Fha Appraiser Requiring Siding Be Replaced

Two of the exterior walls were particularly bad.

Fha appraiser requiring siding be replaced.

Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances. Appraiser requirements to observe analyze and report appraisers requirements spelled out in one place clearly. If you use an fha loan to buy a house the property will have to be appraised and inspected by a hud approved home appraiser. 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.

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. For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. For example fha appraisal requirements call for the home to be appraised and inspected by an fha approved appraiser. Components of appraisal guidance property requirements fha requires underwriting of property condition as well as valuation.

This page was updated in january 2020 and to include the latest information on fha appraisal guidelines and requirements for 2020. 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. This person must follow stricter standards set by the government. An appraiser will observe the property s condition during the required property appraisal and report the results on the fha s appraisal form.

We cover those requirements and how they compare to conventional appraisals. I searched this topic but failed to find anything relevant. 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.