If you have been in and around the real estate industry for very long you will remember the time when everyone hated dealing with FHA and the appraisal process that was involved in getting this type of loan.  Then several years ago FHA changed and the appraisal process was just about the same as a conventional appraisal process, with a few exceptions.  Now we are seeing property issues with all types of loans as many types of properties have to be appraised twice.

Most of these properties are either properties that have been owned for less than one year or cash out refinances. For properties that have been renovated or remodeled, underwriters are asking for pictures and receipts to prove the quality and scope of the stated renovation and changes. We are being told that it will get worse before it gets better so if you are a buyer of a property; a seller; or a cash out refinance, you may be impacted by what is now being required.  Just know it going in and you’ll be fine.