All Forum Posts by: Samantha Coppinger

I was interested in a 203 k for another property, but I figured it might be a lot to start out with. I'm still trying find some contractors for some of the areas of a rehab work need to be done. Of course if the lender did the rehab for me, that would be a completely different story. And I will definitely be checking out that book!

Linda that is exactly my concern about the appraisal! I am planning on being owner occupied. I was ready after the inspection to drop the deal because of everything that needed to be done that i was unaware of at first glance. But they came back with seller was aware and willing to fix most things. I am aware that mold spores spread everywhere and are never really just localized. And thanks for the tip about the permits being pulled justin! I didnt even think of that and I should have. I never assumed the "agreed" fixes will be done or done correctly, in fact thats exactly what i am worried about! 

So im looking for input. I am 100 % new to real estate and am looking to get into buy and hold investing. I have been doing all the research i can since the beginning of the year. Im in the middle of an agreement of sale for an 100 yr old triplex on an fha loan. So it needs a lot of work. The seller is willing to fix most. They are not willing to fix the stair risers or produce proof of fire code certifications. The potential asbestos in the basement is not going to be removed. There are not going to be expansion tanks put on the water heaters. They cannot even find replacement screens for the windows so they are not putting screens in. The thing that really has me question if all the other major fixes not listed here are really going to get done is that they are not going to replace broken tile on the bathroom floor. Now underneath that tile floor is one soggy mess including mold. They agreed to get a contractor to fix this. To my understanding you have to rip up the floor anyway to repair this issue, which is more then likely due to the poor tile and deteriorating grout job around the bathtub letting water leak down. So if you have to gut why not replace the few broken tiles? And if that work is actually done and done right would fha even pass the mortgage based on the stuff above not being done? I do not want to tell my lender to have the appraisal done if it cant pass requirements and the seller isnt going to fix the things that fha needs done.