FHA Appraisal Checklist with FHA Loan
If you are using a FHA loan to buy a house, one of the contingency is the property must pass a FHA appraisal. The FHA appraisal has 2 jobs: to determine the current market value of the property and the to make sure the house meet certain safety standards by FHA guidelines. Here is the list of items a FHA appraiser may look for during appraisal process with FHA appraisal checklist.
General Health & Safety
- Foundation or structural defects
- Whether the utilities all work (water, sewage, heat and electricity)
- Chipped or peeling paint in homes built before 1978
- Incomplete renovations
- Water damage
- If the property is accessible to vehicles, especially emergency vehicles
- Exposed wiring and uncovered junction boxes
- Whether the property is too close to outside hazards, such as leaking oil tank or a waste dump
- Excessive noise, such as being close to an airport
- Missing handrails
Exterior
- Leaky or defective roof and holes in the siding
- Leaning or broken fencing
- Doors that do not properly open or close
- Conditions of gutters, chimney, stairs, railings and porches
- If swimming pools are up to code
Every Room
- Whether each room has electricity
- Whether each room has a window or door to the exterior to be used as a fire escape
Kitchen
- Missing or broken appliances usually sold with a home, including stove and refrigerator
- Broken or leaking sink
Bathrooms
- Broken or leaking toilet, sink or tubs/shower
- No ventilation (either exhaust fan or window)
Crawl Space or Basement
- Basement moisture
- Evidence of past or present standing water
Heating & Plumbing
- Inoperative HVAC
- Major plumbing issues and leaks
These are some common items that FHA appraiser is looking for, but other issues that might make a house unsafe could keep it from passing. A FHA appraisal is not the same as independent home inspection. It is still a good idea to get a separate home inspection to make sure you are making a wise investment.
Swee Ng, Realtor and Phoenix East Valley resident specializing in win-win real estate transaction through great communication and fighting for his clients’ best interest. After all, this is more than real estates, this is about your life and your dreams.
If you are looking to buy or sell your home in Phoenix AZ and surrounding area, we hope you will consider us. Contact us today for complimentary consultation.
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