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    katied3's Avatar
    katied3 Posts: 1, Reputation: 1
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    #1

    Jan 21, 2010, 07:04 PM
    Foreclosure inspection and fha guidelines
    I would like to know what fha requires to be fixed on a foreclosure for a buyer obtaining an fha loan? What will a bank pay and what won't they pay in repairs on a foreclosure?
    bulksalty's Avatar
    bulksalty Posts: 31, Reputation: 3
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    #2

    Feb 11, 2010, 02:28 PM

    Unfortunately there's no standard for what banks will and won't fix.

    Generally if the job is cheap or simple and necessary for FHA financing (like installing rails on steps) the bank will pay for it, but not all banks will.

    It's a pain, I know we lost a house after the bank didn't even reply to our offer, but on another, they did some minor mold remediation.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Feb 11, 2010, 02:36 PM

    Normally the bank will not "fix" anything but merely sell the house as it is. You can ask them to fix anything you want in your offer, but they will decide if they will or won't
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