Fha Appraisal Guidelines For Concrete Floors

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Similar to conventional home loans fha loans feature fha appraisal requirements mandated by the hud.

Fha appraisal guidelines for concrete floors.

Property appraisals are one of the many requirements. We have found contradicting info on if bare concrete slab flooring is acceptable for approval of an fha home under an as is appraisal. At a minimum the appraiser must complete the following steps. If you re trying to buy a house using an fha loan your fha lender will typically require an appraisal to validate the value of the home.

An appraiser will observe the property s condition during the required property appraisal and report the results on the fha s appraisal form. Finish flooring in bedroom completed the room was being completely redone and 2. A reader asks i have an appraisal prepared by fha approved appraiser. We were conditionally approved for fha.

There were two items in to be completed in the fha appraisal before closing. Watch for soft floors around toilets and tubs leaky faucets roof leak stains in the ceiling. It is considered to be exposed foundation to fha and must be covered. A reader asked us an appraisal question in our comments section recently about unfinished basements.

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. This is one of the biggest hot spots for an fha appraiser and rightly so. We cover those requirements and how they compare to conventional appraisals. She has done the appraisal as is but stated floor covering is required.

Some are adamant that fha loans need carpets some say we could paint the slab others quote housing and urban development guidelines saying these have been relaxed and that flooring is classed as cosmetic. This is a short sale and appraiser has made comment that carpet in master bedroom has been removed and has bare concrete floors yet does not pose a health hazard. Overview of fha appraisal guidelines for 2020. Question is does fha accept the floor to be painted with a sealer.

Exposed concrete concrete flooring or concrete floor that is acid stained or painted is no longer acceptable flooring. Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances. Finish bathroom in basement. This is an unfinished basement with framing and partial.

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. Water in the crawl space is a definite no no as is significant water standing in.

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