Realtor Tips For FHA Appraisals

In recent months FHA financing has been on the increase.  With the decline of the sub prime lending market, and related creative financing programs, many lenders have been offering FHA loans to many homeowners for refinancing and home purchases.  Current FHA requirements are not as stringent as they once were.  If you are interested in the exact requirements you can log on to the official HUD website.  The purpose of this article is to provide some helpful tips to realtors when their listings sell with FHA financing.  By making sure that the home is ready for the appraisal inspection, the entire loan process can run smoother and no additional trips will be necessary to verify HUD requirements are met.  I have included here five items that should be addressed.

  1. Electricity must be on for the appraiser to verify operation of the HVAC system, appliances, and the electrical system.
  2. Plumbing must be operational so the appraiser can look for leaks, flush toilets, and check water pressure.
  3. Attic access must be provided to check for insulation, attic ventilation, and any damage.
  4. Access must be provided to the crawlspace (when present) to check for standing water, possible damage, and ventilation.
  5. Windows must be able to be opened.  This is important for safety reasons as access to the outside is necessary.  In addition, if security bars are present, they must have a quick release mechanism or if that is not present they must be removed.

This is by no means a complete and comprehensive lists but it includes items which I have ran into lately that have created delays in the closing process.  If you have any questions regarding appraisal requirements for FHA financing please do not hesitate to contact me.

Speak Your Mind


Sign up and get valuable content!

  • Get local real estate market data
  • Learn valuable information from a seasoned appraiser
  • Find out what adds value to your home

I respect your privacy. Your information stays with me.