Do Home Appraisers Go Into Attics

Attics are hot in summer cold in winter dusty dirty and part of a complete home inspection.

Do home appraisers go into attics.

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. Rather the home appraisal is all about managing risk for the lender. The purpose is to protect the buyer and the lender from paying too much. An appraisal determines for the seller the buyer and the lender how much a home is worth.

The only change is that they require a photo of that head shoulders access in the report. If you have a functional attic basement or garage your appraiser will factor those assets into your overall home value. What does an appraiser do. Inspectors typically work by a set of standards.

That is the call of a professional. They are not requiring a full inspection and the appraiser is not qualified to make a full inspection. Do home inspectors go in an attic. The size of the garage or if the home has a garage at all will also contribute to the home appraisal value.

First things first during a typical home sale the appraiser does not work for the seller. 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. Home appraisals are conducted by a professional appraiser to give an estimate of the market value of a house or property. Hud fha requirements have not changes for attic and crawl space inspections.

Many home buyers who are looking to upsize their home take into consideration how much storage space a home has so this is also something that an appraiser will look at to determine value. What home appraisers look for. They are still head shoulders only. In most cases the square footage of these areas won t count towards your total home s square footage.

Let s start with the basics a home appraiser s job is to determine your home s fair market value. External factors of the house. However hud fha does not have a real definition of attic in their documentation. That comes out to a home equity percentage of 45 percent.

A home appraisal may not be top of mind when you re looking to buy sell or refinance a home. But maybe it should be. Fha appraisers fha has always had a requirement for appraisers to inspect attics.