FHA Appraisals

by Jason
(West Lafayette, IN USA)

Regarding Overcoming FHA Appraisals: Dear Kate, I am trying to buy a foreclosure and I need to use a FHA loan because of down payment requirements. I do not want to lose the deal because of the appraisal.


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Can you give me information about how strict FHA appraisals are and what appraisers look for. The house needs cosmetic work and has no appliances. It is in a beautiful neighborhood with houses surrounding it listed for $150,000 or more.

I am purchasing this house for $79,000 but like I said, there is work to be done inside. Any information would be greatly appreciated. Jason

Kate Answers: Overcoming FHA Appraisals


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Dear Jason,

Dealing with FHA appraisals, I found I could depend on a surprise or two. Results vary among appraisers and even from one region to the next. FHA may develop an appraisal hot spot in one type of market that carries little emphasis in later years.

But as with any type of appraisal, the appraiser is going to analyze the remaining life of the roof and determine whether plumbing, electrical and heating systems are in working order. Any factors creating unsafe living conditions are noted such as missing stair railings or broken window panes.

As a home buyer, little of this is under your control because most likely you don't have access to the house to make repairs. Even if you did, you would be investing in a property that is not yet yours. If the transaction did not close, you would not get your cash back.

But you can still be proactive! All home buyers need a dream team who watches out for their best interests. To form your own dream team, take the first step with Discover The Magic - Buying A House and continue through my guide to learn why surrounding yourself with professionals is the secret to successful home buying.

I would be remiss if I didn't mention that FHA appraisals are meant to protect the bank, not you! Take the first step in protecting yourself by reading Why FHA Appraisal Is Not Enough if you're wondering why you need to pay for both an appraisal and a home inspection!

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Best Wishes,

Kate Ford



PS If you still have questions regarding FHA Appraisals, write me at Ask Kate where every question is a good question.

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The information you obtain at this site is not, nor is it intended to be, a substitute for financial, real estate or legal advice. You should consult an attorney, accountant, lender or real estate agent, as applicable, for advice regarding your individual situation. Comments and opinions found here are not necessarily those of Get-Your-Best-Mortgage-Rate.com

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