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FHA Appraisal

FHA Appraisal is the step once you are through with the process of pre-qualifying for home loan and home finding. In FHA loan appraisal, the worth of the property is estimated and judged and results of FHA appraisal tells if the property justifies for the amount it is going to be purchased or not. This is a sort of security and satisfaction for the lender. FHA appraisal gives, lender the assurance that in case, borrower makes any default in the Mortgage payment the same can be recovered by Foreclosure selling of the property.

The FHA property appraisal is done by the appraisers who are approved by the Federal Housing and Administration. It also beneficial from the borrower's point of view, as in case, s/he wants to sell the property then it should pay the handsome amount so that the selling serves the purpose.

The main thing that is noticed in FHA appraisal checklist is finding and inspecting property for any anti-health or safety related issue. To do FHA property appraisal, the appraisers check 3-5 recent sales of the houses that has occurred within the radius of 1 mile from the concerned property. The time period take to check the selling is 12 months. Here another condition of similarity in bedroom, size, bathroom and bedroom count is taken into account. The FHA appraisal may take some time to complete so it can delay the process of FHA home loan to certain extent.

FHA Appraisal Checklist



FHA Appraisal Checklist is categorized into many sub topics so that every things is covered while doing inspection. Generally these guidelines include the following guidelines that are used while inspecting the home:
  • Operating oil and gas wells
  • Hazard from smoke, fumes or odors or offensive noises
  • Under property considerations, the soil type, proximity to dumps, industrial sites,
  • Inspection of water supply and septic tanks
  • Grading and drainage system
  • Private roads and maintenance
  • Structural FHA property appraisal guidelines: water drainage and leakage, rodent infestation, ventilation
Besides this there are many FHA appraisal standards that are revised from time to time and are area specific. So the borrower must go through the FHA loan appraisal in order to find out if the property is worth enough to buy or not.

 

FHA Home Loan

Check FHA home loan for finding FHA appraisal guidelines and checklist. Also see the standards required for the proper appraisal.
Website:http://www.fha-home-loans.com/appraisal_qualifying_fha_loan.htm
 

FHA Appraisal Forms

FHA loan appraisal forms include the complete checklist for the appraisers who are doing this appraisals. This should also be checked by the borrower and seller so that they can best of the deal.
Website:http://docs.google.com/gview?a=v&q=cache:D1L4VBn_ujIJ:www.appraisaltoday.com/images/Odom_FHA_inspect_list.pdf+fha+appraisal+checklist&hl=en
 

FHA Info

In this website of FHA Info check the regular FHA appraisals requirements and FHA guidelines for homeowners.
Website:http://www.fhainfo.com/fhaappraisals.htm



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