Does an FHA loan require the seller to fix major problems?
2010 February 8
The house we’re buying needs a new roof. Under an FHA loan will the seller have to replace the roof before we can receive the loan?
3 Responses
leave one →
The house we’re buying needs a new roof. Under an FHA loan will the seller have to replace the roof before we can receive the loan?
FHA will not lend you the money, but they also will not require the owner to do anything. If you want FHA you should only offer on homes that will pas the inspection.
Yes. Or you can replace it before closing which would be unwise.
The seller isn’t required to fix anything in any sale, FHA or not.
FHA doesn’t require a home inspection…unless the Appraiser for FHA stated that the roof was curling, etc (appraisers NEVER state that it needs to be replaced nor are they required to even go on the roof…at all)….they may note the discoloration on the inside of the home if it’s leaking.
That is NOT unique to FHA…that is true with any appraisal.
The seller can get a roof inspector (a specialist) to counter an FHA appraiser’s finding.
PS: People will post that FHA requires an inspection…they do not, and they never have. Those posters that do obviously do not work with FHA loans.