Illinois Foreclosed Homes
May 5th, 2010
Illinois Foreclosed Homes
Question: Does the FHA appraisal require appliances?
My agent insists that it does. I am FHA approved and looking at foreclosed homes which usually don't have appliances. My agent has said that I must install appliances prior to the appraisal, but I risk the chance of not getting them out of the house in case I don't close. I live in Illinois if it makes a difference!
Answer: FHA 100% requires appliances. The house has to be in move in condition.
FHA rarely approves foreclosures, you really should be looking at normal homes if you want FHA approval. The biggest problem is getting all of the water and power up and running prior to the inspection, the banks are not so great about that. This is the main reason most will not accept FHA bids, just too much of a hassle.
Can you believe California has nearly one fourth of the countries foreclosure filings!?!
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