Ace Appraisals Blog and information

January 5th, 2009 8:24 AM

With recurring requests on information about the level of repair or completion of repairs in your home necessary to fulfill and FHA appraisal, I thought I would offer this as a basic starting point.

 

U.S. Department of Housing and Urban Development

HANDBOOK 4150.2

Appendix D: Valuation Protocol  

Cosmetic repairs are not required; however, they are to be considered in the overall condition rating and valuation of the property. Examples of cosmetic repairs would include surface treatments, beautification or adornment not required for the preservation of the property. For example, generally, worn floor finishes or carpeting, holes in window screens, or a small crack in a windowpane are examples of deferred maintenance that do not rise to the level of a required repair but must be reported by the appraiser.


Posted by Seph Hammer on January 5th, 2009 8:24 AMPost a Comment (0)

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