FHA checklist

Many buyers in today's market are choosing FHA financing.  This financing does have strict guidelines a property must meet, but they are overall for the safety and security of the homeowner.  When you are thinking of selling your home, this is a good checklist to use as a guideline when you are making repairs.  If you are purchasing, this is a good list to take with you EVEN IF YOU ARE NOT FINANCING FHA.  Why?  You want to also be mindful of the re-sell value of the home after you've owned it.  This is a good list of repairs that may be needed.

Safety and Soundness:

• NO MISSING AND ROTTED WOOD AND SIDING
• NO UNSAFE PORCHES AND DECKS
• NO MAJOR FOUNDATION CRACKS
• NO SIGNIFICANT REPOITING/CEMENT DASH NEEDED
• ALL DEBRIS HAS BEEN CLEANED UP/TRASHED OUT
• ALL EXTERIOR DOORS MUST WORK
• IF PIPES ARE ASBESTOS WRAPPED, OKAY UNLESS DETERIORATING
• NO SIGNIFICANT WALL OR CELING CRACKS
• NO SIGNIFICANT VISIBLE HOLES IN THE WALLS OR CEILING
• NO WATER DAMAGE OR STANDING WATER IN THE BASEMENT
• NO RODENT INFESTATION
• HANDRAIL REQUIRED ON ANY STAIRS WITH 3 OR MORE RISERS
• QUICK RELEASE LATCHES MUST BE PRESENT IF THERE ARE BARS ON THE WINDOWS
• GARAGE DOOR MUST HAVE AN AUTOMATIC REVERSE FEATURE

TYPICAL CONDITIONS THAT REQUIRE REPAIRS OR REPLACEMENT:

• TERMITE OR CARPENTER ANT DAMAGE
• DAMAGED, INOPERABLE OR INADEQUATE PLUMBING, HEATING, ELECTRICAL SYSTEMS-(buyers want breakers, 3 pronged outlets, updated professionally)
• BROKEN OR MISSING FIXTURES, ROTTEN COUNTER TOPS
• ANY STRUCTURAL FAILURE IN FRAMING MEMBERS
• LEAKING OR WORN OUT ROOF
• DEFECTIVE PAINT SURFACES
• MASONRY AND FOUNDATION DAMAGE
• DRAINAGE PROBLEMS</