Can someone please state some basic guidelines on what criteria would put a home in average, fair, or poor condition on an appraisal?

Nick, This is also something I would like to see. Anyone know of any source or guidelines pertaining to CONDITION of home?

Basically...you can make the conditions yourself. I sometimes use average and good interchangedly. The banks don't like it when you put poor and will sometimes ask you to change it. I save poor for something that is basically a tear down. If there are a good amount of repairs needed then I would put Average - and then rate the comparables as being Similar, Superior or you can put Average +. You can also use Good even if the property is dated but with no repairs needed. I usually keep Good for Higher End homes...700k+ to 2.2mil. Once you get past the 2.2 mark then I will either keep Good or in some cases with Great Quality Finishes...I will put Excellent.

I've got a detailed report writing program that I've put together that explains how I do it. I think I might have the chapter on condition in the video demo. If not the video might be on adjustments but you might find a little more detail there. Just go to my website area48network. com. Hope this helped.

It depends on how it compares with other properties in the market area. It could be an ugly 30k home, but if is is better than most of the properties in the area you would put "good." If it is a gorgeous $10,000,000 mansion, that is inferior to the other homes in the area you would put "below average." I always put in "average (or good etc...) FOR THE AREA" in the report so there is no confusion about what is meant.

Average Condition
Subject is in overall average condition. No functional obsolesence of a curable or incurable nature was noted. The following items have recently been updates xxxxxxxxx,


Fair Condition
You must describe the home good and bad. Avoid opinions, try to stay factual.

For example
The roof looks terrible I would replace it NO

The roof appears to be near the end or at the end of its physical life.

Can someone please state some basic guidelines on what criteria would put a home in average, fair, or poor condition on an appraisal?

I'm not having any idea about home condition! Sorry dear!

We have to consider the followings:
1. there should be atleast 2 bedrooms with a bathroom & a kitchen in a home.
2. The roof conditions have to be fine
3. Door & window have to be with good conditions
4. The floor has to be with good condition
5. You have to check the water line
6. As well as the electricity line, gas line etc too

For more idea, you can do google too :)

Mike is correct and the points mentioned by him are very important to be taken care of. The house should be in a good condition and everything mentioned should be true about the house.