Home Buying in Wichita>Question Details

Discouragaed, Home Seller in Wichita, KS

Why would a buyer pay for an inspection, if qualifying for FHA loan? Doesn't FHA require own inspection?

Asked by Discouragaed, Wichita, KS Thu Apr 19, 2012

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FHA does not do a mechanical, radon or termite inspection. FHA appraisers in our location will follow FHA guidelines which would call out requirements listed, ie. chipped paint, gutter requirements etc.
0 votes Thank Flag Link Wed May 2, 2012
What everyone below has stated, sums it up. Beyond appraisal, all other inspection are optional for a buyer to order & pay for.
0 votes Thank Flag Link Fri Apr 20, 2012
No they don't. An appraiser will determine the home value. They will check basic safety issues and things like that, but that's it.
0 votes Thank Flag Link Fri Apr 20, 2012
Hello, and agree with the answers below! Many are confused with the terms inspection vs appraisal. "Appraisal" is simply the value report of the home, and does not always go into whether or not the home is in full working order. The "Inspection" is not required but highly recommended as this will tell you whether or not you are buying a "lemon" so to speak.

Hope that helps, and if you have anymore questions there are ALOT of tips and tricks to read up on at http://www.homeloanswichita.com, just click under the loan programs/FHA! Good luck...
0 votes Thank Flag Link Thu Apr 19, 2012
The FHA " inspection " is really just a more in depth appraisal - It will Not be as in depth as an independent Home Inspector / Inspection .... I highly recommend a separate private Home Inspector for every home purchase to review the home in depth. This is your chance to actually "re-negotiate" for any defects that are found. I know it costs more $$ .... and they may find Nothing .... But -- Better safe than sorry for sure !! - Good Luck : )
0 votes Thank Flag Link Thu Apr 19, 2012
Ok discouraged, I'm a realtor in Wichita so I can answer your question. Inspections are not required but are highly suggested on a home purchase. An inspector is checking to see if items are functioning correctly before you purchase. FHA requires an appraisal that sometimes confuses buyers as they think this is an inspection. The appraiser is there to check if home is valued correctly compared to comparable sales and if home looks to be in good condition for the lender. The appraiser does not check if items in home like furnace A/C are functioning properly. Hope that helps!
0 votes Thank Flag Link Thu Apr 19, 2012
In Kansas, anyway, FHA does not require an inspection. FHA does an FHA appraisal, which is typically more strict than a conventional appraisal. This appraisal is for FHA though, and not for you, the buyer. I would never ever buy a home without inspections. Though who pays for them is negotiable per contract, I would want to pay for my own inspections so there is no question who the inspector is working for. That is simply my opinion, having been in the business 26 years; it is also how I advise my clients. Find a Buyer Broker in your area to represent you throughout this process - someone with good references and experience, then trust them to give you the best advice.
0 votes Thank Flag Link Thu Apr 19, 2012
FHA doesn't always require an inspection but the do require a more rigorous appraisal than a conventional loan. But an FHA appraisal is no substitute for an inspection as the FHA appraiser is looking for entirely different issues than would a home inspector nor would it be as thorough as a professional inspection.
0 votes Thank Flag Link Thu Apr 19, 2012
Hi Doscouraged - depending on which state you live in the an inspection may not be mandatory. In Michigan an inspection is not mandatory and FHA does not require one. You should check with your Realtor and lender regarding the requirement in Kansas. Good Luck.

Cindy Schlee, Realtor
Grand Rapids, Michigan
0 votes Thank Flag Link Thu Apr 19, 2012
When purchasing a home using FHA financing, you are not required to obtain an "inspection," but you are required to obtain an appraisal. However, an inspection is highly recommended, and is customarily paid for buy the home Buyer.
0 votes Thank Flag Link Thu Apr 19, 2012
A buyer should pay for a home inspection so they know what condition the home is in. FHA does not require a home inspection. The appraiser will go out and may call out any safety issues but will not inspect the home. It is in the buyer's best interest to have a home inspection. Not having one would be like buying a car without taking it for a test drive to see if it runs.
0 votes Thank Flag Link Thu Apr 19, 2012
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