Failed FHA appriasal?
If the house I'm buying fails the FHA appraisal, do I have to have it reappraised when the issue is fixed? And would that be charged at the full price again? I live in Maine--and we have not had the place appraised yet, but I think they might take issue with one or two small things.
Comments
Unless the house is a complete disaster, they would approve the house subject to making a list of repairs. They would then come back and see that the repairs are completed. If there are some obvious things that need to be repaired it would be wise to make the repairs first.