Scott Patterson
01-31-2015, 09:47 AM
Shouldn't all real estate agents know what FHA or VA is going to require when it comes to the basic condition of a home? IMVHO, Yes they should!
I'm just frustrated with the way so many agents are showing prospective buyers homes that are on the market when they know that their client will be going with an FHA, USDA or VA endorsed loan. For the most they all have basic and similar requirements that home must meet. One big requirement and it is the most visible part of a home is the ROOF, it must be in good condition! When you drive up to the house the roof is one, if not the first thing you can see. Yet it appears that it is the last thing that so many agents and their clients look at when they look at the house.
Okay, what has perpetuated this little rant has to do with one home last week and two homes this week that I inspected. Two were going to be FHA loans and one was going to be a VA loan and all were with three different RE firms and agents. When I drove up to all three I could see missing shingles and on one the roof was patched with rolled roofing on a 8/12 slope in addition to missing shingles! All three also had multiple layers of shingles. So that covers the roof…. Lets move on to the electrical and everything else…..
One home had K&T and that was even listed on the sellers disclosure form! One home had all of the ceiling fixtures removed with wires hanging from the ceilings (Yes, the power was off, this was an REO), all of the carpet had been torn out, the water heater had been removed and this was the VA loan home! The last home had split cast iron plumbing that was visible and dripping in the basement as soon as you got to the bottom of the stairs and looked up!
Why, as a RE agent would you even tell your clients to get a home inspection when you know or should know that the home is not going to be able to pass the requirements for the loan that your client is going to be getting! It is just so frustrating on my part when I get homes like this and I know that money is tight with the buyer. I know that they will back out of the sale and will need to look for another home and that their agent really could care less that they just spent $350 or whatever on a home inspection that should have never happened.
Anyway out of the above three prospective buyers I just booked a new inspection for one of them for next week. After looking at the MLS photos, this one might be in better condition but it is still 60+ years of age and I'm betting the electrical and plumbing is original based on other homes I have looked at in the area.
Just had to vent a little this morning!
I'm just frustrated with the way so many agents are showing prospective buyers homes that are on the market when they know that their client will be going with an FHA, USDA or VA endorsed loan. For the most they all have basic and similar requirements that home must meet. One big requirement and it is the most visible part of a home is the ROOF, it must be in good condition! When you drive up to the house the roof is one, if not the first thing you can see. Yet it appears that it is the last thing that so many agents and their clients look at when they look at the house.
Okay, what has perpetuated this little rant has to do with one home last week and two homes this week that I inspected. Two were going to be FHA loans and one was going to be a VA loan and all were with three different RE firms and agents. When I drove up to all three I could see missing shingles and on one the roof was patched with rolled roofing on a 8/12 slope in addition to missing shingles! All three also had multiple layers of shingles. So that covers the roof…. Lets move on to the electrical and everything else…..
One home had K&T and that was even listed on the sellers disclosure form! One home had all of the ceiling fixtures removed with wires hanging from the ceilings (Yes, the power was off, this was an REO), all of the carpet had been torn out, the water heater had been removed and this was the VA loan home! The last home had split cast iron plumbing that was visible and dripping in the basement as soon as you got to the bottom of the stairs and looked up!
Why, as a RE agent would you even tell your clients to get a home inspection when you know or should know that the home is not going to be able to pass the requirements for the loan that your client is going to be getting! It is just so frustrating on my part when I get homes like this and I know that money is tight with the buyer. I know that they will back out of the sale and will need to look for another home and that their agent really could care less that they just spent $350 or whatever on a home inspection that should have never happened.
Anyway out of the above three prospective buyers I just booked a new inspection for one of them for next week. After looking at the MLS photos, this one might be in better condition but it is still 60+ years of age and I'm betting the electrical and plumbing is original based on other homes I have looked at in the area.
Just had to vent a little this morning!