Chosen by Asker

Homes don't require home inspections for lending purposes. However, there are things that the appraiser would have to note that can cause a loan denial. Usually have to have heat. A roof that is not visibly leaking or coming off No smell of mold or visible mold. No broken windows (would need to be fixed). All doors more than 1 foot off the ground would need to have steps or a deck. Exterior must be intact. No major holes in drywall. At least one bathroom should be fully functioning. Sink must be functioning, and if there is a spot for a dishwasher it must be present. Stove and refrigerators are personal property. Banks don't care about wallpaper and paint condition. Must be larger than 750 square feet. However, here are other things that are grounds for automatic denial. 1. Property that is legal non-conforming...this is usually a residence zoned business that has been grandfathered in. However, if it burns, it cannot be built back as residential. 2. Property where the appraiser has marked with a marketing time of over 90 days. 3. Property marked in a "declining market"...this is very, very bad for "foreclosure" neighborhoods. Those are the basics.

by Expert Realtor

1 month ago

Asker's Rating: 

It depends on the lender, but major repairs like electric, the roof, and foundation will be what will get you denied for the house being uninhabitable.

by hensen- 1 month ago