Property Inspection Requirements After Arkansas Severe Storms

This guide outlines the property inspection requirements for transactions affected by the severe storms in Arkansas that occurred from May 24-27, 2024. Following the Federal Emergency Management Agency's (FEMA) disaster declaration, specific inspection protocols are established for properties in designated counties. The document details the necessary inspections for transactions with and without appraisals, including the types of reports required, such as the Property Inspection Report (Form 2075) and Appraisal Update (Form 1004D). It specifies the conditions under which inspections must be conducted, including the need for photographs and certifications from licensed inspectors. Additionally, it emphasizes the importance of ensuring that all properties have current insurance and outlines the operational procedures for brokers and underwriters in managing these inspections. The document serves as a comprehensive reference for ensuring compliance with FEMA's guidelines and maintaining the integrity of property transactions in the aftermath of the storms.