Fha Appraisal Holes In Siding

Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances.

Fha appraisal holes in siding. If you re trying to buy a house using an fha loan your fha lender will typically require an appraisal to validate the value of the home. Their is no repairs that can be done the brick should be removed and replaced. At a minimum the appraiser must complete the following steps. Any leaks or moisture due to a problem with the roof are noted will be noted on the appraisal report.

For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. Driveway or sidewalk damage. Two of the exterior walls were particularly bad. Serious issue possible fha concern this wood rot found just below the roof is caused from rain water or ice build up in the winter.

Any noticeable holes water damage or other problems are also noted. About two weeks later i was asked to return to the home to verify repairs had been made. I could even push my finger into portions of it. This discovery process is similar to the appraiser s job in the basement the appraiser inspects the condition of the area and makes the appropriate observations.

Visually inspect the subject property both inside and out. Call a professional to evaluate. The fha requires that loans must close within 120 days of the appraisal and the original appraiser must return to the property within this timeframe to confirm that any necessary repairs have been made. Overview of fha appraisal guidelines for 2020.

Similar to conventional home loans fha loans feature fha appraisal requirements mandated by the hud. Not a problem where the paint is in good shape but where it could possibly be ingested even on outbuildings. This is one of the biggest hot spots for an fha appraiser and rightly so. We cover those requirements and how they compare to conventional appraisals.

I found one of the exterior walls had. Holes in the roof or siding. Possible fha concern the brick on the side of this garage has had some serious movement. For that matter asbestos potential in a popcorn ceiling that s falling down or in old cracked siding could also be an issue.