Fha Appraiser Requiring Siding Be Replaced

For example fha appraisal requirements call for the home to be appraised and inspected by an fha approved appraiser.

Fha appraiser requiring siding be replaced.

An appraiser will observe the property s condition during the required property appraisal and report the results on the fha s appraisal form. 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. Similar to conventional home loans fha loans feature fha appraisal requirements mandated by the hud. I searched this topic but failed to find anything relevant.

Components of appraisal guidance property requirements fha requires underwriting of property condition as well as valuation. I could even push my finger into portions of it. For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. The fha fee appraiser is not required to enter crawlspaces walk on roofs or perform other duties for which they have no specialized equipment or safety gear for that s something to discuss.

Property appraisals are one of the many requirements. We cover those requirements and how they compare to conventional appraisals. This page was updated in january 2020 and to include the latest information on fha appraisal guidelines and requirements for 2020. 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.

Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances. Two of the exterior walls were particularly bad. Fha appraisers are not required to be specialists in any one particular area an appraisal is a multi faceted more general process than a home inspection.