What do fha appraisers check for in a home?

What do fha appraisers check for in a home? and please do not just say value of home. I want to know what do they literally check for to determine the value of home. what do city inspectors check for?

2 Answers

  • 10 years ago
    Best Answer

    FHA appraiser / Mortgage appraiser are there to determine what the market value is for your prospective house. IE: they want to make sure that if you default on the loan, they will be able to turn around and sell it without taking a big loss.

    To do this, they will typically walk around the house, taking measurements and verifying the claimed square footage of the property and condition of the lot. If it is a new construction, they probably won't bother going inside. With a previously owned house, they would want to see how the house is maintained on the inside (IE: mold? Holes in sheetrock? other problems?). Then they would take their observations and compare your house against houses within the community you are buying that have closed in the past few months. Normally this boils down to a cost per square foot basis which is easily obtained off of MLS.

    City inspectors are another ball of wax. They are there for code enforcement, generally on new home construction or remodels where permits are pulled. They want to make sure the house meets international residential code, national electric code, and any local codes that may apply.

    Building inspectors are another type. They are typically hired by buyers that want to verify that the house they are about to purchase doesn't have any costly problems or issues that would negatively affect livability and resale (IE: termites, aging electrical wiring, etc.) In many states, a "building inspector" can be any blow-joe that claims to know something about construction, so shop carefully.

  • Anonymous
    10 years ago

    fha appraisers tell you the market value of your home! an home inspector will tell you the current position of your home! You should hire an home inspector before buying any home so that you can get the complete information about home!


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