An FHA appraisal must be done by an appraiser who is on the FHA roster (their approved list). This is because they require a more thorough appraisal than what is usually done for a conventional loan. It is also important to note that if a property has already received a conventional appraisal it cannot be switched or converted into an FHA appraisal because there are still many elements that must be examined.

An appraiser who has been approved by the FHA will check for all the standard items first, but then take it a little further, and the minimal appraisal guidelines specify that a property must be free of hazards that could have an impact on a person’s safety and health. Some of the extra checks required for these appraisals include:

These are just a sampling of the things an appraisal will cover for an FHA loan. If you’d like to learn more about this process or find out what your options are, contact us today and speak with one of our professionals.

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