Hello everyone,
I hope you're all doing well. I'm reaching out today to seek some advice and recommendations regarding home repairs that I'm currently considering, particularly during the closing period. To provide some context, I'm in the process of utilizing an FHA loan for the purchase of an older house located in Enfield, NH.
Following the inspection, a few potential issues with the house have come to light, and I'm actively working to assess the potential severity and costs associated with addressing these concerns. At the moment, my main focus is on finding a qualified contractor who could provide a comprehensive quote for the various issues that have been identified throughout the house.
I have a few specific questions that I would greatly appreciate insights on:
- Is it a requirement from the FHA to address these issues prior to finalizing the loan agreement, or is there an option to incorporate the repair costs into the contingency and have them resolved after the closing?
- What are some red flags in terms of issues that would lead you to decide against moving forward with the purchase of the house altogether?
- During the inspection period, is it feasible to obtain a reliable quote for the necessary repairs?
I'm really looking forward to hearing from those who have experience in these matters and can offer valuable guidance. Your input would be immensely helpful as I navigate through this process. Thank you all in advance for your time and assistance.
