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Delaware County, Pennsylvania Real Estate Blog

How to make the FHA Appraisal Process Smoother

Are you a homeowner who is thinking of selling your home in the near future?  Well take a moment to read this post by Keith Landis a Pennsylvania Mortgage Loan Officer.  Since you may have a buyer using FHA financing it would be in your best interest to ensure you address these items on the lists in this article prior to putting your house on the market.

Thank you Keith!

 

FHA appraisals are known to be pickier than appraisals for Conventional loans.  The FHA requires that a property meet minimum property guidelines in order to consider a property acceptable for FHA financing.  The home buying process can be made smoother if the home is properly prepared for an FHA appraisal inspection prior to the arrival of the appraiser.  Making sure the property will not need any repairs will also prevent the appraiser from having to visit the property again for a Final Inspection.  Appraisal final inspections cost money and the timeline of completing this final inspection may interfere with the targeted closing date.   Below are some tips…

 

 

Prepare the Property

 

  1. Make sure all the utilities are on and working. 
  2. The appraiser will need to access the attic and/or crawl space.  The appraiser will need to view and photograph this area. 
  3. All rooms must be fully accessible.   The appraiser will not move any items to gain access to any room.
  4. Any outbuilding (garage, shed, barn, etc) must also be accessible.
  5. Provide permits for any recent structural improvement. 

 

 

Common Property Repairs for FHA Mortgages

 

  1. Plumbing Leaks – The appraiser will check the faucets, run the water and look for any leaks.  Water damage marks on ceilings may get flagged for further inspection to make sure they are not caused by an ongoing leak.
  2. Broken or cracked windows
  3. Exposed or damaged electrical wires
  4. All rooms must have adequate heating
  5. Any interior or exterior stairs with more than three steps must have a handrail
  6. Foundation cracks
  7. Homes older than 1978 may have lead paint.  Any chipped or peeling paint requires repair (scraping, repainting, proper disposal of any paint chips).
  8. Exterior wood must be stained or painted

 

 

 

 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Keith Landis is a Licensed Mortgage Loan Officer covering all of Pennsylvania.  He can be reached toll free at 877 334 6094 or on his cell at 412 726 1654 or by email at klandis@keystonehomefinance.com 

NMLS # 137243

further information can also be found here....

 

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****************************************************************

Doug Durren and Gloria Todor, Realtors®, SRES® 

CENTURY 21 ABSOLUTE REALTY
512 Baltimore Pike, Springfield, PA 19064

GloriaTodor@Century21.com

Gloria 484-431-3686

610-328-4300 x131 Office

 Serving Delaware County, Montgomery County, Chester County, Pennsylvania & Surrounding Areas 

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How to make the FHA Appraisal Process Smoother
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