Deferred Maintenance
Definition of "Deferred maintenance"
Factor in real estate appraisal. A type of physical depreciation owing the lack of normal upkeep, such as broken glass and doors and discolored paint that negatively impacts the value of property.
Popular Real Estate Terms
Also called an installment sales contract or contract foe feed. A type of creative financing in real estate allowing the seller to finance a buyer by allowing him or her to make a down ...
Government official who values real estate property for tax purposes and ascertains the annual property tax assessments that must be collected. ...
A lease granted for the right to explore for and recover oil and gas on a specific parcel of property. The terms of an oil and gas lease specify the length of time of the contract, the ...
Determines the ability of soil to absorb and draw down water. A percolation test is essential to determine the location of a drainage field for waste disposal. ...
The Grandfather Clause is an intriguing financial and real estate term. It defines a provision in a traditional policy that exempts an individual or business engaged in any activity under a ...
Legal proceeding whereby a person's property is attached and used to pay an obligation. The employer may withhold part of the employee's salary to the court until the debt has been paid. ...
Contiguous shore area bordering a river that is subject to periodic water level increases. In the flood stage, the flood plain can be under water. ...
(1) Bracket used to support an extended eave or cornice on the outside of a house. (2) Truss or beam projection beyond its base and supported by its strength and rigidity, such as a ...
The meaning of the term tort outlines a wrongful act resulting in injury or damages. For example, trespassing on someone’s private property can end up destroying a part of it. ...
Comments for Deferred Maintenance
The appraiser didn't do the deferred maintenance on my house and lie like they did. What can I do about this?
Sep 08, 2018 20:18:21Hey Betty,
Sep 10, 2018 16:29:22Thanks for reaching out!
When you say he didn't do, you mean he didn't "measure the value of it"? Because appraisers are not supposed to do any maintenance to the house themselves - only calculate the value of the house - and the deferred maintenance is one of the factors of this calculation. But, anyway, we suggest you talk to your real estate agent and maybe even call a real estate lawyer to see what you can do in this situation. Good luck!
Have a question or comment?
We're here to help.