Profile picture for barracudacatcher

just bought a house, has roof and electrical issues is it covereded under FHA?

just  bought the house and it has leaks on the roof also some of the electrical breakers are doing their job, but then there is no power  in most part of the house, is it covered under the FHA  insurance?..
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November 12 2010 - Santa Ana
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Profile picture for the_country_hick
Did you have a house inspection done before buying the house?
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November 12 2010
Did you go to the listing agent to purchase this home? If so, this would be a perfect example why you get your own agent, agents sometimes are blinded by the double commission and fail to disclose because of it.

At any rate, if their were two agents, you should have received two Agent Visual Inspection Disclosures (AVID) one from the listing agent, one from the selling agent, should have at least picked up the electrical; Transfer Disclosure Statement (TDS) even if it is a bank;  Home Inspection Disclosure (HID); Buyer Inspection Elections (BIE) rarely used, I use it everytime, then your agent should have STRONGLY advised you verbally and on paper to get a home inspection.

That would have been SIX opportunities for you not to be in the situation you are in today. First time home buyers and even experienced investors get hit all the time. You are rolling the dice if you don't get a home inspection that would have probably cost $350, depending on the size of the home.

The brokerage I use to work for had an agent that represented both side of the transaction and the buyer bought a house where the foundation was dirt. I guess what had happened is the buyer bought the house went to change the carpet and when they lifted the carpet it was a dirt foundation. In my opinion, there had to be more to the story, because as the agent I am not responsible for lifting carpet, even as intense of a inspection I do, if it was hard packed dirt, I would have probably missed that one. Anyhow, the brokerage ended up buying back the home from the buyer.

Buyer beware? No, not really... It is better described as, seller and agents beware. This is California and people sue when they get offended, not just burned. The buyer does have some responsibility, but as professional licensed agents, they are suppose to disclose, disclose, disclose... Check your paperwork and see if you find anything disclosing your issues.

Good luck to you.
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November 13 2010
FHA insurance is to cover the Lender in case you default , it offers you no protection. You should have had the home inspected by a qualified home inspector (Preferably a memeber of ASHI). I'm afraid all of the repairs are your responsibility and this is just one reason it makes sense to work with an experienced Realtor.
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November 13 2010
Profile picture for MoniqueU

buyer beware.
this is when a good Realtor should have been used.

unless you got the new and improved home warranty, the electrical won't be covered. nor will the roof. home inspections never guarantee the roof either. so you can't go after them.
 the FHA appraiser should have seen all the problems. file a complaint with the lender and with the appraisal firm. they have insurance.
the Realtor, the appraiser all have errors and omissions insurance , stake a claim.if you used a bank you are out of luck. but if you used a broker, they have bonds on their license. go after the bonds. they can't work if their bonds are tied up.

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November 12 2010
Unfortunately no, FHA Insurance is to cover the lender in case of a payment default.  Call your home warranty company and your homeowner's insurance to see if these are covered. 
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November 12 2010
Profile picture for the_country_hick
If the previous owner did not disclose those problems and knew of them (THAT is the hard part to prove) you may have recourse. But proving what they knew could be impossible. If this was a bank owned property it is as-is. If you ask the neighbors if they knew anything about that house having such undisclosed problems and they know about them you may have reason to contact a real estate attorney.
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November 12 2010

You need to have a home inspection right away when you get the home under contract.  That way, these items are found and you can ask the seller to fix them.  If you are out of the inspection period or have closed, I am afraid you are out of luck unless you did have an inspection.  If these
are obvious problems the inspector missed, you should take it up with him.
He may have insurance.

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November 12 2010
Profile picture for wetdawgs
Sorry.  FHA "insurance" is covering the mortgage, not the house.   If you obtained a warranty policy from the previous owner, then perhaps you are covered.  

What did the inspection discover before you purchased the house?

This is exactly why I'm such a stickler about having more money in the bank than the 3.5% down payment.
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November 12 2010
Did you receive a home warranty for a year?  If you are not sure, you can call the real estate agent that helped you purchase the home.  The electrical issues may be covered under the warranty plan.  However, the roof is generally excluded.  You can call cert-a-roof and they will repair the leaks, inspect the roof and then certify the roof for a period of time.  This works has a warranty plan on the roof and if it leaks again - you just call them to come out an fix for a small service charge.  Good luck.
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November 12 2010
Very sorry to hear this.  FHA "insurance" does not cover you, the borrower, for anything.  The "insurance" is to reimburse your lender in case you default on the loan.

Check your contract for the Seller's disclosure form (not sure it will  help, but worth checking to see if the seller hid anything) and any inspections you had done.

The appraisal report does NOT inspect for the kinds of issues you are experiencing.  They should have been detected if you had a home inspection though.
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November 12 2010
No, It is not covered by the FHA insurance. You should have a home inspection done to find out what all is wrong with your home. Hopefully you have not closed on this home yet. Good Luck.
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November 12 2010
Yopu should have had a number of inspections that would have showedYOU WHAT ITEMS ARE WRONG  with the house before buying it...You would of had the option to take it as is or walk away if the seller was not willing to correct any of the issues.  FHA does not repairs items like these !
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November 12 2010
 
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