FHA Compliance Inspections for Banks and Mortgage Lenders Using HUD-92051 Compliance Report ….
When is an FHA Compliance Inspection Required?
While all FHA loans require property appraisals, not all of them will require the submission of an FHA compliance inspection. These are typically only needed
in specific circumstances. For example, if you are purchasing a home that is going through major remodeling or reconstruction or if it is being built brand new then you will usually be required to have this inspection done.
In some cases, you may need to have more than one inspection, as well as a final inspection, completed on the property in order to qualify for an FHA loan. Examples:
1. Repairs specified by an FHA Appraiser.
2. When there are conflicting Appraisals.
3. When Appraisals conflict with a Home Inspection.
4. Section 8 repair issues.
5. Required remedies for WDO - termites, or mandatory Roof repairs.
As a FHA Compliance Inspector, Dan can schedule and complete most inspections within 48-72 hours of your request with sometimes being the same day. Here is what Dan needs to complete your request:
- Address of the property to be inspected
- Materials list you want inspected for new construction OR list of required repairs from the appraiser on existing housing
- Property contact name, telephone number(s), and email (i.e. Builder, Realtor, Home Owner, etc)
- Bank, Mortgage Lender, contact name, address, email and phone number
- Builder name and address, if applicable
- FHA case number (i.e 723-XXXXXXX-945)
Compliance Inspections will be performed to the guidelines specified by the Housing and Urban Development (HUD) with no exceptions using HUD’s Form 92051. New construction must be fully completed and ready for buyer to move in - at time of our inspection. This includes but is not limited to: appliances completely installed and operational, window screens on, landscaping materials completed and fully cleaned.
The fee for this service is $200 at each inspection, plus mileage for those properties more than 30 miles round trip from I-435 & State Line Rd in Kansas City, MO.
Properties that are not complete and/or do not pass, will be assessed an additional inspection fee at each additional inspection. If you are a new lender working with Dan, you may be required to pay for the inspection via credit card at the time of inspection until a relationship has been established.