An FHA inspection is basically an in depth investigation of a house. It looks for hazards, structural problems, and ensures that the house is still in good livable condition even while meeting all the FHA standards. The FHA inspection also checks the real value of the property. Since the government regulates FHA loans, you can be assured that all properties that are given to qualified buyers are safe and sound.
Before you choose a house to purchase, make sure it’s in good condition and get an FHA inspection. You can find a local inspector to come and inspect your house for free or you can pay a nominal fee and have your inspector to visit your house a few times. During the inspection, the inspector will not just look at how the house is structurally built but also at how it is maintained. The inspector will check the roof, windows, heating and cooling system, ceiling, plumbing, electrical work, walls, floors, cabinets, sinks, countertops, ceilings, appliances, carpeting, walls, ceilings, basement, visible insulation, ventilation, septic system, storm water drain, accessible windows and doors.
If you are getting an inspection, you have to remember that there are certain things that the inspection will not cover or focus on. First, you cannot get an inspection report on site until the buyer takes possession of your house. After that, the inspector is not allowed to make any alterations or repairs unless the seller allows it. A home must pass through the same due diligence process that a home bought with a conventional loan goes through. So even if your home has had damage for a long time and it is being offered with a FHA loan, it may still not be worthwhile.
You’ll only know about it after you take possession of your home. It would be prudent for you to ask the loan officer or whoever is selling you the loan when it comes to the inspection. He can give you a clear picture of what things are covered and what is not. Usually, the items that a home must have before it can receive a conventional loan are roof, foundation, floor, walls, windows and garage. But aside from that, a home must pass inspection because otherwise, the seller will not be able to sell the house.
A pre-approved FHA loan will require roof and foundation inspection but not the others. Thus, you should have a good working condition of your house prior to applying for the loan. The inspector will also check if the paint on the wall is in good condition and if the roof is in good condition. All walls and roof, siding, chimney and skylights must be in good condition.
When it comes to passing inspection, one of the most common issues is excessive noise. Many homes built today have large amounts of insulation, yet the building materials used do not insulate well. Such materials may make sound through the roof, walls and even ceilings. Excessive noise may cause sleep disturbances to residents of the house. But if the FHA inspectors find out that the materials used are safe for human habit, they can give the green light for the operation of the house.
Another guideline that you must follow is to submit all the necessary appraisal forms and information to the agency. It is imperative to provide complete appraisals and other documents needed by the FHA. Without the necessary paperwork, the agency cannot verify the value of your property. For instance, without an appraisal stating the exact value of your house, you will be denied a loan in this case. However, if the appraisal states that your home has high value compared to others in the neighborhood, then the FHA may offer you a loan without requiring you to submit any further appraisal papers.
It would be good to check if the appraiser who does the FHA inspection has a certificate from NADA or another such accrediting bureau. You need not worry about their credentials, since most of them are trustworthy and reliable. However, it is still important to make sure that your inspector follows government guidelines when giving you a rating. The inspector should also check for other safety issues in the house, so as to give you a better evaluation. It is not enough to just look at the house and take a walk around. You need to evaluate the living condition as well in order to get an accurate FHA home inspection report.
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