The FHA requires a Minnesota property to be safe and sound.
The Federal Housing Administration (FHA) does not require a home inspection before approving a loan, but it does require an FHA appraisal that evaluates a property's market value, its general safety and structural soundness. In Minnesota, a few specific guidelines address FHA requirements to ensure that a property is acceptable for purchase.
Bedroom Access and the Roof
According to the Home Inspections of Minnesota website, the state primarily follows established FHA safety guidelines. The FHA requires a seller to repair "inadequate access from bedrooms to the exterior of the house and leaking or worn out roofs." These concerns pose a safety risk for potential home buyers and must be addressed.
Foundation, Paint, Heating, Plumbing and Electric
Minnesota requires a seller to repair structural problems affecting the soundness of the property. According to the FHA, an example of a structural problem is foundation damage caused by excessive settlement. The FHA inspection checklist includes the evaluation and repair of "defective paint surfaces in homes constructed pre-1978 and defective exterior paint surfaces in homes constructed post-1978 where finish is otherwise unprotected." Inoperable heating, insufficient plumbing and defective electric wiring also affect the soundness of the property and must be repaired.
Standing Water, Damp Basements and Hazardous Materials
Minnesota adds a few additional inspection requirements to the FHA standard appraisal/inspection guidelines. Home Inspections of Minnesota states that standing water against the foundation, an excessively damp basement and the presence of any hazardous material on the property must be resolved before FHA financing is approved.
Proof Repairs Were Completed
As part of the Minnesota FHA inspection guidelines, the seller must provide proof of completed work done on any mandatory repairs. The FHA inspector, also known as the FHA appraiser, verifies that the repairs were effectively performed. If extensive repairs are necessary, it's possible to request FHA help with rehabilitation.
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