Profile picture for amber williams81

Can I (seller) get an FHA appraisal/inspection before going to market?

My house is in an area that I am assuming has a high ratio of FHA/USDA loans on mortgages because of the economic conditions. As a seller, is there any way for me to have an FHA appraisal/inspection before we put our house on the market? I would really like to fix any major issues that would hold up financing for a buyer down the road. Is this something that would even be recommended? I am pretty sure that there are no major problems with the house--we have replaced the roof, furnace, A/C, and water heater since we have lived here and everything works great. This is our first home so we have never sold a home before. We are planning to list in the next 6-12 months. 
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May 04 - US
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Answers (8)

What you want is an inspection so to learn of any issues now and not be surprised later. You do not need an appraisal as it wont hold an weight for future transactions. If you get an inspection then you know of any flaws that may be hidden with your home. You can cure those issues and be prepared better for a easier selling experience. You can offer your inspection to any potential buyer or buyers agent but they will still want to have their own done if they decide to contract your home for purchase. Good luck to you.

Brian Kochik
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May 12
Profile picture for hpvanc
I would post this question in the mortgage forum.

I don't know if it is possible, but it seems like it would be beneficial to advertise it at an approved price essentially with a prepaid appraisal. To do that I believe you would need to go through a lender and get an FHA case number that will follow the property assigned. That way you would not be "wasting" the appraisal cost and a buyer would know they would be able to close without risking the cost of the appraisal.
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May 12
You may be better served by a complete home inspection report done by a qualified expert.  That should tell you all of the issues relating to livability, soundness, health & safety, and security.  Those are show stoppers for lending of any kind.  

Appraisers are not home inspectors.  They give an opinion of value.  They concern themselves of what can be seen at the floor level.  FHA protocol requires the appraiser to inspect the attic and crawl space (head & shoulder look see), testing of the plumbing (flushing toilet running cold water in the sink), heat and A/C, functioning of windows and doors, and lights.

Peeling paint is a big issues on wood surfaces.
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May 12
Profile picture for amber williams81
I don't have any expectation that a future buyer would be a able to  or want to use my appraisal/inspection in lieu of getting their own. This is something I would do just to have as much information as possible and to have the house in solid, sellable shape no mater what type of financing the future buyer may need. I am basically looking to avoid ay surprises when I do put the house on the market. 
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May 04
Any appraisal you pay for will not have any value to any lenders in the future.  Also it can be off 10% or more one way or another
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May 04
You can pay an appraiser to give you an appraisal.  Make sure he/she understands that this is for market value.  However, a good Realtor should be able to give you this same advice by researching the similar homes in your neighborhood.

When you go under contract, the bank will require their own appraiser.

You, as the seller, CAN hire an inspector and then repair the items that he finds.  Most buyers will still want to hire their own inspector but you may run into less issues this way.  If the inspector finds a major repair item, you can go ahead and get it repaired so it doesn't come up in the buyer's home inspection.
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May 04
Profile picture for amber williams81
Thanks for your answer. I was planning to get an inspection and appraisal anyway before listing so I decided that I might as well go with an FHA if possible. It's a slow market here, anything I can do to help the sale go smoothly will be worth it in the long run. 
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May 04
Yes you can. To get an FHA appraisal you must use an FHA appraiser who will charge you for it, so I would just contact a home inspector to do an inspection and fix those things. Maybe you can ask them to charge less because you don't need the book and pictures they provide a buyer, but they might have just one fee for all. The buyer will still request an inspection and all inspectors will search or make up stuff to justify their $350-450 price. The lender will still require an FHA appraisal, but hopefully the inspector found the big things.
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May 04
 
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