3 THINGS THAT CAN HOLD UP AN APPRAISAL

There are 3 issues you may not be aware of that could easily hold up the transaction. Please note that we are located in California, and these rules may not pertain to your state.

Are there carbon monoxide "CO" detectors located in the home? One on each level?
Are there smoke detectors in the home?
Is the water heater double strapped?

Not all, if very many appraisers ask the contact this before visiting the home. This can cost the borrower an additional fee if the lender requests that the repairs be made, and the appraiser has to re-inspect the property. FHA loans require at minimum, these three things, whether it be for purchase or refinance. Conventional purchase loans would require this as well. There are cases where these items do not have to be present and in working order. A conventional refinance may not require these, although some underwriters may decide that these items be in place before close. I suggest that you address these items prior to the appraisal. It will make your life easier and it will also make your home safe and compliant.