There is also a new FHA 203k program that allows you to obtain the FHA loan without the home meeting the minimum criteria for safety and habitability but those issues that normally would have to be taken care of up front have to be financed with escrow funds placed at closing within 90 days of closing date. This is a new program and is used for buyers who want FHA financing but still have the ability to buy a home that needs remodelling (e.g. bank homes or distressed properties). Again, talk to your real estate and mortgage advisors.
I agree that something is not right here. FHA guideline are lenient on many things except the fact that the home has to be livable (must have functioning heat, water, stove, sink in the kitchen, toilet(s) in the bathroom). They donâ€™t really care about the closer washer or the dishwasher because these are not necessary to live in a home. I know that they are very strict about these issues. If you are buying a regular bank owned home you maybe able to get them to fix the furnace as this should have been a red flag on the appraisal.
Talk to your agent as they should have the negotiating skills to get these things right for you!
I did have an inspection done a week AFTER the appraisal was performed by my lender. the inspection was done with the utilities on.
I had to delay my inspection because the water meter needed to be replaced in order to get the water turned and cut wires on the furnace had to be fixed. So this is how I know the appraiser didn't have the water or furnace on when the appraisal was performed.
my realtor is definately skeptical about these circumstances, but doesn't seem to think it will affect me as the buyer. my lender has had the appraisal double checked and there are apparently no hold-ups on the loan going thru, based on the appraisal.
just on side note, if FHA is so picky...the inspection showed (among other things) obvious paint chipping, missing plumbing to clothes washer, no garbage disposal,hole in chimney, plumbing leaks, and no plumbing hooked up to dishwasher,
A Home going with a FHA loan must be in order ( meaning you have to have HEAT, Water, Hot water, a stove or place to cook. You have to be able to live in the home.
Something is not right here.
Contact your Agent and get to the bottom of this