Do Home Appraisers Go Into Attics

If you have a functional attic basement or garage your appraiser will factor those assets into your overall home value.

Do home appraisers go into attics. If an appraiser determines that your home is worth 200 000 and you owe 110 000 on your mortgage loan you have 90 000 in equity. Let s start with the basics a home appraiser s job is to determine your home s fair market value. Fha appraisers fha has always had a requirement for appraisers to inspect attics. An appraisal determines for the seller the buyer and the lender how much a home is worth.

That unobtrusive ceiling panel is the gateway to a wealth of information. The purpose is to protect the buyer and the lender from paying too much. First things first during a typical home sale the appraiser does not work for the seller. But maybe it should be.

Hud fha requirements have not changes for attic and crawl space inspections. Appraisers must be qualified and certified in your state and in most states adhere to the appraisal foundation s uniform standards of professional appraisal practice. What does an appraiser do. The size of the garage or if the home has a garage at all will also contribute to the home appraisal value.

However hud fha does not have a real definition of attic in their documentation. Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. Inspectors typically work by a set of standards. That comes out to a home equity percentage of 45 percent.

The only change is that they require a photo of that head shoulders access in the report. Depending on your property s condition and size the appraisal process can be a quick 15 minute visit or a two to three hour examination. Many home buyers who are looking to upsize their home take into consideration how much storage space a home has so this is also something that an appraiser will look at to determine value. External factors of the house.

They are still head shoulders only. That is the call of a professional. Do home inspectors go in an attic. Rather the home appraisal is all about managing risk for the lender.

They are most often conducted at the behest of the lender. Attics are hot in summer cold in winter dusty dirty and part of a complete home inspection. They are not requiring a full inspection and the appraiser is not qualified to make a full inspection.