If you haven’t worked with an appraiser before, you may not realize that all appraisers are NOT the same and can be as different as night and day depending on their experience, education, and familiarity with your market area.
Anyone who’s had an appraiser horror story (there are plenty of them) because they hired the cheapest appraiser will tell you it’s simply not worth the risk. So don’t wait for your own horror story to be a learning experience and wake-up call when hiring an appraiser for your needs.
It can be easy to get tempted by those low fee appraisers. It seems like just a formality anyway. However, when it comes to hiring a professional appraiser for such an important job remember that you often get what you pay for!
Did you know FHA does not require that all kitchen appliances be present?
The main issue regarding appliances is whether they’re ‘built-in’ or ‘slide-in.’ Built-in appliances are considered real property and therefore are required by FHA however; slide-in appliances such as a slide-in stove are considered personal property and therefore are not typically required by FHA.
Regardless of built-in or slide-in; any appliances that are present must be in good working order and not a threat to the safety of the home or its occupants. Additionally, if a slide-in ‘gas’ stove is not present then the gas line leading to the stove area should be capped; which is generally the same rule for ‘gas’ dryers.
There can be a lot of different issues that come up during an FHA appraisal inspection. Some, however, seem to appear more frequently than others. These are issues Temecula homeowners should be aware of when taking part in an FHA refinance or when selling their home to an FHA buyer as any of these items could delay the closing of your transaction. Therefore, whenever possible it’s a good idea to prepare in advance by correcting any of these items prior to the appraiser performing an FHA inspection of the property.
The main goal when an FHA appraiser looks at a home is to look for the three S’s – safety, soundness, and security. Everything on the appraiser’s checklist is meant to ensure the property is safe, habitable and that the home will serve as proper security or collateral for an FHA loan.
Everyone seems to have heard of carbon monoxide, but not many people seem to know much about it. This gas is produced whenever a fuel source is burned. These fuel sources can consist of many different things including kerosene, oil, gas and even wood or charcoal.
The problem is that carbon monoxide cannot be seen or otherwise detected without the use of a monitoring device and in high levels; carbon monoxide can actually cause death. Not to mention even smaller amounts can still cause carbon monoxide poisoning, which can lead to serious health issues from lethargy and amnesia to psychosis and even Parkinson’s disease.