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Old 09-19-2008, 03:10 PM
 
Location: Southern CA
1 posts, read 6,244 times
Reputation: 11

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Years ago, I sold homes to be secured by FHA loans. But,for years, FHA was overshadowed by conventional loans, with minimal requirements to get approved. Some of the homes sold had no appliances. I just received a request from an agent stating that the appraiser says that , "although the home is in good condition, it must be equipped with appliances", i.e. a stove and a dishwasher. This is a bank owned home and the appliances where removed. The water heater, electrical, heating and air conditioning are all in great condition. Does FHA require the home to have appliances before they lend on the property? If so, please provide me with the numbers or sections of the HUD/FHA handbook or where it is found.
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Old 09-19-2008, 03:47 PM
 
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
6,958 posts, read 19,111,964 times
Reputation: 6378
How about here;

HUDClips -> Minimum Property Standards for Housing, 1994 Edition (4910.1)
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Old 09-20-2008, 07:38 PM
 
Location: Pawnee Nation
7,525 posts, read 14,871,784 times
Reputation: 7010
The current one is better:

HUDClips -> Valuation Analysis for Single Family One- to Four- Unit Dwellings (4150.2)
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Old 09-21-2008, 10:31 AM
 
Location: Pawnee Nation
7,525 posts, read 14,871,784 times
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I did not have the time to address this fully.

first of all, appliances, by their nature, are short lived items and are not necessary to the health and well being of the occupants.

FHA requirements are written so that issues that affect the health and well being and safety of the occupants is essential. They require evidence of systems working well. Things like plumbing, electrical, HVAC, ventilation, roof integrity, etc are issues. Safety issues such as banisters being too wide (a kid can fall through them, and if they are close enough, can hang himself), handrails, paint peeling (in houses with lead based paint potential), damage to the exterior of the house (roof, siding, soffit and eaves.....will allow weather to penetrate and cause damage to the house) are all issues.

In short, there does not have to be a stove or a dishwasher.

FWIW, I am on the FHA Roster http://www.hud.gov/offices/hsg/sfh/a...st.cfm#update1
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Old 09-21-2008, 10:36 AM
 
Location: OK
2,740 posts, read 6,468,379 times
Reputation: 1889
Quote:
Originally Posted by Goodpasture View Post
I did not have the time to address this fully.

first of all, appliances, by their nature, are short lived items and are not necessary to the health and well being of the occupants.

.
That is true. But FHA does require a functional kitchen.
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Old 09-21-2008, 10:45 AM
 
Location: Pawnee Nation
7,525 posts, read 14,871,784 times
Reputation: 7010
Quote:
Originally Posted by Schousse View Post
That is true. But FHA does require a functional kitchen.
Of course it does. but a free standing stove is an easy replacement and is similar to a refrigerator. A dishwasher is still a luxury. if it is in place it needs to be workable, if the hole is there, it would be wise to install one (Habitat for Humanity, in this area sells them for $25). but lack of fridge or stove is not a deal killer.

Appliances are not listed on the VC sheet that I have always used.......
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Old 09-21-2008, 11:24 AM
 
3,923 posts, read 10,291,180 times
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mjordan, I am so glad you created this thread and I'm really grateful to read the responses from Schousse and Goodpasture.

With banks having tighter lending standards and borrowers having less discretionary income, FHA has become much more desireable...even including MIP.

I am the buyer's agent for an FHA borrower who's scheduled to close on October 15. The lender told him to have an inspection but she doesn't want to see the report. WTH? This one has me both confused and concerned. In years past, the FHA inspection and appraisal were done by the same person simultaneously. And any repairs noted were to be corrected prior to close.

I did have an FHA borrower that closed on a short sale in July and there was no fridge. It didn't create any problem with financing. Again, there was no FHA inspection.
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Old 09-21-2008, 04:06 PM
 
Location: Pawnee Nation
7,525 posts, read 14,871,784 times
Reputation: 7010
If I am not mistaken the only "FHA Inspection" is for an FHA 203k loan. That is where an FHA consultant inspects for deficiencies, lists them to be corrected. As this is a rehab loan, the homeowner is given a decent/fair time period to get those deficiencies cured. As this frequently requires the use of outside contractors there are periodic progress payments/draws, made by FHA. Upon completion, the consultant verifies that all deficiencies are completed in a workmanlike manner and the final loan amount is funded.

All other inspections must be done by the trades or individuals who do that sort of inspection in your home. A Home Inspector, who will call for others....such as electrical, plumbing, etc, if required.
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