Question Details

J, Home Buyer in 80205


Asked by J, 80205 Fri Jan 9, 2009

FHA APPRAISAL QUESTION??My offer just got accepted on a foreclosed home in denver, I am using FHA financing. I found out the FHA appraisal went thru fine but....I know the appraisal was done without the water turned on and without a working furnace (the wires had been cut). Should I have any concerns as the homebuyer, it seems like the appraiser didn't do his/her job????? thanks.

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If you were satisfied with the home inspection, and the appraisal went thru just fine, then what exactly is the problem? If you're worried about the appraiser "doing his job," I would suggest that you leave that to the lender. If you're questioning the validity of the appraisal, then again, I would suggest that that is an issue for the lender. In other words, "if it ain't broke, why try to fix it?"

0 votes Thank Flag Link Fri Jan 9, 2009
thanks for the answers. I did have an inspection done ad week after the appraisal was performed by my lender. I had to delay my inspection because the water meter needed to be replaced in order to get the water turned on and the wires to the furnace were cut. So this is how I know the appraiser didn't have the water or furnace on when the appraisal was performed.
0 votes Thank Flag Link Fri Jan 9, 2009
Here's the corrected link:

Sorry about the broken link below.

0 votes Thank Flag Link Fri Jan 9, 2009
Hi J!

You should already have signed a HUD form titled "For Your Protection,Get an Inspection." Do you recall seeing that form? If not, here's a link to it: It's a very straightforward disclosure regarding the purchase of homes with an FHA loan, and the difference between an appraisal and an inspection. Best advice I could give you is to read this form carefully. Next step would be to discuss the situation with your Buyer's Agent. You do have one, don't you?

Best regards,

0 votes Thank Flag Link Fri Jan 9, 2009
There should be a section on the appraisal where the appraiser will indicate that the water was turned off and that the furnace was not working. The underwriter should condition for a compliance inspection where the water will have to be turned on and the furnace working. You will not be able to close without those being done.
The appraiser's job is not to inspect the home as you may think of it only to note on the report that the home is in working order.
0 votes Thank Flag Link Fri Jan 9, 2009
I would highly recommend for you to obtain an inspection on property. Inspection will cover over 35 pages of report published for your review. It will disclose all your concerns plus potential more.

Appraisal determine value of home represents the lender.
Web Reference:
0 votes Thank Flag Link Fri Jan 9, 2009
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