What are the minimum property requirements for an FHA loan on a HUD house? ?We are close to closing on a house that is deemed HUD-Insured but has a split in a pipe that is just going to an outside spigot, nowhere else. ?So all the faucets, all the toilets, the entire inside has no pipe issues. ?The heat and electricity has been on all winter; and everything was winterized except apparently this spigot line. ?It is less than a $5 fix however per HUD, they sell "as-is" and will not make any repairs, and the buyer is un-authorized to touch the place until after closing. ?
Is this small little, irrelevant kink going to throw a wrench in the whole thing? ?I'm hoping their will be some type of exception made for something so small when it doesn't affect the livability of the house since you can turn that entire line off with a valve and not affect anything else.
Source: http://www.zillow.com/advice-thread/HUD-FHA-Minimum-Property-Requirements/478926/
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