Comments on: FHA Appraisal Issues http://agbeat.com/editorials/real-estate/fha-appraisal-issues/ News, insights, tools, and inspiration for business owners and professionals Fri, 10 Feb 2012 15:13:36 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Jen http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-103119 Jen Fri, 15 Jul 2011 04:07:02 +0000 http://agentgenius.com/?p=14027#comment-103119 Hello my name is Jen and I am in the process of getting a FHA 203(k) loan for a home in Pennsylvania and we have already had the home inspection done and it didn't go that well. I was just wondering if there is anyone that can let me know what do the appraisers look for. I am working with the sellers to get everything fixed before the appraisal but some of the issues found during the inspection just seem like a joke. For example, the wax ring on the toilet and caulking around the tub. I just want to know what would and wouldn't need to be fixed before the appraiser goes in and we lose the loan and house. Please help me I need to know what to do so we don't lose this house, I really don't have time to go back to square one. I am living in Michigan right now homeless (staying with family) with my two sons and my husband is in Pennsylvania staying with family. I just want this appraisal process to go as smooth as possible. So my family can have a house together. Thank you so much Jen Please email me with any info on appraisals anyone can dig up jen_pre@live.com Hello my name is Jen and I am in the process of getting a FHA 203(k) loan for a home in Pennsylvania and we have already had the home inspection done and it didn’t go that well. I was just wondering if there is anyone that can let me know what do the appraisers look for. I am working with the sellers to get everything fixed before the appraisal but some of the issues found during the inspection just seem like a joke. For example, the wax ring on the toilet and caulking around the tub. I just want to know what would and wouldn’t need to be fixed before the appraiser goes in and we lose the loan and house. Please help me I need to know what to do so we don’t lose this house, I really don’t have time to go back to square one. I am living in Michigan right now homeless (staying with family) with my two sons and my husband is in Pennsylvania staying with family. I just want this appraisal process to go as smooth as possible. So my family can have a house together.

Thank you so much
Jen
Please email me with any info on appraisals anyone can dig up
jen_pre@live.com

]]> By: TJ http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-102551 TJ Tue, 12 Jul 2011 12:34:59 +0000 http://agentgenius.com/?p=14027#comment-102551 I'm a seller and the buyer has been trying to get an FHA loan for months. First, the FHA appraiser came back with a laundry list of fixes. Foundation, electrical, plumbing....you name it, they wanted something done to it......and the house is a good, solid one. Thousands of dollars and work later, everything was submitted to FHA's appraiser again. Guess what. A new laundry list which included points like: you did not use a licensed structural engineer. Ha! We did, and the licensed structural engineer even did work for other FHA appraisals and received approval! Instead of just certain electrical repairs, FHA is calling for a full house electrical inspection and repair. I could go on and on. The bottom line is that I am tired to trying to satisfy FHA. I will not be selling to anyone who hopes to obtain an FHA loan. FHA, if you're listening, you are CAUSING our housing crisis. You are keeping good buyers from purchasing good houses. WAKE UP! I’m a seller and the buyer has been trying to get an FHA loan for months. First, the FHA appraiser came back with a laundry list of fixes. Foundation, electrical, plumbing….you name it, they wanted something done to it……and the house is a good, solid one. Thousands of dollars and work later, everything was submitted to FHA’s appraiser again. Guess what. A new laundry list which included points like: you did not use a licensed structural engineer. Ha! We did, and the licensed structural engineer even did work for other FHA appraisals and received approval! Instead of just certain electrical repairs, FHA is calling for a full house electrical inspection and repair. I could go on and on.

The bottom line is that I am tired to trying to satisfy FHA. I will not be selling to anyone who hopes to obtain an FHA loan.

FHA, if you’re listening, you are CAUSING our housing crisis. You are keeping good buyers from purchasing good houses. WAKE UP!

]]> By: Ben Goheen http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-69171 Ben Goheen Tue, 28 Sep 2010 00:55:33 +0000 http://agentgenius.com/?p=14027#comment-69171 Dave: FHA guidelines don't state that a deck is required. I understand your question and it seems like there should be one if there is a patio door. However, often times in my area new homes are built without one to save money and the homeowner will build it later if they wish. The stop in the door track prohibits a person from opening the door and falling 10-15 feet to the ground, which is a general safety issue. I just inspected a home today for an FHA loan where there was an upper lever door with a huge drop: twitpic.com/2sngdn Dave: FHA guidelines don’t state that a deck is required. I understand your question and it seems like there should be one if there is a patio door. However, often times in my area new homes are built without one to save money and the homeowner will build it later if they wish. The stop in the door track prohibits a person from opening the door and falling 10-15 feet to the ground, which is a general safety issue.

I just inspected a home today for an FHA loan where there was an upper lever door with a huge drop: twitpic.com/2sngdn

]]> By: Dave Fife http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-69104 Dave Fife Mon, 27 Sep 2010 07:24:39 +0000 http://agentgenius.com/?p=14027#comment-69104 So in your article example of the patio block stop, does this disqualify it for an FHA loan, if it is impossible to open that patio door, while the block stop is in place? It seems that the missing balcony/deck interferes with the functional usability of the property. To me it would seem intuitive that the home missing the rear deck would be ineligible for FHA. So in your article example of the patio block stop, does this disqualify it for an FHA loan, if it is impossible to open that patio door, while the block stop is in place? It seems that the missing balcony/deck interferes with the functional usability of the property. To me it would seem intuitive that the home missing the rear deck would be ineligible for FHA.

]]> By: AgentGenius http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-85384 AgentGenius Thu, 12 Aug 2010 01:19:52 +0000 http://agentgenius.com/?p=14027#comment-85384 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">#agnow If you even need to ask then you should, and you should anyway even if you didn't ask. Inspections are desig... http://bit.ly/bzVlao</span></span> #agnow If you even need to ask then you should, and you should anyway even if you didn't ask. Inspections are desig… http://bit.ly/bzVlao

]]> By: AgentGenius http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-85385 AgentGenius Thu, 12 Aug 2010 00:55:49 +0000 http://agentgenius.com/?p=14027#comment-85385 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">#agnow i am currently looking at a home that appears to have about a three inch water mark in the upstairs hallway ... http://bit.ly/bzVlao</span></span> #agnow i am currently looking at a home that appears to have about a three inch water mark in the upstairs hallway … http://bit.ly/bzVlao

]]> By: Benn Rosales http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-66328 Benn Rosales Wed, 11 Aug 2010 21:19:50 +0000 http://agentgenius.com/?p=14027#comment-66328 If you even need to ask then you should, and you should anyway even if you didn't ask. Inspections are designed to illuminate problems before risk is taken by all parties, including FHA. If you even need to ask then you should, and you should anyway even if you didn’t ask. Inspections are designed to illuminate problems before risk is taken by all parties, including FHA.

]]> By: Marc http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-66323 Marc Wed, 11 Aug 2010 20:43:20 +0000 http://agentgenius.com/?p=14027#comment-66323 i am currently looking at a home that appears to have about a three inch water mark in the upstairs hallway but the owner of the home no longer lives in the country. I will be going with an fha loan but im not sure how picky they will be with this. the owner stated he will not be returning and will not be able to fix anything. I cannot see any visable damage in the attic or anywhere around else. Does anyone think its even worth spending the money on the inspection if im going with a fha loan? i am currently looking at a home that appears to have about a three inch water mark in the upstairs hallway but the owner of the home no longer lives in the country. I will be going with an fha loan but im not sure how picky they will be with this. the owner stated he will not be returning and will not be able to fix anything. I cannot see any visable damage in the attic or anywhere around else. Does anyone think its even worth spending the money on the inspection if im going with a fha loan?

]]> By: AgentGenius http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-85386 AgentGenius Sat, 13 Mar 2010 08:36:57 +0000 http://agentgenius.com/?p=14027#comment-85386 <span class="topsy_trackback_comment"><span class="topsy_twitter_username"><span class="topsy_trackback_content">#agnow I'm pretty sure appraisers are evil (sorry, just read Gwen's last article and she got me in this mood). I do... http://bit.ly/bzVlao</span></span> #agnow I'm pretty sure appraisers are evil (sorry, just read Gwen's last article and she got me in this mood). I do… http://bit.ly/bzVlao

]]> By: Nashville Grant http://agbeat.com/editorials/real-estate/fha-appraisal-issues/#comment-49058 Nashville Grant Sat, 13 Mar 2010 03:36:56 +0000 http://agentgenius.com/?p=14027#comment-49058 I'm pretty sure appraisers are evil (sorry, just read Gwen's last article and she got me in this mood). I do have a real question: do appraisers usually use the cost basis method when appraising new construction short sales? Seemed unusual to me. I’m pretty sure appraisers are evil (sorry, just read Gwen’s last article and she got me in this mood). I do have a real question: do appraisers usually use the cost basis method when appraising new construction short sales? Seemed unusual to me.

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