When an appraisal is completed on a property you want to purchase or you are refinancing on, sometimes appraisers might list items that are recommended to be repaired or fixed. Banks called them “deferred maintenance”. Don’t assume all these items are required to be fixed or repaired before you can get a home loan. In most cases, only items that considered causing safety or health issues are required to be repaired, replaced, or installed. For example, if there are exposed wires hanging in the ceiling, someone might be electrified by accident. Another example is a swimming pool in the backyard that is not filled with water, someone might fall into it and get hurt. These items in no doubt are required to be taken care of before banks lend you the money. However, items such as worn out carpets or missing cabinets, those items usually don’t require to be repaired. They are referred to as “cosmetic items”. Nevertheless, most banks do require appraisers to at least provide us an estimated cost to repair these items (referred as “cost to cure”) reflected on the appraisal. As long as the property value already reflects cost to repair, you should be good to go.