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4000.1 Inspection Requirements

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Joined
Nov 2, 2006
Professional Status
Certified Residential Appraiser
State
Pennsylvania
Since there appears to be requirements for operability and condition of appliances and water treatment systems that are more appropriately addressed by a trained, licensed home inspector, have any appraisers been able to require a client to provide them with a home inspection with or prior to their appraisal?
I have managed to require a realtor or their assistant to accompany me in new homes so that they can wait the 2 hours for the Bosch dishwasher to go through its cycle when neither of us can figure out ho to cancel it. But that's just a CYA so I don't have to leave an appliance on.
IMO, the correct (but not the cheapest) way to ensure FHA is only taking homes of decent condition as collateral is to require a home inspection prior to the appraisal with the appraisal done based on the far more reliable assumptions gleaned from such reports. But I guess the idea is that if they can get an untrained appraiser to sign off for them for items better left to home inspectors, it can save a few hundred per home. After all, think of all the money they save by hiring homeless to sign foreclosure forms instead of the lawyers required by law.
 

Cob

Senior Member
Joined
Mar 30, 2006
Professional Status
Certified Residential Appraiser
State
Texas
I do USDA appraisals, you a required to follow FHA guidelines and basically perform an FHA site visit, I had one of these USDA appraisals change to an FHA assignment, I called the HUD office and explained to them how original order was USDA, they told me I did NOT have to re inspect AND I could use original effective date even though there was no FHA case number at the time of the original appraisal.
 

tamiecape

Sophomore Member
Joined
Feb 27, 2007
Professional Status
Certified Residential Appraiser
State
Missouri
If I know a Home Inspection has been done, I always request a copy and state I used it as a guide for the condition of the dwelling including the appliances, in my Appraisal. I have only had one Realtor refuse to allow me a copy of the Home Inspection.
 
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