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
Distance from the location of natural ground and water to the actual ground level. ...
Appraisal of a location before the purchase is made of it for potential environmental problems. ...
Rainwater pipe attached to a roof gutter channeling the run off down and away form the building. ...
Incapable of performing duties because of a lack of knowledge and training. The individual may not possess the qualifications and credentials. For example, a prospective buyer of real ...
Timeshare homes is the popular name given to the concept of fractional ownership in real estate, and, in fact, is a better term to explain its meaning.Why?Well, fractional ownership means ...
The right to deviate from the use of land prescribed by an existing zoning ordinance. ...
A statistical procedure using a body of measurable independent variables to compute an equation that successfully measures and forecasts the variance in another variable, the dependent ...
The right to allow livestock to graze on a certain range or grazing lands. Grazing rights can be obtained through a lease or by contractual agreement stipulating the period of time and the ...
When we’re talking about debt service, we refer to the amount of cash required to cover the debt’s repayment of both the interest and the principal for a certain period of time. ...
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.