First by all means discuss these issues with your real estate attorney.
It has been my experience that many HUD homes have disclosures that will reveal property flaws such as mold.
HUD homes are sold as is.
But FHA offers a rehab loan that will allow you to make the necessary repairs on the home. Check with your lender and see if they offer this program. It is at a slightly higher rate and takes longer to process and close but it many cases it is very worthwhile.
Good Luck

If the house has mold and termites, it is very likely that your mortgage company will not approve the loan. Hopefully you have a mortgage contingency clause in your contract - that would pretty much require that the seller remediate any issues that would prevent you from securing your loan.

Your BEST bet is to discuss this with your real estate attorney or at the very least, your real estate agent.

Best of luck to you!

Jennifer

Buyer agent can assist you with these questions.

If home does not pass appraisal you won't be able purchase due to these conditions

Terms and guidelines could be specific on home perhaps only a cash buyer required.

National Featured Realtor and Consultant, Texas Mortgage Loan Officer, Credit Repair Lecturer
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