Deanna Valeo
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12 most common FHA repairs

"Do not anticipate trouble, or worry about what may never happen. Keep in the sunlight" ~ Benjamin Franklin


Recently we had a Realtor partner that had questions about repairs issues on a listing they had and a potential buyer using a FHA loan.  Since 2005 FHA loans have been less risky to sellers (and listing agents). 

Below is a list of the most common items that still must be repaired on a FHA listing.  

You can also read up more on this at http://www.hud.gov/offices/hsg/sfh/faqs/atl1val.cfm and http://portal.hud.gov/hudportal/documents/huddoc?id=DOC_14650.doc
  and http://homebuying.about.com/od/financingadvice/qt/FHA-Repairs-to-get-an-fha-loan.htm

 
The purpose of a repair is to correct deficiencies, which may affect the health and safety of the occupants or the continued marketability of the property. If possible, I suggest that you make any repairs to your home prior to the appraisal. This will improve the appraisal process as well as the marketability and help the sale or refinance of your home go smoothly.

 
1. If the home was built prior to 1978, chipping, peeling paint must be scraped and painted. This includes interior, exterior, garages, sheds, fences, etc.
 
2. Any useful components (appliances, floor covering, etc.) of the home, especially the roof, should have 2 years of useful life remaining. A roof should have no more than 3 layers of shingles.
 
3. Broken windows and doors should be replaced.
 
4. The cause of negative drainage must be cured (i.e., improve drainage away from house, gutters, french drains, etc.).
 
5. Health and safety hazards (i.e. electric garage door opener won't reverse with resistance; burglar bars). GFIC outlets are not an FHA requirement.
 
6. Abandoned inoperable wells must be capped and sealed by a licensed well sealing contractor.
 
7. Safety handrails should be installed in open stairwells of three or more stairs.
 
8. Infestation of any kind should be exterminated (i.e., insects, mice, bats, etc.).
 
9. Damaged or inoperable plumbing, electric and heating systems should be repaired. The appraiser will check these areas.
 
10. Structural or foundation problems must be repaired.
 
11. Flammable storage tanks must be removed and filler cap sealed from the inside (i.e., buried oil tank). In Charlotte if the tank has been inspected and found not to be leaking it can be foam filled you will need a certified service provider.
 
12. If there is a crawl space, it will be the homeowner's responsibility to make this area accessible so that it can be thoroughly inspected. The same is true of attic spaces.
 
Have a Fantastic Week and Remember We Are Here For You.

Sincerely,


The Valeo-Croy Team - Call today:  (704) 488-1421
Todd Croy - NMLO license #91428
Deanna Valeo - NMLO license #91421
 
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