Home Inspection
Along the same lines a Yahgood's question...I bought a hud house to rehab and have had the appraisal done and am approved for a loan. Should I still have an inspection done before I close or will that be a waste of money?
hi,
do the inspection.. I bought a hud home 11/4,, with report that i could have walked away from the deal or buy. I chose to buy, with that I got 3k in consession money to pay for repairs.
my report cost -- 195.00
good luck,
garcia
garcia,
To clarify, are you aying the inpector found problems that you were able to get HUD conessions in the amount of $3000? What did you have to do to get HUD to agree to the concessions after the initial bid was accepted?
Thanks
hi,
i had the inspection done. I found roof problem, other major problems. Realtor said I could walk, but suggested to ask for 5k, we did. i got 3 k,
but the history of this house was on market for a while and lost contract due to roof problem. So they gave me 3k so i took it.
garcia
My husband and I are looking into buying a Hud Home. Here is my question, the house appraised at $150, they are asking $120. There are some minor roofing issues that need to be addressed. However, since the house was put on the market (over 4 months ago) the property management company shut off the power to the house, which in turn rendered the sump pump useless and now the basement is flooded with 3 1/2 feet of water. I contacted the property management company to have them drain the water, but now we know the furnace, water heater, etc will have to be replaced because of the water damage. If there is no structural damage from the water we still want the house but should we offer significantly less than the asking price due to the new issues that have arisen because of the water? Thanks! I really appreciate anyones opinions about this!