Excellent list of items the FHA appraiser will look at during their inspection. My wife is ALWAYS asking me "what about this" for required repairs. I would add to your list and probably the most important requirement are smoke / carbon monoxide detectors to be installed on each level of the home in the area adjacent the bedrooms and every bedroom within 3' of the door. There is an exception for carbon monoxide detectors where the home is all electric, no fireplace or attached garage, then no CO detector is required. 40+ years in construction, expert witness residential construction, home inspector and college teacher certifying home inspectors. Thanks again for the video !!!
First time home buyer… I wish I would have known all of this before I got to the appraisal part of my refinancing loan. Idk if I should be upset with myself for not doing the research first, or the mortgage lender for letting me get this deep into the process. I’m going to have to cancel the whole thing sadly.
FHA will also not loan on manufactured older than 1976 or 1978. There is a cutoff date in other words. The manufactured / mobile home also need to be anchored to a foundation system or a retrofit. This could cost as much as $6k and can be paid out of escrow by the seller and / or negotiated. USDA will not loan on any manufactured home older than 1 year.
my friend bought a fha home about 2 yrs ago within the first 3 months or big rain the roof leaked the plumbing leaked and their insurance cancelled them they need help and some direction on what to do fha doesnt even talk to them its a bad situation
After you close on the house, it becomes your responsibility to fix any problems with it. Unfortunately, it is going to be at the cost of the homeowner to fix these issues now.
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Excellent list of items the FHA appraiser will look at during their inspection. My wife is ALWAYS asking me "what about this" for required repairs. I would add to your list and probably the most important requirement are smoke / carbon monoxide detectors to be installed on each level of the home in the area adjacent the bedrooms and every bedroom within 3' of the door. There is an exception for carbon monoxide detectors where the home is all electric, no fireplace or attached garage, then no CO detector is required. 40+ years in construction, expert witness residential construction, home inspector and college teacher certifying home inspectors. Thanks again for the video !!!
How long to correct the issues reported?
Thank you for the 411!
You’re welcome!
So appliances have to be there I keep seeing mixed reviews on this. Some saying they only have to be present if they are built in appliances.
First time home buyer… I wish I would have known all of this before I got to the appraisal part of my refinancing loan. Idk if I should be upset with myself for not doing the research first, or the mortgage lender for letting me get this deep into the process. I’m going to have to cancel the whole thing sadly.
FHA will also not loan on manufactured older than 1976 or 1978. There is a cutoff date in other words. The manufactured / mobile home also need to be anchored to a foundation system or a retrofit. This could cost as much as $6k and can be paid out of escrow by the seller and / or negotiated. USDA will not loan on any manufactured home older than 1 year.
Very informative, thank you! We just had our offer accepted yesterday. How often do FHA inspections and appraisal make a sale fall through?
Congrats on the offer acceptance. We usually don't have issues on appraisals with repairs as long as the realtors are experienced and knowledgeable.
Can this be done for VA loans as well?
Great question - let me research this and see if I can find out.
my friend bought a fha home about 2 yrs ago within the first 3 months or big rain the roof leaked the plumbing leaked and their insurance cancelled them they need help and some direction on what to do fha doesnt even talk to them its a bad situation
After you close on the house, it becomes your responsibility to fix any problems with it. Unfortunately, it is going to be at the cost of the homeowner to fix these issues now.