The FHA appraisal protects you from buying a home with safety, structural, or sanitary issues. Here is the complete checklist of what passes, what fails, and how to fix common problems.
The seller can fix the issues and have the appraiser re-inspect, you can renegotiate the price, or you can walk away. Your earnest money is typically protected by the FHA appraisal contingency.
FHA appraisal fees range from $500-$800 depending on location. In Nevada, the typical fee is around $600. The buyer pays this fee, but it can be covered by seller credits.
No. The FHA appraisal is required on all FHA purchase loans. It protects both you and the FHA by ensuring the home meets minimum property requirements and is valued fairly.
Typically 7-10 business days from when it is ordered. In busy markets, it can take up to 2 weeks. Your lender orders the appraisal through the FHA portal.
