Preparing an appraisal report for FHA is not as complicated as it once was. As far as taking pictures, one of the most important requirements that HUD makes is that any picture included in the appraisal report must be taken by the appraiser signing the report. Appraisers are not allowed to hire a trainee or assistant to take any photographs of the subject or comparable properties.
The only time MLS photos are allowed to be used in an appraisal report is when backing up an original picture taken by the appraiser. For example, if a comparable is located behind a security gate that the appraiser can not gain access to, the appraiser should include the picture of the gate with a MLS photo of the property in the appraisal report.
Subject photos should include the front and rear of the property at opposite angles to show all sides of the dwelling and should include improvements. The street scene should include a portion of the subject site and the grade of the vacant lot shown if proposed construction.
Comparable photographs must include at least one front view and should show compliance with Scope Of Work.
HUD encourages the appraiser to include additional photographs that represent positive or negative influence in value or deficiencies and/or adverse conditions. An example might be including a picture of evidence of infestation or exposed wiring.
Another example of including additional pictures as support would be if the appraiser could not view the attic because there was a large piece of furniture blocking the opening. In addition to commenting in the comment addendum of the appraisal, the appraiser should include a picture of the obstructed entrance to the attic as verification that the appraiser could not see in the attic.
And FHA appraisal are very similar to appraisals performed for other lenders. By investigating the requirements, appraisers can provide FHA with a accurate and complete picture of properties they are looking to insure.
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