What do FHA appraisals require, that a conventional appraisal does not?

[TMG]

It's been 5 years since I have completed an FHA order. Can a "short list" be provided so I don't miss any red flags? I think for one, the Intended User must be "HUD".

I realize this is a big question, and wondered if there was a short answer.

Thank you!

 

[CANative]

https://www.HUD.gov/sites/dfiles/OCHCO/documents/4000.1hsgh.pdf

 

[Terrel L. Shields]

Define conventional. I will assume you mean secondary market like Fannie Mae or Freddy Mac, not a conventional bank loan under IAG. The inspection protocols are slightly different. Head and shoulders inspection of the attic and crawl space is required. You can download and read the 4000.1 document. The appraisal requirements section is in the middle of the document.

 

[CANative]

Head and shoulders inspection of the attic and crawl space is required.

... at a minimum.

But there is a lot more than just that.

I recommend taking a refresher CE class.

 

[glenn walker]

It's been 5 years since I have completed an FHA order. Can a "short list" be provided so I don't miss any red flags? I think for one, the Intended User must be "HUD".

I realize this is a big question, and wondered if there was a short answer.

Thank you!

First make sure you are still on the roster- Then take at minimum a 7-hour FHA Class and download teh 4000.1 handbook to your desktop for reference.

 

[TMG]

Thank you everybody!! I have been reading the FHA website, and have downloaded their Desktop and Drive-By Scope of Work and Limiting Conditions Statements.

I will also check into an online FHA McKissock course.

 

[RSW]

I keep seeing formites recommend people take an FHA course... I have been doing FHA appraisals since 1995 and have taken numerous FHA courses. Not one of those classes ever helped me with the inspection of a property. I recommend the OP get a copy of the old VC sheet which can be found in most software packages. Study the VC sheet and read the 4000.1 handbook.

 

[CANative]

I keep seeing formites recommend people take an FHA course... I have been doing FHA appraisals since 1995 and have taken numerous FHA courses. Not one of those classes ever helped me with the inspection of a property. I recommend the OP get a copy of the old VC sheet which can be found in most software packages. Study the VC sheet and read the 4000.1 handbook.

The OP hasn't done an FHA appraisal in 5 years. I would want to get updated or at least spend a few hours a day for a week reading the 4000.1 and current ML's. The VC sheets were for a time long ago and in a different galaxy. The inspection requirements are in the 4000.1.

 

[RSW]

The VC sheet showed what HUD wanted the appraiser to look for during the inspection process. Sure, some things are not required now, but most are.

 

[CANative]

The 4000.1 adds a few things, I think.

What I was getting at is that the OP had previously completed FHA work (according to the original post) so I was thinking all he needed was catching up since they issued the 4000.1 a few years ago.