USDA Direct and In ground swimming pools

[stan_the_man]

---

@Anonymous wrote:

The rules exclude in ground pools. There is a property I am looking at that has a pool in the very back of the yard that is fenced in and covered and has not been used for years. I have absolutely no intention of repairing it for use.

The house is perfect for us. It is outdated but there is plenty of space and the house is sound. The issue is the pool.

The rules state that removing before or after closing is unacceptable. Is there a way around this? Filling it in? Can an exception be made?

There are slim pickings in my area for homes so unless something new pops up in the next 2 months, I am SOL.

---

OP, it appears that the USDA doen't have a no pool rule. It looks like you just have to jump through a few more hoops because they won't count the value of the pool in the appraisal -- which might disqualify from using a USDA loan, depending on how much you want to borrow versus the value of the property.

"In-ground swimming pools. The loan, not including RD fee, is limited to the appraised value WITHOUT the pool. The FHA appraiser must justify value 'as is' AND a value as if the property had no pool. The value of the pool must be established and justified."

http://www.rurdev.usda.gov/fl/qkgde.pdf

[Anonymous]

OP said USDA Direct, though? That link is for Guaranteed. You can't have an in-ground w a direct. http://www.rurdev.usda.gov/hi/rural%20housing%20programs.htm

[Anonymous]

---

@stan_the_man wrote:

---

@Anonymous wrote:

The rules exclude in ground pools. There is a property I am looking at that has a pool in the very back of the yard that is fenced in and covered and has not been used for years. I have absolutely no intention of repairing it for use.

The house is perfect for us. It is outdated but there is plenty of space and the house is sound. The issue is the pool.

The rules state that removing before or after closing is unacceptable. Is there a way around this? Filling it in? Can an exception be made?

There are slim pickings in my area for homes so unless something new pops up in the next 2 months, I am SOL.

---

OP, it appears that the USDA doen't have a no pool rule. It looks like you just have to jump through a few more hoops because they won't count the value of the pool in the appraisal -- which might disqualify from using a USDA loan, depending on how much you want to borrow versus the value of the property.

"In-ground swimming pools. The loan, not including RD fee, is limited to the appraised value WITHOUT the pool. The FHA appraiser must justify value 'as is' AND a value as if the property had no pool. The value of the pool must be established and justified."

Certain two facts on this post unequivocally the best we have all had. I'm totally agree with you.You'r 100% good here that It looks like you just have to jump through a few more hoops because they won't count the value of the pool in the appraisal.It is based on how much you want to gain access to in comparison to the value of the property.

[germaine47]

I agree with the no added value scenario.  My original contract included wall mounted TV, Front Loaded Washer and Dryer and all kitchen appliances.  MB came back and stated that "all those items had to be deleted (mark through on the contract) for no added value.  I was devastated because the Sellers then had no obligation to leave those items within the home.  However, the Sellers was awesome and left all the items  after the  Closing. That is another reason why I avoided homes with swimming pools, good luck. I went USDA Guarantee, see if the Realtor can mark through or state the fact that the pool will have no added value and you and the Seller can sign off.

[germaine47]

I would of wanted my home without all the nice things the Sellers left, I felt that the UW was thinking along the lines of me being bribed to purchase home.  I really needed a new washer and dryer anyway.