Getting Fannie Mae to fix a minor issue

[Randy Murphy]

Hello all:

So, my wife and I have just started escrow on a Fannie Mae home. We are finacing this purchase through FHA. Everything has been going well so far (The only hiccup so far has been the two week wait for Fannie Mae to get us the signed contract back so we could actually move forward)

Had the home inspection yesterday and the only issue in the house was we could not get the hot water to run. The home has a tank less water heater and the inspector could not get the unit to turn on. Our realtor said that will be an FHA issue that must be addressed. I understand Fannie Mae sells properties As Is and will not do any sort of repairs, but this is a minor issue and the only thing that will hold us back from getting FHA approval.

What are the chances we can get Fannie Mae to address this issue? Its not a major issue like a roof needing replacing. I will be more than happy to put the money up to fix it myself. I know there are options such as arepair escrow or the FHA 203k loan. Does anyone have any experience with Fannie Mae on getting them to fix a small issue such as this.

[Wayne Brooks]

A "repair escrow" is not for a 203k, it's for a regular FHA, and could be used if FNMA agrees. . Ask the listing agent for the easiest solution, as they handle the FNMA listings. A second inspection with a plumber who "gets it to work" May be the easiest, even though you are not allowed to "do any repairs" to the property before owning it.