Registered: 1204923990 Posts: 15
Reply with quote #1
Sorry guys and gals, i'm a little rusty on FHA's policies. Does anyone know what FHA's policy on a wet basement? My subject has a walk up [exterior entrance only] basement. It is completely unfinished. The home was built in 1950. I inspected today and it was a rainy day however, there was a small amount of standing water in this basement. I'm sure all us have seen this at some point. Any input would be appreciated/helpful. Thanks
Registered: 1204633345 Posts: 2,304
Reply with quote #2
It cannot have standing water. Condition it on a basement inspection with advised remedy applied.
Same thing with a crawl. Unfortunately this is not easily remedied.. in a buyer's market they were forcing sellers to put in a b-dry or similar system in crawls and basements that run over 5k. It's kind of a big deal if someone wants to make it a big deal. __________________ We argue this: Meanwhile the agent's assistant just did 5 unofficial appraisal inspections they paired with a Zestimate and granted 90% LTV - all guaranteed no buy back.
Registered: 1452892955 Posts: 2,611
Reply with quote #3
Could be something as simple as a gutter downspout.
Subject to inspection and any repairs deemed necessary. Maybe the seller just mopped it before you inspected it? __________________ The AMC is my B!TCH!
Registered: 1341185158 Posts: 1,611
Reply with quote #4
It's an indoor pool
****I'm sorry, if you were right, I'd agree with you***
Registered: 1203700721 Posts: 6,107
Reply with quote #5
Look at the rust on those support poles and old water marks on those blocks. This isn't the first time. There is a serious drainage/moisture issue. Curable, probably.
Never compromise with a liberal!