Hello,

First, my apologies if I don't get the terminology exactly right...this
is my first time buying a home.

I'm currently the buyer of a property and was approved for an FHA
mortgage. Sales agreement was signed (by both parties) which stated
that I was doing FHA (as opposed to conventional).

Everything is looking good for me except the pending FHA inspection.
The inspector is probably going to site 4 things that really aren't a
big deal, but could add up to $1000+ if the Seller plans to pay someone
else to do them (which I'm 99% certain they would have to).

My concern is I am under the impression that the Seller doesn't want to
put another dime into the property, so I don't know how they are going
to react to the inspector's report. I think I'm getting a pretty good
deal on the property (and friends/family that have seen the property
agree); and would still be getting a pretty good deal even if I had to
put up another $1000 (which I have in cash).

Because they signed the agreement stating I was FHA, are the obligated
to make the repairs? I don't think they are. I'm also pretty sure the
repairs are required for my FHA mortgage. Can I offer to pay for the
repairs if Seller refuses?

wrote:
First, my apologies if I don't get the terminology exactly right...this
is my first time buying a home.

I'm currently the buyer of a property and was approved for an FHA
mortgage. Sales agreement was signed (by both parties) which stated
that I was doing FHA (as opposed to conventional).

Everything is looking good for me except the pending FHA inspection.
The inspector is probably going to site 4 things that really aren't a
big deal, but could add up to $1000+ if the Seller plans to pay someone
else to do them (which I'm 99% certain they would have to).

My concern is I am under the impression that the Seller doesn't want to
put another dime into the property, so I don't know how they are going
to react to the inspector's report. I think I'm getting a pretty good
deal on the property (and friends/family that have seen the property
agree); and would still be getting a pretty good deal even if I had to
put up another $1000 (which I have in cash).

Because they signed the agreement stating I was FHA, are the obligated
to make the repairs? I don't think they are. I'm also pretty sure the
repairs are required for my FHA mortgage. Can I offer to pay for the
repairs if Seller refuses?

Well, *somebody* has to pay for the repairs, assuming the cites are for defects
that preclude getting FHA mortgage insurance -- you can't get the loan until the
defects are addressed (now, if the cited defects don't give the FHA heartburn,
that's a different kettle of fish entirely). If the contract doesn't spell out
the terms, it's negotiation time with the seller. Personally, if you're
willing to pay for the repairs, I'd make a new offer with raised selling price
and a clause that "buyer will pay for all repairs required by FHA inspection up
to $xxxx", or something of that nature. I wouldn't recommend an "under the
table" payment for repairs -- if you're out the cash and the seller backs out at
the 11th hour, things could get sticky.

In article .com,
wrote:

Because they signed the agreement stating I was FHA, are the obligated
to make the repairs? I don't think they are. I'm also pretty sure the
repairs are required for my FHA mortgage. Can I offer to pay for the
repairs if Seller refuses?

It depends on how the contract is written. In some cases, the
seller is obligated up to a certain amount. If the amount exceeds
some documented value, then the seller can back out. The best
thing to do is wait for the inspection and see what you situation
is. That avoids all the preliminary what-ifs.

-john-

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John A. Weeks III 952-432-2708
Newave Communications http://www.johnweeks.com
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