Appraisal conditions that could affect a loan

October 9, 2019

Are you selling? Make sure to have these issues addressed before an appraiser comes out. If your buying, make sure seller will address these issues.

Common Condition and Health & Safety Issues
Common for both FHA and Conventional

Exposed Electric Wires
Active Roof Leaks
Broken windows
Bars on windows without quick release
Handrails needed on stairs and decks
Smoke detectors – one per bedroom, one in the hall outside of the bedrooms, one on each level
CO detector – one per level installed in the hallway outside of bedrooms

Exclusive for FHA

Roof nearing the end of its life – appraiser must warrant that the roof has at least 2 years life left. If there is doubt, the appraiser can ask for an independent roof certificate
Utilities MUST be on and working
Built-in appliances must be installed
Appliances must be working
Heater must be working & able to heat the home to 58 degrees
Peeling paint must be scraped & re-painted
Attic will be inspected for leaks & pest infestation
Crawl will be inspected for water intrusion & pest infestation
Pool must be free of debris & pool equipment must be working
Walls/ceilings should be free of large cracks

If your thinking of buying or selling, contact us today.

Is your house in dis-repair, we can help you get it ready or we can bring you a cash buyer to avoid any appraisal issues.