FHA Housing Loan – Is FHA Appraiser Also An Inspector?
FHA Housing Loan – Is FHA Appraiser Also An Inspector?
If you are buying a home or refinancing a mortgage using a FHA Housing Loan you may think you don’t need an inspection because that is what the FHA Appraiser will do. That is a misconception believed by a lot of people. A FHA Appraiser job is not to do a full inspection of the property. His job is to establish what the current market value of the property.
Most Realtors will encourage you to get a full house inspection of the home you are buying, don’t rely on the FHA Appraiser report.
The author of the article below will discuss what the FHA Appraiser will normally do during an appraisal of the property.
Don’t Confuse FHA Appraiser For An Inspector
If I had a nickel for the number of times I heard a seller or a homeowner looking to refinance express some form of fear about the FHA appraiser coming in and asking him to rebuild his house, I’d be less broke than I am now.
The first thing to understand about the appraiser is he or she does not work for FHA and is not there on some detailed property inspection to force you to uphold the greatest structural integrity your home Read more…