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flagcarol, Home Buyer in Oklahoma City, OK

I got an appraisal that says there are obsolete improvements on the property - how can I get those removed

Asked by flagcarol, Oklahoma City, OK Wed Mar 13, 2013

I am trying to buy a piece of property that has a barn and arena with the house - FHA won't finance because the appraisal said it had obsolete improvements - how can I get this financed throught FHA

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See below I cannot add anything to that answer... Sorry, can you finance other than with FHA?
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0 votes Thank Flag Link Thu Mar 14, 2013
Hi flagcarol,

If FHA won't finance due to 'obsolete improvements' you won't be able to finance FHA. The owner would have to remove the obsolete improvements and they most likely won't do that and you can't do it if you're not the owner. Also, FHA appraisals stay with the property for 6 months - you can't have a new FHA appraisal done on the same property.

Shanna Rogers
SR Realty
0 votes Thank Flag Link Wed Mar 13, 2013
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