Boston Home Appraisals.Com

If you are applying for an FHA loan or selling your home be sure the home meets minimum property standards. Some examples of the most common requirements include:

Homes built prior to 1978 remove all peeling paint and repaint the problem areas; interior or exterior due to lead based paint hazards.

 

Homes with damp or flooded basements, evidence of structural failure or foundation settlement problems, hazardous materials on site or within the improvements may require an additional inspection and mitigation depending on severity.

Inadequate access/egress from bedrooms to exterior of home including windows with security bars without safety releases must be corrected to protect the safety of occupants.

All homes should have at least a 60 amp service panel. Older homes with outdated knob & tube wiring should be rewired by a licensed electrician.

You also must provide inspection access to the attic and crawl.

The roof should have at least 3 years of functional life left and no more than two layers of asphalt shingles. Be sure that all mechanicals including the electrical, furnace and plumbing systems are in proper working order. 

The appraiser is not performing a home inspection. However if you are purchasing a home with FHA financing the appraiser must  inspect the home for FHA minimum property standards (Health & Safety) and to make sure the property is easy to resell.

By law, An appraiser must be state licensed or certified to perform appraisals prepared for federally related mortgage transactions.  You are entitled to receive a copy of the appraisal report from the lender only. The report is typically included in closing documents. Many homeowners can take some simple steps to help improve their homes market appeal. One simple step would be cutting or clearing all overgrown shrubs or trees that obscure the view of the home from the street.  This also gives easy access to the exterior perimeter of the home for the purpose of measurement and inspection. Appraisers take many pictures including the exterior and interior of your home. Please have your home ready.

A well maintained lawn and general clean up around the yard can be beneficial to your curb appeal. The appraiser must have access to view all interior rooms per industry requirements. Clean homes showing pride of ownership usually sell faster and at much higher prices. Homes in need of any repairs such as leaking faucets, missing door knobs ect. should be attended to. . In short, if you can fix it you should do so prior to the inspection.

Renovation projects should be completed otherwise the work needed to complete the renovation will be written into the report and adjusted accordingly per cost to complete using qualified contractors.

You can also provide documents such as a prior appraisal, homeowner association documents, original builder plans & specifications, survey or plot plan map, and a list of recent repairs, upgrades or additions to the property that you have completed including the building permit if applicable. If selling provide a list of any personal property known as chattel that will transfer with the sale of the home if applicable.

If it is a multi- family or any income producing property, a breakdown of income and expenses for the last year or two and a copy of leases should be provided.

---