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FHA Question

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a valued life

Freshman Member
Joined
Dec 10, 2017
Professional Status
Certified Residential Appraiser
State
Nevada
I am completing an FHA appraisal for a lender and I have the following scenario. All cabinet doors as well as cabinet drawers have been removed from the kitchen. In addition, the center island countertop has also been removed. In my view, the kitchen is still fully functional as all appliances are installed and in working order, there is a functional sink and there is sufficient counter space and cabinetry for food prep and storage. I am of the opinion that the kitchen still meets FHA MPR despite the deferred maintenance as it is fully functional. I am thinking I need to develop a cost to cure for the deferred maintenance and adjust in the sales grid in addition to analyzing the impact on overall property condition. I do not feel like these should be FHA conditions for repair. Any thoughts?
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Call the Direct endorsement underwriter and find out what they think. Stands to reason this is still well over $1,000 to fix...and some may, some may not want to...has someone removed them to refinish or what?
 

a valued life

Freshman Member
Joined
Dec 10, 2017
Professional Status
Certified Residential Appraiser
State
Nevada
Call the Direct endorsement underwriter and find out what they think. Stands to reason this is still well over $1,000 to fix...and some may, some may not want to...has someone removed them to refinish or what?
It appears that they were just taken. I'm estimating somewhere in the neighborhood of $7-9k to replace everything, which is my main hesitation. I have not been able to ascertain if there is a limit to deferred maintenance for an FHA property that is not compliance related.
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
I have not been able to ascertain if there is a limit to deferred maintenance for an FHA property that is not compliance related.
Call... Lender should be able to connect you to the DEU
 
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