Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Anyone have FHA "inspection/guidelines" stories/experiences?
I know they don't do an inspection, but not sure how else to describe it. (and on that note, we have had it inspected, so we know all of the house's "problems")
We are really curious of the things that FHA may actually pass by and not require fixing, and I was hoping people can let me know their experiences with this? What did they make you fix, what were you surprised of that didn't need to be fixed, etc?
Looking forward to hearing from you guys, thanks a bunch!!
Re: Anyone have FHA "inspection/guidelines" stories/experiences?
It is an FHA Inspection. They come out to the house and inspect it. I'm closing on a home with an FHA loan on Tuesday. It was a foreclosure, so there were issues.
Chipped wall paint, broken fence, broken garage door opener, front step needed handrail (more than 30" off the ground), Front step cracks, sand patch needed to be landscaped ( previous owner had taken down an above-ground pool. We got that one waived because it's BS.)
What DIDN'T need to be fixed: mold in basement, leaking hot water heater, landscape water drainage issues, rotted deck, abandoned well covered in plywood in the back yard. dangling wires from ceiling light fixtures
Fortunately with a lot of effort and patience, we got the bank to agree to fix ALL of the issues, both required and not.
Good luck!
Cortlandt Place - My house blog
Wait, they had a problem with the garage door opener but not the numerous potential safety issues? And I had previously thought FHA standards were high.
Thanks PeanutsCL, how long did you have to wait for them to make those changes? How did you get them to? That is really awesome!! This is a short sale purchase so it's as-is as well. I wasn't planning on asking the bank but perhaps I will, though we have a date that we have to close and it's really only about a month away.
We haven't even heard back yet, I am so confused on this because our inspector said just a handrail inside would be needed and they might have a problem with one of the windows. What I read online on RE sites suggests there'd be a lot of other things needed to be replaced, however. The listing agent told our loan officer the house would pass, but honestly I am not too sure... so, glad to hear your story!
We are in the process of buying a short sale as well and just had our appraisal last week. We have to patch a few holes in the carpet, add handrails to the stairs, scrape and repaint the soffitt and fascia, repair a broken bathroom exhaust fan, remove some mildew caused by the broken fan and repaint that area, replace a shingle and clean out the drain outside the basement steps.
One thing I would recommend is as soon as you find out what needs to be repaired, talk to your loan officer about when the latest date is that you have to have the repairs done by in order for them to get your FHA loan approved. We had issues getting inside the house because there were a ton of people living there and they were in the process of trying to move out. If we had known it would take so long for them to approve it, I would've been out there that same night trying to get the outside stuff done at least. Our LO knew when we were going into the house and should have realized we couldn't have done it all in a half day. Now her and our realtor are scrambling to get everything done on time so the bank approval won't expire as we try to finish the repairs a lot earlier than expected.
Gracie, some of what you said is found in our SS house too! There's a broken exhaust fan and some mildew because of it... and a missing shingle or two!
How will you/did you fix the shingle? Did you hire someone?
Thankfully this is an empty house so we can get in and do it. Aside from your SS's approval expiration, did you have any other sort of time limit given for those repairs?