House qualifying for FHA loan?

[LCD328]

Thanks, I didn't know I could do that. My realtor is really great, I'm sure he would have suggested it, if I decided to make an official offer.

[Peter1142]

A house built in 1973 will definitely not have knob and tube, but instead possibly have alluminum wiring, and is definitely something that should be factored in to any offer you make. They should either replace it or give you money off.

An appraiser is highly unlikely going to be looking at the wiring if they even know what they are looking at.

Always have a mortgage contingency in the contract. If you can't get approved because of the wiring, you will be able to walk away with your deposit.

[LCD328]

Thanks, I'm still on the fence about making offer. I don't want to spend money and time on making an offer and getting inspection, with the possible that it doesn't pass. Think I might pass this house up and keep looking.  The advice about a contingent clause in offer is going to be remembered for the future offers.