FHA Appraisal Guideline Question?
I recently had an FHA appraisal done where the appraiser wrote:
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The propery currently has well water but there is city water in the street. The subject is 230 ft from the hookup in the street. The cost to hookup to city water is approximately ,000. Obtain a quote from a contractor.
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Can the bank waive this requirement?? Because there’s no way I’m going to go thru w/this deal if I have to pay any more money outside of closing costs. I just don’t have it. What are my options here for this FHA Loan? I heard the bank can give me a waiver…help!
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Tags:
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Tags:
chait,
city water,
closing costs,
condo rules,
deed in lieu,
deed in lieu of foreclosure,
fha appraisal,
fha loan,
fha mortgage loan,
gefa,
hookup,
midvale utah,
money,
mortgage fraud,
outboard engine,
rav moshe,
renting real estate,
rich yung,
sears holdings,
sewer infrastructure,
water consumption,
water restrictions,
waterparks
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If the cost is excessive it can be waived- but with the availability of hooking to the public water FHA would rather you do so. The word "excessive" is not defined by FHA so…. you need to call your lender.
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