Profile picture for this2willpass

Do I need to put my own appliances in home for FHA Loan?

We purchased a house through auction. Signing off that the bank has no intentions of making any repairs, etc. We are doing an FHA loan and the appraisal came back asking for installation of Range/Oven, Microwave, dishwasher and disposal. My main concern is that I don't own the house and don't know how comfortable I feel placing my appliances into a home I do not own, probably isn't secure, and have no authorization over who goes in and out. Is there any way around this problem with addendum's to place items in there after closing for example. Any advice or insight would greatly be appreciated. Thanks
  • June 12 2014 - Maricopa
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Answers (7)

The seller never should have accepted an FHA offer if they were not willing to make any of the necessary "repairs" that might be called for by an FHA appraiser.

I would contact the seller and let them know that the appraisal is calling for appliances and see how they respond. Everything is negotiable and with the appraisal in hand you might have a better chance at getting them to install the appliances.
  • June 20 2014
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Profile picture for alex1232
Well...ifyou dont have a stove,dishwasher and disposal or light fixture...Home is not livable therefore no FHA.So to make you fill comftable go to craiglist.com free staff and put same stove,dishwasher it is not important look just the fact that stove is there.If no stove no FHA then you go to 10% down payment.
  • June 12 2014
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Profile picture for GMerino

You could ask your lender if that would work? 

  • June 12 2014
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Profile picture for Arizona Mortgage Pro
Your apprehension to put appliances into someone else's home is warranted. Perhaps speak with your lender to see if it would be an option for you to buy the appliances and provide receipts. 
  • June 12 2014
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 Hi,

I've been in a similar situation with my buyers and in their case FHA 203k was the solution.

 The federal government designed these loans to encourage lenders to fund seemingly risky home purchases. Goals of neighborhood revitalization and greater homeownership opportunities also drove the creation of this loan.
FHA 203k loans are designated for houses that are damaged or sorely in need of rehabilitation. The loan covers not only the cost of the property but also the cost of necessary home repairs. The down payment requirement is low, and eligibility criteria are loose. Homeowners whose homes need improvement can also refinance with these loans. A vast range of repairs, including room additions, bathroom remodeling, roofing, flooring and air conditioning systems can be funded with these loans. Talk to your mortgage person to see if you are qualified. Hope this helps!
  • June 12 2014
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Profile picture for SharRundio
Ah, common problem with bank owned properties and FHA financing.  Aside from the concern with not owning the house and not having control over access, you most certainly signed something indicating that you would not make any alterations to the property.  If you were my client the first avenue I would explore is requesting that the bank actually provide those items despite the property being sold in *as is* condition.  I've seen this occur based on the financing contingency (assuming that you have a financing contingency).  If a solution is not found, you'll not be able to obtain financing and potentially can cancel the contract.  The next route would be to see what options your lender has regarding closing and allowing you to place the appliances after closing.  I've seen this done in a couple of circumstances as well.  Hopefully, you've got good representation with a REALTOR and lender working for you.  Good luck!
  • June 12 2014
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Have you discussed the options with your lender and Realtor?  They would be able to give you advice on this since they have a copy of the contract.  If the contract states that the seller will not make any repairs or improvements to the home, then they may not be willing to install the appliances that you need.  
  • June 12 2014
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