Range Oven in FHA property

[ipari21]

Can someone confirm if a range oven is mandatory for FHA properties? Thank you, it would be greatly appreciated!!!:new_newbie:

 

[Pilgrum]

http://portal.HUD.gov/hudportal/HUD...administration/hudclips/handbooks/hsgh/4150.2

 

[zdfenton]

That's personal property, not real estate

 

[Vermonter]

That's personal property, not real estate

Freestanding, yes....built in would be considered a fixture.

 

[ipari21]

Yes, it is for a FHA Condo. Please advise! Thank you...

 

[Pilgrum]

Only a "space" for prep of meals is required. Appliances are not.

 

[Mountain Man]

No, a stove is not required.

Freestanding, yes....built in would be considered a fixture.

In my flippers when a built in unit is missing, that's easy to fix. I just have my guys cut the cabinet and baseboard, trim it out and we slide in a free standing. For some reason built ins cost a grand more than a good free standing. Problem solved, market buyers are happy.

 

[Lloyd Bonafide]

Not required for FHA, but there are lenders that will sometimes require it anyway.

 

[SutnNC]

Yes, yes and yes (agree with the above and LB).......do check with your client for any potential overlays required by them.

 

[incognito]

So many answers. So many incorrect. So many useless. A few dead on but unsupported. Most FHA questions can be answered directly from FHA.

The answer to the OP's question is:

6. Appliances: The Valuation Protocol (page D-26 of Appendix D, Handbook 4150.2) requires the appraiser to note the appliances that are present in the home at the time of inspection and whether the appliance is considered personal property or part of the real estate. The protocol further directs the appraiser to treat non-functioning appliances/equipment as deferred maintenance in the valuation process.

The manner in which an appliance is attached to the dwelling would determine whether or not an appliance should be considered part of the real estate. In some real estate markets, it may be typical and customary for certain appliances to convey with the real estate. In these situations, those appliances should be considered real estate and treated as such in the valuation of the property.

In some cases, such as that of REO properties, all or some of the appliances may be missing and there may be damage to the floor, wall or ceiling finish as a result of the removal. Depending upon the magnitude of the damage, the appraiser is expected to treat the damage to the home as deferred maintenance and reflect such in the conclusion of value. Missing appliances must be addressed by the appraiser in the valuation process, particularly when the comparable sales included a full complement of working appliances.

In cases where appliances are missing and minor repairs may also be needed, lenders are encouraged to have the borrower take advantage of the Streamlined 203(k) loan product, which has no minimum repair cost threshold and is designed to cover such improvements/replacements.

No where, under ANY circumstance (even condos) does FHA require a range/oven.