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Updated about 4 years ago on . Most recent reply

User Stats

18
Posts
5
Votes
Paul Lee
  • Rental Property Investor
5
Votes |
18
Posts

Can you get an FHA appraised home value before repairs?

Paul Lee
  • Rental Property Investor
Posted

I'm in a possibly complicated scenario, so any feedback or help would be very much appreciated.

I'm looking to purchase a 4plex with an FHA loan, but after walking around the property there might be some issues meeting the FHA's minimum property standards. I'm willing to pay for any repairs to get the property to FHA's minimum property standards; however, if there is a large appraisal gap and the seller doesn't want to lower the purchase price to the appraised value, the deal wouldn't work and I don't want to pay for repairs prior to doing the repairs.

I hope this makes sense.  Please let me know if you need further information.  Thanks in advance!

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