So… I had my inspection and the pipes have burst and the heating system is junk
You’ve had your inspection, un-winterized the property and realize you have frozen pipes and/or the heating system doesn’t work. What do you do now?
You have a few options if you still want the property and all of them need to be approved by the Seller through the Listing Agent:
1) Can you get an FHA Rehab loan that covers the cost of a new system and any other repairs that were needed.
2) Will the seller consider paying for a new system? If not will they let you raise the price of the offer to cover it and have it paid to the contractor on the HUD?
Those things really should be discussed as options with your agent BEFORE you make an offer on a foreclosure. An agent who is familiar with the process should be able to walk you through a few scenarios before you spend money on a home inspection and an appraiser.
