HUD home we are purchasing has new roof leak
Hi All -
I put a bid, and got an acceptance, on a HUD home back in August. Due to an inexperienced relator and unresponsive property management company, we only just now completed the inspection. When we reeneterd the home from our initial walk through and showing (when we decided to put an offer on it) there was not any evidence of a leaky roof, and the property condition report we recieved from HUD stated the roof was in good condition. When we entered now, a month later, to complete the inspection, there was water dripping from the ceiling in a small spot by the door. The paint is also bubbling and peeling in the spot as well.
Since this is a new property condition I am reading that we can put a damage report for the property. My contractor said the damage now, is negligible and should be under a grand to fix. I still want to proceed with the sale but I would like to property secured from continued damage now, before the leak gets worse. We don't close until early next month. Does anyone know what the chances are of us getting someone out there to fix it, or at least provide a temporary repair?
Also - we are getting FHA financing and have been assured by our lender that the small leak as it is now should not be a problem for our repair escrow, but if it continues it could be. Everything I am reading now says that leaky roofs are a no-no for FHA financing. I am conflicted on who to believe and how to proceed.
Any thoughts at all are very appreciated.