San Diego Appraisals - Brandlin Appraisals Information

FHA Heating and Cooling Guidelines

28976073876_f57ed0c10b_bI regularly receive questions regarding FHA appraisals and recently more clients have had questions regarding the rules for the heating and cooling system for an FHA, so I am going to take this opportunity to explain.

FHA Heating and Cooling requirements

When your home is inspected by the appraiser, they will inspect the heating and cooling system in your home. A cooling system is not required to meet FHA guidelines, the only guideline is that if there is one it must work. If it does not work the appraiser is required to note what condition it is in, what is wrong and how it may affect the marketability and value of the home. A heating system however is required per FHA guidelines and provide healthful and comfortable condition as well as meet the safety, soundness, and security rules for the property.

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Appraiser and Agent Relationships


Agents and Appraisers have been rumored to not get along that well, but I would like to crush this rumor by saying this is not always true. Appraisers and realtors can benefit greatly from communicating with each other and I found this to be very true in practice.

The more information the agent can share with the appraiser the better the appraiser can understand the property and determine the best market value. Having said that discussing the value is not allowed so be sure to not share this information to keep it a unbiased appraisal.

I would like to provide a few ways that agents and appraisers can benefit from a good relationship and open communication.

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Why Appraisals are Important


Once more the appraisal industry is being put under question as to why they are important for the home buying and selling process. Currently, the FDIC, Federal Reserve, and the Treasury Department issued a joint proposal that would eliminate the need for an appraisal on mortgages for less than $400,000.

This proposal is being sold to consumers as a way to save money and time. This sounds appealing, however, the price of an appraisal is minimal compared to the what the loan officers and banks are making and as for the appraisal process there are various factors that could be changed that could shorten the time involved significantly, such as use of the Appraisal Management companies (AMC’s) being eliminated.

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A Quick Glance at the Appraisal Process

4893848354_8f731d1af1_bAre you a first-time home buyer? Does the appraisal process confuse you? Appraisals can be confusing which is why I would like to take a minute of your time to explain the appraisal process.

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Fixer Upper


Buying a fixer upper home has become increasingly popular in recent years, in large part to the numerous TV shows that demonstrate all the possibilities you can do to a home. This has been an attractive idea to many home buyers making it more affordable to buy a home due to the increasing home prices.

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Granny Flat


Granny Flat Appraisals

A granny flat also referred to as a mother-in-law suite, or guest house. A granny flat will most often include bedroom, living room, kitchen, bathroom and a separate entrance.  A granny flat can be attached or detached however without permits it will not be given any value in an appraisal or sale of the home.

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Can you have a Good, Fast & Cheap Appraisal?


Is it possible to get a good, fast and cheap appraisal?

With the surge of home sales appraisers have been busier than ever working diligently to complete appraisals in an effective and efficient manner. Don’t get me wrong this is a good thing for appraisers, the problem is that lenders and AMC’s are expecting the impossible, a good, fast and cheap product.  An appraiser’s job is to provide a necessary and valuable service that takes time and effort, and this cannot be accomplished good, fast and inexpensively.

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Appraisal Lingo


Have you received an appraisal and found yourself confused by all the language used? My goal with this blog is to make your life a bit easier by explaining some of the language in appraisals that can often make it hard to understand.

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Pricing a Home


Overpricing a home has been proven to slow down the selling process or not selling a home at all. It is crucial to price a home accurately so that you can sell your home quickly and for the best value.

All of this can be accomplished with a pre-listing appraisal which will determine the fair market value of your home.  Let me break this down for you.

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Appraisal Contingency


What is an Appraisal Contingency?

Let me begin with a quick explanation of what an appraisal contingency plan is.  An appraisal contingency allows you to terminate a legally binding contract if the appraised value is lower than the contract price. In the past, the appraisal contingency was the appraisal the bank ordered however, due to some recent changes in how properties are being valued this may be changing.

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