My landlord is refinancing the home that I live in and said the bank will be doing an inspection of the house.

Question

Has anyone else had this? Do you know what the inspection will entail?? Are they going to look in cupboards and closets etc? I am running around trying to make sure everything is clean...I am panicing a little, How long do these normally take?

Answer 1

They are doing an appraisal not a home inspection. The appraiser will be measuring the outside of the home and will be taking exterior and interior photos, the appraiser will be there about 1 hour.

Answer 2

Don't fret about it. They will merely give all the rental units a cursory look to determine the approximate value of the structure. (And they won't care if it's clean or not either)

I venture they won't be inside your unit for more than five minutes.

Answer 3

they just want to make that the house is in good condition and not about to fall apart they'll just look around at the construction of the space and it depends how big the house is i guess and the eagerness of the inspector to get a timing estimated

Answer 4

They don't want to look at your personal property.  The appraiser needs to look at the house itself and probably measure the rooms.  Routine stuff.  Yes, you are needlessly panicing.

Answer 5

A real estate appraisal is needed to do the loan. Part of the appraisal is a home inspection for most investment property loans. Thus, the appraiser will probably need to enter the house. The purpose is check the overall property condition, verify that all appliances work, etc..  

The appraiser will not be in the house very long. The appraiser is inspecting the property condition, and not to see how neat you keep the place.  So, you can relax.

Answer 6

just coming in to appraise the property no sweat

Answer 7

They will look at the general condition and square footage, count the rooms and leave.

Just neaten up and don't sweat it.

Answer 8

They are not even likely to want to enter unless he is claiming it is worth more then it is.

Answer 9

Depends on the size of the house. Usually only an hour or two, and they check things like square footage, the size of the lot, the condition the house is in (cracked plaster, worn out carpets, etc.). They might take a closer look at the cabinets if they look run down. They also checked the outlets at my house when we had an inspection. Basically, anything that might have an impact on the house's worth.

Good luck. :-)