Chapter
1 Appraisal & Property Requirements Page
1-24 1:
Roofs: The
covering must prevent moisture from entering and provide reasonable future utility,
durability and economy of maintenance. The appraiser must visually examine the
roof to determine whether deficiencies present a health and safety hazard or do
not allow for reasonable future utility. (4905.1
REV-1, 2-12.) Life
Expectancy: The appraiser must exercise sound judgment when evaluating roof
condition. The roof should have a remaining physical life of at least two years.
If the roof has less than two years remaining life, then the appraiser must report
this condition in the appraisal report. Snow
Covered Roofs: A.
In areas where the snow is likely to lay for more than a few days:
1: The
appraiser is required to make an extra thorough inspection of the attic and all
visible roofing areas for signs of failing roofing materials.
2: If
there is evidence of damage and/or leaks the appraiser is to condition for further
inspection. 3:
If there is no evidence of damage and/or water leaks. The borrower must be informed
that the roof was snow covered at the time of the appraisal and that it is acceptable
to the purchaser without any warranty or guarantees from HUD-FHA. B.
In areas where the snow is not likely to lay for more than a few days a clear
roof inspection is to be obtained prior to closing. 1:
The appraiser is required to make a thorough inspection of the attic and all visible
roofing areas for signs of failing roofing materials and report all roofing deficiencies
in the appraisal report. 2:
If the Underwriter determines, due to unusual weather conditions, it is not
possible to obtain the clear inspection prior to closing, then the purchaser and
seller are to sign an acknowledgment that indicates:
i:
The roof was covered with snow at the time of the appraisal inspection,
ii:
The snow is likely to continue to cover the roof for several more days and
that the roof cannot be inspected prior to loan closing
iii:
HUD-FHA makes no guarantees or warranties as to the roofs condition.
3:
A clear roof inspection must then be obtained prior to submission for FHA
Insurance or an escrow account equal to 1 ½ times the cost of a new roof is to
be established in the event repairs or a new roof is found to be needed when the
inspection takes place. (Certification is to be in the insuring package.) C.
Re-Roofing: FHA will accept a maximum of 3 layers of existing roofing.
If more than 2 layers exist and repair is necessary, then all old roofing must
be removed as part of the re-roofing. (4905.1 REV-1,
2-12) D.
Inspections: A person determined to be qualified by the lender should make
a certification as to the condition of the roof and the completion of work requirements.
E.
Flat Roof: FHA no longer mandates automatic inspection of flat and/or unobservable
roofs. The appraiser must note in the appraisal that he/she could not adequately
observe the entire roof area and state which area(s) were unobservable. As with
any other type of roof the appraiser is to look for signs that would indicate
a possible roof problem. Based on the information reported, either the appraiser
or underwriter may call for a roofing inspection. 2:
Attics: A.
It
is the homeowner/seller’s responsibility to provide clear access to these areas.
FHA appraisers are required to observe the attic area. B.
When there is no safe access to the attic the appraiser is to note the inaccessibility
in the appraisal report. C.
Inspection:The attic must be examined whether access is by pull-down stairway
or scuttle. At a minimum, the appraiser must enter head and shoulders into the
attic. |