- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
House selling question? FHA
Posted on 11/4/18 at 1:54 am
Posted on 11/4/18 at 1:54 am
Sold a few houses but never with the homebuyer using FHA.
The inspection seems ridiculous . We've been in the house 4 years. It easily passed that inspection with minimal issues. The FHA inspector has found all kinds of things to fix.
Our real estate person says FHA is like that. Is it?
The buyer also seems cash strapped and wanted help with closing costs which we negotiated some. In the end, our real estate agent actually went up on the price of our house to accommodate that.
Now I'm wondering if the appraisal will cover the upward adjustment of the price.
Something feels weird/off to me. I have already moved for work and my wife is dealing with it and I'm worrying about it long distance
Any advice would be greatly appreciated.
The inspection seems ridiculous . We've been in the house 4 years. It easily passed that inspection with minimal issues. The FHA inspector has found all kinds of things to fix.
Our real estate person says FHA is like that. Is it?
The buyer also seems cash strapped and wanted help with closing costs which we negotiated some. In the end, our real estate agent actually went up on the price of our house to accommodate that.
Now I'm wondering if the appraisal will cover the upward adjustment of the price.
Something feels weird/off to me. I have already moved for work and my wife is dealing with it and I'm worrying about it long distance
Any advice would be greatly appreciated.
2
Posted on 11/4/18 at 7:33 am to chuckie
FHA is strict but everything you said sounds about right. Ultimately it's up to you on the fixes with their inspection and the appraisal cost.
This post was edited on 11/4/18 at 7:35 am
Posted on 11/6/18 at 2:34 pm to chuckie
Chuckie, the inspection is just a general inspection, nothing FHA specific. Inspectors always find something. That's not an FHA thing. Also, if contract has closing costs built into the price, the appraiser will get a copy of the contract and try and hit that selling price if it's there. It's very common. Not sure where you're home is you're selling, but in BR market, very common for buyers to ask seller to pay good bit of their closing costs.
Posted on 11/6/18 at 2:42 pm to jkb531
quote:
the inspection is just a general inspection, nothing FHA specific. Inspectors always find something. That's not an FHA thing.
FHA will absolutely do their own inspection, independent of any other inspection the buyer pays for. If they find anything, they require it to be fixed before approving the loan on the property. One of the many hoops to jump through when going FHA.
Posted on 11/6/18 at 3:16 pm to ATLdawg25
quote:
FHA will absolutely do their own inspection, independent of any other inspection the buyer pays for. If they find anything, they require it to be fixed before approving the loan on the property. One of the many hoops to jump through when going FHA
is this new? i used fha for my first home 7-8 years ago and did not have this.
Posted on 11/7/18 at 9:16 am to lsujro
I think it is part of the the appraisal. They basically say “it will be worth the purchase price once you fix these things.”
Posted on 11/7/18 at 9:25 am to ATLdawg25
quote:
I think it is part of the the appraisal.
That was my experience when we bought 13 years ago with FHA financing. Its not a separate inspection, but its part of the appraisal inspects certain, but not all systems.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News