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Old 05-11-2004, 08:42 AM
Greg Greenhaw Greg Greenhaw is offline
 
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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.
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Old 05-11-2004, 11:26 AM
john eickhoff john eickhoff is offline
 
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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.
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Old 05-11-2004, 05:08 PM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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John...post a link to that website!
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Old 05-11-2004, 05:15 PM
Carol Carol is offline
 
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http://www.hud.gov/groups/appraisers.cfm
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Old 05-11-2004, 05:48 PM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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The newest is the 4150.2 - Valuation Analysis for Single Family One-to-Four Unit Dwellings:

http://www.hudclips.org/sub_nonhud/c...n.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.
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Old 05-11-2004, 06:54 PM
Greg Greenhaw Greg Greenhaw is offline
 
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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......
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Old 05-11-2004, 07:19 PM
Roxanne Spalding Roxanne Spalding is offline
 
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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????
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Old 05-11-2004, 07:43 PM
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Mike Garrett, RAA Mike Garrett, RAA is offline
 
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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.
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Old 05-11-2004, 08:01 PM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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Quote:
Originally posted by Mike Garrett, RAA@May 11 2004, 08:43 PM
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.
Ditto
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