planned to cash buy . just wonder if I could leverage a FHA appraisal to make sure everything is safe and probably a lower value for a better negotiation.
Nope, a legit FHA appraisal can't be ordered without an FHA case number, which in turn requires a fully ratified (seller signed) purchase contract, or that you own the home.
You can find an FHA-approved appraiser and ask her to do it to FHA standards. But it will not be an appraisal that could actually be used for an FHA loan.
@Chris Mason. Thanks for your info
@Wai Hong Wong
Not sure why you think an fha appraisal would be lower than any other appraisal? Comps are comps....fha just has their appraiser Also do an inspection for fha lending standards....but it doesn’t affect value.
@Wayne Brooks this is what I learnt from online article. it claims the lower value is due to stricter requirements. maybe it is only a misunderstanding.
@Wai Hong Wong Yeah, not true. The fha appraiser simply notes minor physical issues that must be repaired for fha, that would be okay for conventional, but it has nothing to do with value.
@Wai Hong Wong Just to add here, you are probably better using your CASH PURCHASE as better negotiation leverage than the appraisal actually.