Suzanne,

First thing have your lender check to see that it is a necessary to close. Not all FHA lenders require a stove. If the appraiser stipulates that a stove is necessary and won't remove the remark. Ask to have it as a prior to funding condition. I suggest that you right an addendum asking the seller to repair, or in this case replace the missing stove. Some banks will replace the stove. That being said you did sign a contract accepting the property AS IS, so they are obligated to do anything. If you must put a stove in the property, get seller permission to do so. Buy a used stove from Craigslist that works and is inexpensive, or buy a stove from Best Buy or Sears. If you fail to close Escrow you can return the stove for refund. Please get Seller permission to replace stove.

Sincerely,

Adrian Huntington
Coldwell Banker Coon & McCreary Realtors
Pleasant Hill, CA 94523

I want to clarify my answer below:

1. Stoves are only not required if they do not have a built in space for them. If the stove or dishwasher has a special section of the counter as a 'built in' they must be in place for FHA financing.

2. I've included a link to a local appraiser site wherein the appraiser helps the local REALTORS keep current on FHA lender requirements.

Hope this helps,

Tamara

Hello Suzanne,

I am a buyer's agent located in the Antelope Valley. FHA guidelines change periodically. One of the new changes that went into effect within the last 3 months is that a house does not have to have a stove in order to qualify for FHA. Previously under FHA the stove was required prior to closing.

As long as the connection for the stove is properly capped the Appraiser is not supposed to call out no stove. So many buyers want to have their own stoves and other appliances that FHA has indicated that this is no longer a requirement. FHA is mainly looking for Health & Safety issues and whether the property is habitable.

I know that it can be frustrating to deal with the seller/lenders who handle the REO properties. I agree with Micki as to the contract should be worded in such a way that IF there are lender required repairs, the seller should honor that portion of the contract. I wish you the best of luck.

If I can be of further assistance, please feel free to contact me.

Tamara Stoebe, REALTOR, QSC, e-PRO
TROTH GMAC REALTORS
1801 W. Ave. K
Lancaster, CA 93534
Cell: (661) 466-6849
Fax: (661) 422-3006
E-mail: Tamara@TamaraStoebe.com
Website: http://www.TamaraStoebe.com

Suzanne,
I respectfully disagree with the other 2 responses having dealt with numerous FHA buyers and REO properties. Any time I have an FHA buyer I note any potential FHA/VA issues with the house before writing up the offer and even if I see none, I include the wording,"seller to pay for lender required repairs". I have yet to have a bank refuse to make the repairs. This is probably because the amount of the repairs has not been extensive.
Have your agent submit a request for repairs stating that it is lender required and put a dollar amount. Most new stoves can be purchased for under $500. I can't imagine the bank cancelling the deal over $500 especially if you are close to closing. If for some reason the bank declines the request than your next step would be to do as Homa suggests and ask to place the stove in yourself and ask to take it out if the sale does not go through.

Hope this helps

Micki

Hi Suzanne,

You are not alone. Buyer who have to deal with FHA inspection sometimes pay for fixing the house so it get approved. May be you can buy a used stove and come up with some understanding with a listing agent that you be allowed to take the stove back if deal falls apart.

Banks are selling as is and they do not want to deal with these issues.

Sincerely,

Homa
Prudential
Mission Viejo

it seems that your loan was approved,but that this house will not meet FHA standards without the stove. REO homes are sold "as is" which means the lender will make no repairs. Your agent does not seem to be very supportive here--talk to yur lender and see if yu can come up with a solution.