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Kitchen Appliances?

Discussion in 'FHA/HUD and VA' started by Greg Greenhaw, May 11, 2004.

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  1. Greg Greenhaw

    Greg Greenhaw New Member

    0
    Mar 2, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada
    I was asked to complete an FHA appraisal of an REO property with no kitchen appliances. What are the minimum requirements as far as appliances go? Do you need any? I would think that you would at least need an range.
     
  2. john eickhoff

    john eickhoff Junior Member

    0
    Apr 17, 2003
    Professional Status:
    Banking/Mortgage Industry
    State:
    Texas
    There is no requirement for any appliances on FHA. There is a handbook you can get, 4905.1 Rev-1, Requirements For Existing Housing One to Four Family Living Units. It's only about 10 pages long. You can print it out from their web site. It is worth having in your library for reference.
     
  3. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    10
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    John...post a link to that website!
     
  4. Carol

    Carol Sophomore Member

    0
    Feb 6, 2002
  5. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    The newest is the 4150.2 - Valuation Analysis for Single Family One-to-Four Unit Dwellings:

    http://www.hudclips.org/sub_nonhud/cgi/hbks_run.cgi?hbks_run

    An update:

    http://www.hudclips.org/sub_nonhud/cgi/nph...cgi&p=1&r=1&f=G

    Another good link:

    http://www.hud.gov/offices/hsg/sfh/appr/apr_appr.pdf

    Here's where you can get help. Make sure you write down all info when you call to ask questions, including who you talked to, when, what the answer(s) were, etc.

    http://www.hud.gov/offices/hsg/sfh/hoc/hsghocs.cfm

    Just a start. :cool:
     
  6. Greg Greenhaw

    Greg Greenhaw New Member

    0
    Mar 2, 2003
    Professional Status:
    Certified Residential Appraiser
    State:
    Nevada
    Thanks for the info. I got on the Sahoc chatroom this morning and got an answer from them also. Technically a kitchen is a kitchen whether or not it has appliances. No appliances are required which seems kind of contradictory to the health and safety part of the FHA appraisal. After all, most people who are getting an FHA loan have little or no money to pay for appliances......
     
  7. Roxanne Spalding

    Roxanne Spalding New Member

    0
    May 11, 2004
    Professional Status:
    Certified Residential Appraiser
    State:
    Texas
    An adjustment could be warranted if the "average" home in the subject's market area has appliances therefore your comparable sales probably have appliances. What do your comps have for appliances? Range, dishwasher, trash compactor, disposal, double ovens, microwave????
     
  8. Mike Garrett RAA

    Mike Garrett RAA Elite Member

    10
    Jan 14, 2002
    Professional Status:
    Certified Residential Appraiser
    State:
    Colorado
    I have used one of the two blank lines on the URAR and titled it "Appliances/Upgrades". I make my adjustments there for appliances. Many older homes have brand new appliances, some have none. Marshall and Swift gives a good indication of the costs which can lead to a market driven adjustment.
     
  9. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    Ditto
     
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