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FHA Requirements for a Seller

FHA Requirements for a Seller

FHA Requirements for a Seller
Ponce DeLeon Statue in Punta Gorda
While FHA has relaxed some of the repair requirements for FHA loan approval, there are still many that a seller should consider. If a seller is intent on selling a home “as-is”, the seller should be aware of the items FHA will enforce.

However, if a seller is still amenable to an FHA mortgage, they should be sure to place a specific dollar cap on repairs that the FHA requirements for a seller would demand. Even a home that seems well maintained can reveal some of the following FHA defects.

Repairs That Must be Completed for FHA approval

Peeling paint in homes built before 1978 Lead Based Paint rules
Broken, damaged or unpainted gutters and downspouts
Exterior doors that do not operate properly
Exposed wiring
Major plumbing problems
Broken A/C systems
Leaky or defective roofs, roofs with a life expectancy of less than 3 years
Active and visible pest infestation
Rotting exterior wood items.
Rotting Window frames and sills
Missing appliances that are customarily included with a home
Bedrooms without minimize-sized windows or obstructions preventing egress
Foundation or structural defects
Inoperable kitchen appliances
Empty pools or those without a working pump or other defects
Torn house or lanai screens
No pressure relief valve on water heater
Damaged fencing

Repairs That are Not Necessary to Fix Before Closing

Peeling paint in homes built after 1978 (Not Lead Based Paint)
Cracked glass
Minor plumbing defects
Damaged wall coverings in homes built after 1978 (Not lead based paint)
Worn flooring
Beat-up or damaged exterior doors that operate properly
Removal of debris
Evidence of previous or inactive pest infestation
Replacement of flat roofs
Water tests

A seller of improved real estate should be aware of FHA Requirements for a Seller. If accepting a contract with an FHA contingency, a seller should be sure to limit their repair exposure. Discuss the implications with your agent.

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For more info on FHA loans visit the HUD website

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