This week's article is about an actual real estate experience recently encountered with a sidewalk in need of repair. Both buyers and sellers should take note.
As most Bendites know, there are a lot of sidewalks uprooted by tree roots in Bend. Replacing the damaged section with a new sidewalk is only a temporary fix, as is patching the cracks, because as long as the tree is there, it will continue to raise the sidewalk. If the homeowner wishes to remove the tree, then they probably need to obtain a permit to do that because the tree is likely in the public right of way. Replacing a sidewalk panel also requires a permit, which will cost you $600, even before you start doing repairs.
The situation encountered this week could have been a deal breaker. Some first time homebuyers were all approved for financing by their lender, had a professional home inspection, so the next step was to order an appraisal. The appraisal came in at the purchase price value, but the appraiser made a comment about the sidewalk being in need of repair and recommended repairs be made. When this comment was seen by the lender, they could not ignore it. Two weeks prior to closing, we received notice that repairs had to be made before loan documents could be issued. This literally gave the sellers one week to complete the repairs, making it difficult to find a contractor on such short notice. This was totally unexpected and a shock to all parties.
So, in case this is a new trend in appraisals or if you have the fortune of getting this same appraiser, be aware this could be a last-minute surprise if the sidewalks are in need of repair.
1565 SE Bear Creek Rd., Bend, OR 97702
3 beds, 2 baths, 1,448 square feet,
.32 acre lot | Built in 1966
Listed by Century 21 Gold Country Realty
60882 Garrison Dr., Bend, OR 97702
3 beds, 2 baths, 1,644 square feet,
.14 acre lot | Built in 2005
Listed by RE/MAX Key Properties
3425 NW Fairway Heights Dr., Bend, OR 97701
4 beds, 4 baths, 4,014 square feet,
.23 acre lot | Built in 2010
Listed by Bend Premier Real Estate
Photos and listing info from Central Oregon Multiple Listing Service