Selling old house and FHA Assessors, should I worry?

[Michael Jackman]

I am looking to accept offers on a 1890's farmhouse I have flipped but I'm hearing stories about FHA assessors finding/digging things up that will break a deal. Have you found this to be reality?

I have spent 4 years in the place fixing it up. And in the 4 years there hasn't been any structural issues. I'm not worried but maybe there are things I've missed?

If you have come across things that assessors have found that I might be on the look out for, I would appreciate the feed back.

[Michael Jackman]

Originally posted by @Marc Winter:

Is an assessor different than an appraiser? I've done dozens of FHA deals, and as long as your property has no health/safety issues, adequate electric service throughout, decent roof, solid siding, handrails where needed, no cracked walkways, no termite or carpenter ant damage, you should be ok.

If the FHA lending limits in your area are at or above the sales price you are accepting, and the buyer has a strong pre-approval for mortgage, I'd let happen. Just make sure the appraisal is done ASAP, so you will know sooner than later.

Good luck.

 Marc,

There are no health issues and I think you are right, it might be the appraiser, Either way, I wanted to see what the more experienced have come across and I really appreciate the help.

Just found out there is another offer that is conventional and above asking price! I think everything worked out.

Sweat equity goes a long ways when you get the right property. I will try to keep this updated with the process or I might later start a new post with all the info on this property.