Wherever you have a home listed for sale (Valley Cottage, Nyack, New City, Tappan, or anywhere else), this information is important to have and take to heart. 

The Federal Housing Authority (FHA) lends money to homebuyers with solid credit, but (typically) with a low down payment. Since they are lending the money, they can, and do, have stringent requirements for the houses that they lend money for. These are issues that a home inspector may (should?) flag, but the critical component for an FHA mortgage is the appraisal.

Here is a list of common issues (any of which can cause the FHA lender to turn down the deal) that an appraiser could flag when the buyer is using FHA financing:

• Peeling paint in homes that were built before 1978. This includes exterior paint (foundations, decks, garages, siding, etc.) as well as interior.

• Safety issues like as a missing handrail on a deck or stairway.

• Missing, falling or unattached gutters.

• Exterior doors that don’t open and close correctly.

• Exposed wiring and uncovered junction boxes.

• Non-functional heating systems.

• Significant plumbing issues.

• Active pest (termites, mice, roaches, etc.) issues. This may require an inspection.

• Leaky or defective roofs and roofs with a life expectancy of fewer than three years.

• Rotted windowsills and wood trim.

• Missing appliances that are almost always sold with a home, such as a stove.

• Kitchen appliances that do not function.

• Having bedrooms without windows for proper egress by a human.

• Foundation or structural defects.

• Having an actively leaking basement.

• Evidence of standing water in a crawl space.

• Empty swimming pools or pools that don’t have a working pump.

• Ripped or badly damaged screens.

• A fence in disrepair.
  

From a seller’s perspective, it is always smart to make these kinds of repairs before listing your house. Doing so will attract more agents and buyers to your house (which can equate to a quicker sale) and likely will net you a higher sale price.