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@Anonymous wrote:
I'm confused....my lender has said that we will need to make the minor repairs of flooring and lighting before we close on a HUD home. From what I have read HUD clearly doesn't allow this....what can I do?
This is more common than you would think.
HUD doesn't want the buyer to make repairs and if the home is a foreclosure (bank owned) or a short sale the seller won't or can't make repairs. The work around is for the buyer to do the repairs before closing and have the appraiser come inspect the property after the repairs are done. If it is a large sum of money for the repairs, then naturally you might not want to do them and just find another property. The risk you take is making a repair at your expense and then the property doesn't close for some weird reason and you are out the money that it took for the repair. Talk to your Realtor about the risks involved. See if s/he can come up with another solution. In any event, the lender can't close without the completed repairs and the reinspection by the appraiser.