flooring, painting, clutter

[chrislyn317]

This may be in the wrong place but, I was wondering if carpet condition, painting thats in progress, and clutter in garage & basement are big things that would get a home denied for FHA. If anything is listed as being neccasary to fix before closing does the appraiser come back out to check or do I have show photos?

I'm a buyer & i'm purchasing the house I've been renting. I know there is equity in the property as i'm buying way below market value.

Thanks for any comments. I'm stressing out about this as my appraisal is scheduled for Monday.

 

[Marcia Langley]

chrislyn,

If the appraiser notes some needed repairs on the appraisal the lender may require that the repairs be complete prior to closing the loan. Any repairs thus noted by the appraiser will probably be photographed as complete by the same appraiser in another visit.

FHA is not extremely strict but they do have some minimum requirements. An appraiser would have to see it with their own eyes in order to form an opinion.

I hope it goes well for you.

 

[Pamela Crowley (Florida)]

The appraiser MUST note everything that could be a safety and/or marketability issue. Almost ALL of these issues become up to the underwriter to decide if they want them corrected prior to closing.

What is the condition of the carpeting?

I cannot believe any underwriter would not call for the painting in progress now to be finished prior to closing.

Depending on what the 'clutter' consists of and what it might be hiding.....

Can you post some photos of these things so we can help you more?

 

[Michael Tipton]

How would the typical buyer react to the subject's observed condition is usually my first reaction. With FHA you might also want to review Mortgagee Letter 2005-ML 48 dated 12/19/2005.
Safety issues should be of primary concern.

 

[Mike Garrett RAA]

Yep...all of the above

 

[chrislyn317]

The carpet is horrible... so old and faided. We've started pulling it up and treating the hardwood underneath. We plan to lay laminate over it but really don't want to put out all that money if we aren't going to be approved for the mortgage.

The painting is done accept for the wall that goes upstairs, the hallway, & the trim.

The clutter is various things like, baby equipment, nick nacks, decorations, some old clothes. It's not hiding anything. The basement is tile floor and wood panelling in the place where this stuff is sitting. The garage is all cement.


Not to make excuses but most of this would of been organized better and taken care of given a little more time. My husband works 60 hours a week, & i'm 6 months pregnant. So he only gets to paint when I leave the house and he has a rare day off.

I'd include pictures but it's kind of a little late now. The appraiser comes tomorrow morning. Thanks for your help. I guess I came here for reassurance that I don't have to worry. As long as they give us time to fix it all and don't just discount us because of anything they find I think we'll be ok. Again thanks for the help. I'll post back after to let you all know what happens.

 

[Lee in L.A.]

The appraisers not likely to worry about personal property clutter, unless it's extreme. Carpet that's old dirty and worn is one thing. Carpet that's old and torn another. It could be a safety (tripping) hazard. In that case, ripping it out would probably solve the problem since you say there's wood floors underneath.

 

[TXCBoy36]

Keep in mind, the appraiser is establish safety hazards but also marketabilty issues...if the appraiser feels that the carpet would effect its marketability, he may claim that the carpet needs to be replaced.

It depends on opinion of the appraiser and the actual condition of the carpet.

JC

 

[chrislyn317]

All went well He even said "WoW your getting some equity here". He didn't care about the clutter. So I'm happy and excited & want to express my thanks again for all the helpful comments.

 

[Ariba]

The carpet is horrible... so old and faided. We've started pulling it up and treating the hardwood underneath. We plan to lay laminate over it but really don't want to put out all that money if we aren't going to be approved for the mortgage.

I am glad everything went well at the closing. :icon_lol: Not that it matters now, but just wondering what possessed you to start pulling up the carpet when you had not closed on the property? In most jurisdictions you could have been charged with illegal entry and trespassing. :icon_idea:

Good luck.