Foreclosure in Wilmington>Question Details

Ak39443, Other/Just Looking in Wilmington, DE

I have looked at several properties, one need vanties in both bathrooms, one needed kitchen cabinets. Can a house pass inspection needing work?

Asked by Ak39443, Wilmington, DE Wed Mar 7, 2012

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Depends on what inspection youa re refering to, as others mentioned below. You need to get advice from your agent & ask your loan officer who can best guide you in this situation.
1 vote Thank Flag Link Wed Mar 7, 2012
The simple answer is, It will be based on your loan requirements...
If you are paying cash of course no inspection is required at all.
If the seller is "holding the note" no inspection can be part of transaction.
You obviously see the obvious missing fixtures and cabinets (so I understand you do not want to waste money on a home inspection and someone telling you are missing cabinets)...
Their is one grant money that requires you to do a home inspection and the rest typically just require an appraisal and at that time the issue of missing cabinets Will more than likely have to be addressed with lender.
There are also loans that will loan money for properties missing the above items.
You should commit to work with a real estate agent who can show you that foreclosures are their "area of expert knowledge".
Not all Realtors or Real Estate Agents are equal with respect to their knowledge and foreclosures...
I am sure one of us answering your post here would be pleased to help you ... I would recommend myself of course because of my many personal purchases of bank foreclosures and currently I own 6 of these properties.
As you can imagine I am well versed with foreclosures...

Kai Etienne,
0 votes Thank Flag Link Wed Mar 7, 2012
Hello, thanks for your inquiry. The answer depends on what type of inspection your referring to. Assuming you mean regular FHA the answer is likely no or if your referring to down payment closing assistance from a community program that answer is also likely no. Other types of financing like conventional, FHA 203k, and other renovation loans are not contigent on any inspection. A regular home inspection paid for by you the buyer has only to satisfy you the buyer. Please contact me at 302.266.7544, with additional questions or for further assistance with your real estate needs.
0 votes Thank Flag Link Wed Mar 7, 2012

It depends on what kind of inspection you're talking about. FHA or VA loan inspection or just a home inspection. A home inspector will go through the house pointing out any defects in the property but vanities and cabinets are cosmetic - an easy fix. If you have any other questions please contact me!

Jill Callahan
Coldwell Banker Preferred
302-352-2436 office
610-470-4945 cell
0 votes Thank Flag Link Wed Mar 7, 2012
It depends what type of inspection. A home inspection will bring to light any hidden defects, problems or damage. if you are talking about an appraisal, then it depends what type pf loan you are getting. If it is fha or VA then it would not. The home has to be in move in condition including working water, hot water, heat, bathrooms and kitchen with a stove. The best person to ask is your laon officer for a list of the required condition of a home tio save you from spending money and having it fail.
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0 votes Thank Flag Link Wed Mar 7, 2012
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