When the TV news show «60 Minutes» reported that Lumber Liquidators» laminate flooring, a synthetic product produced in China, failed to meet
certain health and safety standards, many home owners panicked.
Depending on the type of loan you wish to obtain, the house will not only need to appraise at a certain value but may also need to pass
certain health and safety standards.
Not exact matches
The government sets
certain rules against fraud or
health and safety standards, but the consumers ultimately decide whether a product or service meets their needs.
Standard 203 (k) repairs include all those eligible with the Streamline 203 (k), as well as
certain structural alterations
and reconstruction, rehabilitation of garages, modernization of bathrooms
and kitchens (including new appliances), removal of
health and safety hazards, aesthetic appeal changes, installation of wells or septic systems,
and handicapped accessibility improvements.
Since the property serves as collateral for the loan, HUD requires that it meet
certain standards for the
health and safety of the inhabitants, as well as the soundness of the property.