.

If you are spending more than about 30 to 40 minutes doing a bpo, you are taking way too much time.

[quote=Gig em]The appraiser didn't do his job on that one. FHA and VA requires a store or microwave. Does not require a frig. A frig may convey with a house and be expected to be present in many areas of the country, but they are not real estate.

[/quote]

FHA does not require a stove in their Minimum Property Standards UNLESS it is a built-in unit. In some areas it "may" be required if it is normal and customary for stoves to be included in the sale of real estate. The appraisers have some subjective latitude on this issue. However, it is not a hard requirement that stoves are included.

Yes I do. Good condition means with at least oven range.