How long does an fha appraisal take and how long is it good for.
Fha appraisal roof inspection.
These are the minimum steps that must be performed during an fha home appraisal.
In order to pass the appraisal process the roof must also provide reasonable future utility durability and economy of maintenance according to the fha official site.
Fha no longer mandates automatic inspection of flat and or unobservable roofs.
Eligible borrowers may be able to receive a 30 day extension.
For starters the roof must do what it s designed to do fha and hud regulations say it must not leak or allow moisture to enter the home.
Otherwise a new appraisal is required and the process starts all over again although a 30 day extension is possible under some circumstances.
The appraiser must note in the appraisal that he she could not adequately observe the entire roof area and state which area s were unobservable.
That means it must be worth the purchase price and have such basics as electricity drinkable water adequate heat a stable roof fire exits and more.
The primary areas of inspection are the roof the foundation lot grade ventilation mechanical systems heating electricity and crawl spaces when present.
Here is the general.
There are some situations where it is not possible to see the roof because of the slope of the lot or because it could be covered with snow.
Water heaters the water heater must meet local building.
What does the appraiser look for.
Fha suggests that buyers independently have an inspection done.
The appraiser must report if the roof has less than two years of remaining life and make the appraisal subject to inspection by a professional roofer what if the appraiser can t see the roof.
Additionally the attic must be inspected for roof problems another.
The fha appraisal process typically takes the same amount of time as a conventional mortgage.
Fha appraisal requirements mandate that a roof must keep moisture out and cannot have more than three roofing layers.
An fha appraisal is valid for 120 days.
As with any other type of roof the appraiser is to look for signs that would indicate a possible roof problem.
If the inspection reveals the need for roof repairs and the roof already has three or more layers of roofing the fha requires a new roof.
When the appraiser is unable to view the roof the appraiser must explain why the roof is unobservable and report the results of the assessment of the underside of the roof the attic and the ceilings it cannot be emphasized enough that an fha appraisal is not meant to be a top to bottom inspection of the roof.
