December 30, 2019 at 11:14am | Jeff Hallman
Pre-building permit era...still standing...but read further for what you can learn about this situation. This is one of AGENT509's favorite photos shot last winter up Badger Mountain area on a house we sold. Interesting to note, that the Buyer used an FHA loan, which in the appraisal process, required this old barn to be stained and/or painted prior to the sale...even though it was not the living part of the asset (i.e. home) the loan still required this stain/paint to be done. This is an example of "not" being prepared to sell, as once you're on the market and accept an offer, and you are not aware of the potential issue, and weather being as it is, not all barns or homes can be painted (cold weather) and not all loans will accept a holdback, which is 1.5X the cost to paint or fix the issue...thus, this can totally kill a deal. Now 10 years ago, this issue would have never come up...but today, it's one that sneaks in as a condition of an FHA loan. Have a great day, all the best!

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