Do Home Appraisers Go Into Attics

But maybe it should be.

Do home appraisers go into attics.

Hud fha requirements have not changes for attic and crawl space inspections. An appraisal determines for the seller the buyer and the lender how much a home is worth. What home appraisers look for. That unobtrusive ceiling panel is the gateway to a wealth of information.

In most cases the square footage of these areas won t count towards your total home s square footage. The size of the garage or if the home has a garage at all will also contribute to the home appraisal value. That comes out to a home equity percentage of 45 percent. Fha appraisers fha has always had a requirement for appraisers to inspect attics.

A home appraisal may not be top of mind when you re looking to buy sell or refinance a home. What does an appraiser do. Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. They are most often conducted at the behest of the lender.

The purpose is to protect the buyer and the lender from paying too much. They are not requiring a full inspection and the appraiser is not qualified to make a full inspection. Depending on your property s condition and size the appraisal process can be a quick 15 minute visit or a two to three hour examination. If an appraiser determines that your home is worth 200 000 and you owe 110 000 on your mortgage loan you have 90 000 in equity.

Inspectors typically work by a set of standards. External factors of the house. Appraisers must be qualified and certified in your state and in most states adhere to the appraisal foundation s uniform standards of professional appraisal practice. If you have a functional attic basement or garage your appraiser will factor those assets into your overall home value.

Rather the home appraisal is all about managing risk for the lender. Let s start with the basics a home appraiser s job is to determine your home s fair market value. Attics are hot in summer cold in winter dusty dirty and part of a complete home inspection. First things first during a typical home sale the appraiser does not work for the seller.

Many home buyers who are looking to upsize their home take into consideration how much storage space a home has so this is also something that an appraiser will look at to determine value. That is the call of a professional. They are still head shoulders only.