Do Home Appraisers Go Into Attics

Let s start with the basics a home appraiser s job is to determine your home s fair market value.

Do home appraisers go into attics.

The purpose is to protect the buyer and the lender from paying too much. They are most often conducted at the behest of the lender. Hud fha requirements have not changes for attic and crawl space inspections. But maybe it should be.

That unobtrusive ceiling panel is the gateway to a wealth of information. The size of the garage or if the home has a garage at all will also contribute to the home appraisal value. Fha appraisers fha has always had a requirement for appraisers to inspect attics. Inspectors typically work by a set of standards.

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. If you have a functional attic basement or garage your appraiser will factor those assets into your overall home value. Do home inspectors go in an attic.

However hud fha does not have a real definition of attic in their documentation. That is the call of a professional. External factors of the house. An appraisal determines for the seller the buyer and the lender how much a home is worth.

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. They are still head shoulders only. What home appraisers look for. They are not requiring a full inspection and the appraiser is not qualified to make a full inspection.

Rather the home appraisal is all about managing risk for the lender. What does an appraiser do. A home appraisal may not be top of mind when you re looking to buy sell or refinance a home. That comes out to a home equity percentage of 45 percent.

In most cases the square footage of these areas won t count towards your total home s square footage. Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. 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.