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

[alebrewer]

Attached is an FHA checklist I developed way back in the day. There have been a few nominal changes since I built it, but most of the stuff is still relevant. At least a start.

 

[Terrel L. Shields]

Not one of those classes ever helped me with the inspection of a property.

Yep...got that

 

[Tru Red]

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

Short answer...at least an additional $150.

 

[Marty Boone]

They require you to pretend to be a home inspector for about 20-30 minutes.

 

[Tom D]

1. no peeling paint anywhere, especially in a photo.
2. handrails on stairs
3. anything broken, or needing repairs, that is obvious, especially in your photos
4. smoke & co detectors
5. all dimensions of the lot
6. their proper terminology for 'uncovered' patios, decks, etc, plus their dimensions
7. a narrative about the neighborhood including points of interest
8. a narrative report in a 1004 form, if you read the manual you will be surprised what appraisers leave out. FHA really wants a narrative report
9. the 'legal'
10. pictures of all the systems to prove that you inspected them
11. pictures of laundry area, basement, crawl space, attic, patios, extras. too many photos is a necessity. mention the fake fireplace & why you didn't adjust for it.
12. proper terminology, based on their manual requirements.
i would actually explain to the home owner the repair items, since i am coming back. quote me, 'i don't make FHA rules, i just enforce them'.
if an actual HUD reviewer gets, as quality control, your appraisal a year after settlement, they will tell you what you did wrong by page & paragraph number.

 

[ramrcdk]

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

Short answer...at least an additional $150.

DO YOU REALIZE YOUR FONT IS tiny-tiny?

 

[CANative]

1. no peeling paint anywhere, especially in a photo.
2. handrails on stairs
3. anything broken, or needing repairs, that is obvious, especially in your photos
4. smoke & co detectors
5. all dimensions of the lot
6. their proper terminology for 'uncovered' patios, decks, etc, plus their dimensions
7. a narrative about the neighborhood including points of interest
8. a narrative report in a 1004 form, if you read the manual you will be surprised what appraisers leave out. FHA really wants a narrative report
9. the 'legal'
10. pictures of all the systems to prove that you inspected them
11. pictures of laundry area, basement, crawl space, attic, patios, extras. too many photos is a necessity. mention the fake fireplace & why you didn't adjust for it.
12. proper terminology, based on their manual requirements.
i would actually explain to the home owner the repair items, since i am coming back. quote me, 'i don't make FHA rules, i just enforce them'.
if an actual HUD reviewer gets, as quality control, your appraisal a year after settlement, they will tell you what you did wrong by page & paragraph number.

I'm guessing you don't do very many FHA assignments.

 

[ramrcdk]

Once you figure it out ...make a report template 1 - 12 copy -paste directly from FHA-HUD. Then all you have to do is answer in bolded font & move ON. Most are Yes Or No answers...or can be.

The owner -home gets vetted in the scheduling stage, so I sorta' know what's what about 90% of the time. Exterior condition "care of ownership" or "deferred condition" is a definite prior' need-to-know.
So Mamm' did your lender tell you about FHA? No, that's ok. I'll be taking lots of photos, so do you have anything that is in need of repair? I ask because I am required to do some possibly-to-you unusual things like .... cook lunch on your stove, bake a cake in your oven, wash your dishes in hot water, stare into your vanity & kitchen sink cabinets during lunch. So so so very glad your'on- a slab.
If my ladder looks long its because you painted your scuttle shut & those screws don't help.
I may have to come back when you get cousin Sam to release that tiny portal. Now why is this window sealed shut? Oh, it's the same as ALL of the other bedroom windows. I see you have a wire for a fire-smoke alarm hanging there. Where is the alarm? Oh at the store, OK. AND so it goes...

 

[CANative]

You only have to answer issues that ARE an MPR/MPS deficiency. You don't have to report items that ARE NOT an MPR/MPS deficiency.

 

[Tru Red]

DO YOU REALIZE YOUR FONT IS tiny-tiny?

Yes. I was seeing if it actually changed.