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FHA Appraisal Again

By
Real Estate Agent with Re/Max Masterpiece Realty

To everybody who says that FHA appraisals became less strict....Not so, Last week I met appraiser at my listing. FHA loan...He told me that his FHA appraisals become more and more of inspections: He had to go inside the attic and actually inspect multiple spots. He had to run all appliances that were included in sale. Open and close all the windows to make sure they work. Little bit scary.   

 

 

SELLING REAL ESTATE ON TREASURE COAST SINCE YEAR 2000


Call me at 772-485-4188 or email at anna@annasellsrealestate.com

David Shamansky
US Mortgages - David Shamansky - Highlands Ranch, CO
Creative, Aggressive & 560 FICO - OK, Colorado Mtg

Its due to the low down payment. HUD wants to be sure that the buyer is not getting a piece of crap home and that unseen repairs are going to cost them money they likely do not have and cause hardship.

Yes more intrusive but when you understand why it makes a lot more sense

Nov 18, 2015 01:15 AM
Anna Chroscicki
Re/Max Masterpiece Realty - Port St Lucie, FL
Realtor - St. Lucie County affordable Real Estate

Yes. It does (makes sense). To some degree...But what scares me , is the fact that now we have to seriously worry about deal "going south", because spring on one of the windows does not work and window does not stay open? Or one burner on the range does not work?  This does not make house piece of crap. But it could make Real Estate market for FHA buyers much smaller.  

Nov 18, 2015 03:14 AM