FHA and Condos

By admin, on May 3rd, 2010%

“A condominium is a form of fee ownership or long-term leasehold of separate units or portions of multiunit buildings that provides for formal filing and recording of a divided interest in real property. In contrast to a PUD, a joint share in ownership of the common area is part of the mortgaged . . . → Read More: FHA and Condos

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FHA Manufactured & Specilized Requiremants

By admin, on May 3rd, 2010%

Some specialized requirements:

Operating oil or gas wells
New construction – 75’ is the minimum distance of the dwelling from the oil or gas well site boundary
Existing house – 300’ is the minimum distance of the dwelling from the oil or gas well site boundary

Abandoned oil or gas wells
With . . . → Read More: FHA Manufactured & Specilized Requiremants

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FHA Repairs

By admin, on May 3rd, 2010%

An FHA appraiser may not require these repairs, but must include them in the overall condition rating and value opinion developed:

Worn floor finishes or carpeting
Missing handrails
Holes in windows screens
Cracked or damaged exit doors
Cracked window glass
Rotten or worn-out countertops
Trip hazards
Crawl space with debris or trash
Lack of all-weather driveway surface

Repairs . . . → Read More: FHA Repairs

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