Buyers who are purchasing a home with an FHA-backed loan will be required to have an FHA appraiser do an appraisal on your property to ensure the home is to FHA standards. Often times, FHA will ask for a Home Inspection as well for older homes. Without this inspection, which the buyer pays for, the FHA will not insure the loan and you may lose out on the sale. If your buyer tells you they have an FHA inspector coming to the home, there are a few things you can do in advance to give you an edge when passing the FHA home inspection.
- Clean-Up Outside- make sure there are no chemicals or other hazardous materials laying around the outside of your home, including pool materials. Make sure you have no cracked or broken windows, tripping hazards outside around the property and that all your gutters are clear and draining water away from the home so that there is no standing water or mud.
- Clear Ways to Attics and Crawl Spaces- The inspector will need easy access to these spaces. Crawl spaces normally must have at least 18 inches of clearance. There should be adequate air flow in the attic to guard against mildew and no standing water or leaking in both the attic and basement.
- Check the Paint- Was your home built prior to 1978? Older homes usually have lead based paint that should have been removed but may not have been. If your home hasn’t been repainted since 1978, you will need this done before you can pass an FHA loan.
These are some of the most common problems that older homes face when trying to pass an FHA loan. If you aren’t sure whether your home will stand up to their test, contact Beryl Project Engineering to get a complete list of what to expect during the inspection!