So you have someone interested in buying your house that is using FHA Financing. What does that mean for the seller of the property? FHA has minimum requirements which must be met before the FHA loan can go through. The Appraiser assigned to the FHA sale must be FHA Certified so he/she can recognize any potential issues when inspecting the property. Some of the top things we find that don't meet FHA Requirements are listed here:
1. GFCI Plugs must be installed within 6 ft of a water source
2. No exposed wiring - this includes a missing faceplate cover
3. Peeling paint - this must be scraped, removed, and re-painted to pass FHA inspection