FHA checklist

What to repair?

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
  • DAMAGED FLOOR WORN THROUGH THE FINISH
  • BROKEN PLASTER OR SHEETROCK.