Fha Appraisal Holes In Siding

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.

Fha appraisal holes in siding.

I could even push my finger into portions of it. For that matter asbestos potential in a popcorn ceiling that s falling down or in old cracked siding could also be an issue. According to the 2020 fha appraisal guidelines all properties being purchased with an fha insured mortgage loan must be appraised by a licensed hud approved home appraiser. Their is no repairs that can be done the brick should be removed and replaced.

For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. Visually inspect the subject property both inside and out. 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. At a minimum the appraiser must complete the following steps.

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. I found one of the exterior walls had. Driveway or sidewalk damage. Any noticeable holes water damage or other problems are also noted.

We cover those requirements and how they compare to conventional appraisals. This is one of the biggest hot spots for an fha appraiser and rightly so. Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances. Not a problem where the paint is in good shape but where it could possibly be ingested even on outbuildings.

Holes in the roof or siding. About two weeks later i was asked to return to the home to verify repairs had been made. Exposed studs or floorboards. For an fha loan in addition to placing a value on the property the appraiser is looking for several potential hazards that could cause safety issues.

Two of the exterior walls were particularly bad. 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. Call a professional to evaluate. Possible fha concern the brick on the side of this garage has had some serious movement.