Fha Appraisal Holes In Siding

Holes in the roof or siding.

Fha appraisal holes in siding.

The fha requires that loans must close within 120 days of the appraisal and the original appraiser must return to the property within this timeframe to confirm that any necessary repairs have been made. I could even push my finger into portions of it. This is one of the biggest hot spots for an fha appraiser and rightly so. Driveway or sidewalk damage.

Similar to conventional home loans fha loans feature fha appraisal requirements mandated by the hud. This discovery process is similar to the appraiser s job in the basement the appraiser inspects the condition of the area and makes the appropriate observations. Not a problem where the paint is in good shape but where it could possibly be ingested even on outbuildings. Serious issue possible fha concern this wood rot found just below the roof is caused from rain water or ice build up in the winter.

For an fha loan in addition to placing a value on the property the appraiser is looking for several potential hazards that could cause safety issues. For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. According to the 2020 fha appraisal guidelines all properties being purchased with an fha insured mortgage loan must be appraised by a licensed hud approved home appraiser. If you re trying to buy a house using an fha loan your fha lender will typically require an appraisal to validate the value of the home.

Overview of fha appraisal guidelines for 2020. I found one of the exterior walls had. Visually inspect the subject property both inside and out. Possible fha concern the brick on the side of this garage has had some serious movement.

Two of the exterior walls were particularly bad. Call a professional to evaluate. For that matter asbestos potential in a popcorn ceiling that s falling down or in old cracked siding could also be an issue. Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances.

At a minimum the appraiser must complete the following steps. We cover those requirements and how they compare to conventional appraisals. Any noticeable holes water damage or other problems are also noted. Any leaks or moisture due to a problem with the roof are noted will be noted on the appraisal report.