Fha Appraisal Holes In Siding

I could even push my finger into portions of it.

Fha appraisal holes in siding.

Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances. Exposed studs or floorboards. According to the 2020 fha appraisal guidelines all properties being purchased with an fha insured mortgage loan must be appraised by a licensed hud approved home appraiser. About two weeks later i was asked to return to the home to verify repairs had been made.

For an fha appraisal one of the conditions i required to be repaired was extensive water damage to the masonite siding. Call a professional to evaluate. For an fha loan in addition to placing a value on the property the appraiser is looking for several potential hazards that could cause safety issues. Possible fha concern the brick on the side of this garage has had some serious movement.

We cover those requirements and how they compare to conventional appraisals. Driveway or sidewalk damage. Visually inspect the subject property both inside and out. Two of the exterior walls were particularly bad.

Any leaks or moisture due to a problem with the roof are noted will be noted on the appraisal report. Similar to conventional home loans fha loans feature fha appraisal requirements mandated by the hud. The fha requires that loans must close within 120 days of the appraisal and the original appraiser must return to the property within this timeframe to confirm that any necessary repairs have been made. Their is no repairs that can be done the brick should be removed and replaced.

Any noticeable holes water damage or other problems are also noted. This discovery process is similar to the appraiser s job in the basement the appraiser inspects the condition of the area and makes the appropriate observations. This is one of the biggest hot spots for an fha appraiser and rightly so. Serious issue possible fha concern this wood rot found just below the roof is caused from rain water or ice build up in the winter.

Not a problem where the paint is in good shape but where it could possibly be ingested even on outbuildings. Holes in the roof or siding. I found one of the exterior walls had. For that matter asbestos potential in a popcorn ceiling that s falling down or in old cracked siding could also be an issue.