Exterior-Only Appraisals to End

exterior-only appraisal



FHA announced the end of ‘exterior-only appraisals.
Why the H4P may not be taking off

FHA in it’s Info bulletin dated June 22nd said, “(FHA) is issuing this reminder that the temporary guidance concerning FHA’s re-verification of employment, and exterior-only appraisal scope of work option policies will expire as intended on June 30, 2021.” As you may remember last March FHA announced that exterior-only and desktop appraisals would be allowed to accommodate the impacts of the COVID-19 pandemic. Two months ago I interviewed John Dingeman- chief appraiser for Class Valuation. When asked what an exterior-only appraisal entails Dingeman said…

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1 comment

Alex Gottfried June 28, 2021 at 5:27 am

My experience with H4P is that most seniors don’t want to purchase another single family home. They are tired of cutting the lawn, shoveling snow and maintaining the property. They are looking to purchase a condo unit where these services are “handled”. Since 90+% of all condos in the US are not currently approved by HUD, condo approval becomes a major timing obstacle. Purchase transactions have a tight timeline which cannot wait for condo approval.

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