FHA Repairs
If you are applying for an FHA (Federal Housing Administration) loan, you will need to understand about repairs and how FHA requested repairs may affect your ability to close on the sale of the home. If you are selling a home and the buyers are going to purchase using an FHA loan, it is important to understand what should be done and what does not have to be.
What has to be repaired?
There are several types of repairs that must be completed prior to closing of an FHA loan which include:
- Peeling pain in homes built before 1978
- Unpainted downspouts and broken rain gutters
- Rotting out-building in need of demolition
- Exterior doors that do not property open and shut
- Exposed wiring and uncovered junction boxes
- Major plumbing issues and leaks
- Inoperable HVAC systems
- Leaky or defective roofs
- Roofs with a life expectancy of less than three years
- Composition over shake
- Active and visible pest infestation
- Missing appliances that are usually sold with a home (ie: stove)
- Bedrooms without minimized-sized windows
- Bedroom windows with bars that do not release
- Foundation or structural defects
- Wet basements
- Evidence of standing water in the crawl space
- Inoperable kitchen appliances
- Empty swimming ools, pools without a working pump and pools with mosquito fish
- Ripped screens
- No pressure relief valve on water heater
- Leaning/broken fences
Repairs that can wait until after closing.
Type of FHA repairs that are not necessary to fix before closing:
- Peeling pain in homes built after 1978
- Cracked glass in windows
- Minor plumbing defects – a dripping faucet
- Missing handrails
- Damaged wall coverings in homes built after 1978
- Worn out carpeting or defective floor finishes
- Beat up or damaged exterior doors that still open and close
- Trip hazards such has heaving sidewalks
- Removal of debris under the house
- Lousing workmanship
- Evidence of previous or inactive pest infestation
- Replacement of flat roofs
- Testing of wells, unless required by local jurisdictions
- Or if water is suspected of contamination
Thinking of selling your Erie County home? Interested in finding out the current market value of your single family home, condo or investment property? Then call www.BestBuffaloHomes.com at (716) 650-0051 to discuss what is happening in today’s Western New York Real Estate Market. We would be happy to give you a personalized Comparative Market Analysis for your home or assist you to purchase a home. View additional WNY Market Area Statistics here.
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