Buying A Home
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Appraisl Report

I'm curious for those that had issues with FHA and their appraisals, how did you find out?  We received our appraiser's report and I don't see any where on there where issues might have been identified.  I'm hoping that means we're good.

Re: Appraisl Report

  • I believe that most of the posters who had issues with FHA had it with inspection issues (things that had to be fixed based on the inspection report). 

    If your house appraised for the same or more than your loan amount, then you should be fine on that aspect.

    (Disclaimer--we have never done an FHA loan, so this comes from what I have picked up on this forum and NOT from personal experience).

    Crafts for Lily
    My Valentine Bookends (2~13~13, 2~15~09)
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  • We did FHA and our appraisal came in under the sale price. The builder lowered the price because of that. Nothing else came back that was concerning though.
    image
  • Ditto PPs - it's not the appraisal that will identify any problems, it's the inspection. As long as your appraisal comes back at or above sales price, that's all you need from them. If it comes back below, you'll need to renegotiate price, bring cash, or walk away from the deal. The inspection, though, is where any "issues" will come up.
  • Okay great! Maybe some people were using both interchangeably.  Our appraisal came in above our price which is great! I re-read the report last night and he said he didn't see anything wrong that would cause a problem.  YAY!! What's the next step I wonder?
  • imagehalfpin21:
    Okay great! Maybe some people were using both interchangeably.  Our appraisal came in above our price which is great! I re-read the report last night and he said he didn't see anything wrong that would cause a problem.  YAY!! What's the next step I wonder?

     Yes

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