What you AND your Buyer's Agent need to be aware of!

Property condition and appraisal:

The condition of a property is very important for FHA loans. A bit of knowledge in advance can make a large difference to the overall escrow transaction. Having these common issues addressed will improve the ability of an FHA buyer to purchase a property.

Please use this guide to help you evaluate if a property is "loanable" or to do the proper negotiations for repairs ahead of time.

FHA no longer requires repairs of cosmetic items or items that are considered normal wear and tear (see below).

- All appliances must either be functional or removed from the property before inspection.
- Pools and pool equipment must be in working order and have no health issues--ie. algae
HVAC--only the heating equipment must work. AC does not matter.
This is a list of examples that no longer require automatic repair to existing properties, but are not limited to:

- Missing handrails
- Cracked or damaged exit doors that are otherwise operable
- Cracked window glass
- Defective paint surfaces in homes built after 1978
- Minor plumbing leaks such as faucets
- Worn or soiled floor coverings or finish
- Rotten or worn out countertops
- Damaged plaster or sheet rock or other wall and ceiling material on homes constructed after 1978.
- Poor workmanship
- Trip hazards such as sidewalks or badly installed carpet
- Lack of all weather driveway surface