Real Estate

The appraiser is not a home inspector

People always want to know if a house will go FHA or VA. If the buyer is getting a VA loan, they comment on the VA inspection. So let’s set a few things straight. There is no FHA or VA inspection so to speak. There is simply a home inspection and an appraisal.

While the buyer pays for the appraisal, the appraiser is hired by the bank to verify that the collateral (the house) is adequate for the amount of money that they are loaning the buyer.

If the loan is a FHA or VA loan, then the appraiser is required to verify that the house is safe, sound and secure; meaning that the exterior doors are solid core, the hot water tank is up 18” in the garage, no peeling paint and no broken windows or exposed wires., etc.

I would not expect the appraiser to climb on the roof, in the attic, or under the house. The appraiser does not get a copy of the home inspection.

As long as the appraiser does not require any repairs prior to closing or the seller is willing to make the required repairs, the house will go FHA or VA. This does not mean that there are no mechanical issues with the home.

The home inspector is hired by the home buyer to inspect the property. The home inspector should climb on the roof, check the structure, and look for electrical, plumbing issues as well as check the heat and cooling system. This inspection should be extensive and if concerns are found that are more extensive than the home inspector’s expertise, then further inspections may be recommended by licensed professionals. Regardless of what the home inspector finds during his inspection, the buyer may or may not choose to buy the house. This is not a pass, fail inspection. The inspector’s job is to identify the mechanical aspects of the house that are not functioning.

The buyer may ask the seller to repair some or all of the repairs that the home inspector has discovered. In the purchase contract, the buyer requested that the seller repair up to a certain dollar amount. If the repairs are more than the dollar amount in the contract, the seller may not want to make the repairs requested by the buyer. If that happens, the contract may bust.

The home inspection is important for the buyer because it tells them exactly what they are buying. It has been my experience that most buyers do not climb under the house or in the attic prior to making an offer. And even if they did a majority of them would not know what they were looking at; therefore, it is vital that they get a home inspection, so they can make an educated purchase.

If you have real estate questions please feel free to call me at 405-213-2992 or visit my website  I would love to help you with all your real estate needs.


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