FHA Appraisal Requirements – Agents/Brokers Master the Art of FHA Appraisals
By Isaac Peck, Associate Editor
Appraising real estate can seem like a mystery, even for experienced real estate agents. FHA appraisal requirements can also cause problems for many real estate deals, leading to frustrating delays and even lost sales.
As more and more home buyers seek loans from the Federal Housing Administration (FHA), agents and brokers need a more proactive way to ensure that a routine FHA inspection won’t spell disaster for their clients. But where can you find such information?
According to veteran FHA appraiser and author Terry Larson, you have just found the solution: FHA Inspections: An Appraiser’s Quick Start Guide for Real Estate Agents. The Guide is an interactive eBook that, Larson says, is an indispensable, easy-to-use, clickable guide for real estate agents who need to understand the ins and outs of FHA appraisal requirements. The Guide covers everything you need to know about appraising real estate. With this guide, you can:
- Anticipate official appraisals
- Move toward closing deals faster, and
- Cut off the risk of losing a sale because of an unexpected FHA inspection problem.
- Take care of inspection problems before the appraisal inspection and keep the closing process going smoothly.
- Close quicker and take the stress out of the process for seller and buyer.
“There is not another resource like this anywhere in the industry literature,” Larson says. “It speeds up the appraisal process and helps you avoid unnecessary hassles and delays, benefiting home buyers and sellers, selling and listing agents, and other hard-working real estate professionals.”
Larson says the Guide offers a fast way to answer agent/broker questions about FHA real estate appraisals. “You can find information on FHA appraisal requirements and standards in the Department of Housing and Human Development’s handbook, but that source is hundreds of pages long. This handy eBook is compatible with any computer, e-reader, tablet, or hand-held device, so you can take it with you as you inspect potential properties,” Larson says.
The key, Larson says, is the easy-to-use, touch-and-click interface that allows you to find answers quickly and guides you through every aspect of the appraisal process, from pre-appraisal checklists to FHA loan applications. Fully interactive contents include:
- FHA loans overview
- Prepping for appraisals
- Site and dwelling guidelines
- Property condition reports
- REO properties
- Property flipping
- Interpreting results
- Handy FAQs
- And much, much more
Larson says that after working with this eBook, many agents wonder how they ever closed a sale without it.
The Guide, which comes with an unconditional money back guarantee, is offered through Working RE Magazine. Working RE is published by insurance provider, OREP.org. Agents/brokers who purchase their E&O/GL insurance from OREP.org, receive a discount on the Guide. Click for more on the Guide.
About the Author
Isaac Peck is the Associate Editor of Working RE Magazine and Marketing Coordinator at OREP.org, a leading provider of E&O Insurance for appraisers, inspectors, and other real estate professionals in 49 states. He received his Bachelors in Business Management at San Diego State University. He can be contacted at Isaac@orep.org or (888) 347-5273.