FHA FHA Property Inspection & Condition Assessment

Question 1

Which FHA requirement mandates that an appraiser observe and report on the condition of the roof during a property inspection?

Accepted Answer

HUD Handbook 4000.1

Answer

FNMA Selling Guide

Answer

RESPA Section 8

Answer

TRID Disclosure Rule

Question 2

Under FHA guidelines, what minimum distance must a private well be from a septic tank absorption field?

Accepted Answer

100 feet

Answer

50 feet

Answer

75 feet

Answer

25 feet

Question 3

An FHA appraiser inspects a property and finds peeling paint on exterior surfaces of a home built in 1975. What is the required action?

Accepted Answer

Require repair or stabilization of all defective paint surfaces

Answer

Note it as cosmetic and move on

Answer

Recommend a lead paint test only

Answer

Decline to appraise until repainted

Question 4

Which condition would cause an FHA appraiser to call out a property as 'uninsurable' (UI) rather than 'insurable with repair escrow' (IE)?

Accepted Answer

Inoperable heating system in a cold-climate property

Answer

Minor cracked drywall

Answer

Missing handrail on interior stairs

Answer

Cosmetic staining on carpet

Question 5

What does FHA require an appraiser to do when a property has an addition that lacks required permits?

Accepted Answer

Report it and note any adverse effect on value or marketability

Answer

Ignore it if the addition appears structurally sound

Answer

Automatically call out the property as uninsurable

Answer

Require demolition of the addition before appraisal

Question 6

Under FHA guidelines, what is the required minimum ceiling height for finished basement areas to be included in the gross living area (GLA)?

Accepted Answer

7 feet

Answer

6 feet

Answer

6 feet 4 inches

Answer

8 feet