When the house being purchased is an estate sale

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When the house being purchased is an estate sale

When purchasing a house with an FHA loan, certain repairs are required by the

stipulations of the loan.

Asked on August 11, 2016 under Real Estate Law, Iowa

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 4 years ago | Contributor

The buyer, if the house is bought as is. The buyer is the one taking out the FHA loan and who is obligated under it; the seller is not a party to the loan. That means that the buyer, not the seller, is the one obligated to comply with the loan tems. Obviously, the parties could have agreed that the seller would make some or all of the repairs--but you write that the sale was "as is," which means the seller does not have to do anything.


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