Appraisal Problem C6 Big Opportunity

[Cole Hagen]

Hi, I recently had a direct mail success for my first home. It will be a live-in situation that I am going to rehab over the first few months of living there. I have a contract on the house and am working on achieving financing through my local credit union (conventional loan, Freddy Mac). The appraisal value will easily meet and exceed what I am paying for the property but according to my appraiser, the house may be considered a C6 property (unsafe) due to a variety of factors including a deteriorating deck, missing electrical outlets, the water, AC and Heat have been turned off on the home since no one has lived there the past year. I knew all of this going into this which is the reason I was able to secure the home for such a discount but I was wondering if anyone had any tips on how to get around this. The seller wants to sell the house AS IS which I completely understand and have all of the tools, skills, and resources to fix these issues but according to my lender, the loan would be "subject to repair" meaning that the seller needs to at a minimum fix the safety issues (which they do not want to do). Please let me know if anyone has any advice for getting around this situation.