An appraisal is required as part of the home loan process in Florida, but lenders do not require a home inspection. But it’s highly recommended that you do.
HUD even requires FHA or VA applicants to sign a form acknowledging that they have been advised to get a home inspection for their own protection. But it’s not a condition of the sale or mortgage process that you do.
There’s one exception: if the property is being re-sold less than 90 days after being refurbished (flipped), and the price is more than 20% higher the what the flipper paid for it. Appraisals on flipped homes are more thorough than those in a conventional transaction; using an experienced inspector with a reputation for thorough inspections is the way to go.
If it is spelled out in the contract that a home inspection is required, the loan underwriter will review the home inspection report before processing the loan, and all deficiencies noted in the home inspection must be cleared and reinspected prior to closing.
An FHA appraiser is required to check the home more thoroughly that is typically required in a conventional transaction. Some people refer to this appraisal as an inspection, but it is not a full home inspection.
While the FHA does not require a third-party home inspection, the Appraiser is required to note “health and safety” issues. The identified issues will need to be addressed in order to close escrow. In this case, use a home inspector certified in indoor air quality testing. These inspectors have the proper equipment to inspect issues with temperature, humidity, ventilation, mold from water damage, exposure to chemicals and the like.
Learn more at the National Association of Realtors’ House Logic