Ty to the almost everyone on here for your support, I really appreciate it so much and have learned so much from this whole experience. Last update, we have rescinded the contract, the seller has decided not to fix the wiring, and after meeting with her LA and my REA she will not budge. She has an emotional attachment with the home we were now told, we dont think she really wants to sell it. Her own LA told her she was being silly, she wouldnt even let the contractors in to get a bid on the electric..so we have moved on and to be honest I am extremely happy at this point. It has gotten to be too much for me. To try to answer some questions, the gut rehab across the street is still in the running with us, only problem is we think the rear yard is too small for the kids the way it is fenced and the placement of the garage.That was the only reason we didnt offer on it, the garage is smack in the middle of the back yard!! As far as my DH, Yes I did defer to him when it came time to write the offer, he is the sole breadwinner here and I knew how much he wanted the house,we both wanted the same result, I just let him take the lead on this at the time. We are new to the whole homebuying thing,so it was a bit stressful at the time. Diane- sigh, Im sorry you feel the way you do about me, my thread is now done so I guess you can go find someone else to "pick on". I never asked for sympathy nor did I feel I was a victim, I was looking for advice which is what this forum is here for. Please think about how you post to people, I am not new here, just new to posting. If I were a first time poster you would have already run me off. Thank you all, we will be looking at new listings in the next few weeks and hopefully will have good news to share soon!! Don't give up first timers, there is home out there for us somewhere!!

Although the house is in seemingly great condition (passed inspection with flying colors) I'm afraid they'll find some fault with it, so it's not about price. It's about what the appraiser would find as safety issues. With FHA you never know.. I have been through the process at least 4 times in the last 3 years. This is the closest we've been, so I'm understandably stressed. I am enjoying the outdoors. Jogging, yoga, new pup, etc. worry is worry...easier said than done.

We purchased our home as an "AS IS" foreclosure with a VA loan.. I can tell you that there is no such thing as reduced pricing simply because it is listed as AS IS when it comes to a home loan if that is what you are asking? The lending party will inspect and appraise the house and property at what they consider a reasonable price whether you feel it is reasonable or not regardless of the asking price.. The inspection will reveal in written detail what is acceptable and what is not.. AS IS means as it stands NOW..meaning that the institution that owns it will not put any further work into that property for repairs etc. It's up to the foreclosing owners to decide if they will make any improvements such as roofing, etc. to get the property sold but usually AS IS means no further repairs unless the prospective buyers want to throw money into that property and bring is up to inspection codes before going to closing. It would be foolish to throw your own money into housing that may in the end not be yours.. Keep in mind that YOU will be paying for all inspections and appraisals most likely..we did anyhow.. I will admit freely that the VA and FHA have a very thorough inspection system which is for your benefit and we have dealt with both of these government backed loans. I will also mention from experience that foreclosures are almost certain to have liens of some type on them and ours was not discovered until the title search was completed and that lien must be paid off by the owning/foreclosure institution and that sure held up our closing date. I am sure others have had exceptionally good results with buying a foreclosed property, we didn't, and I will never deal with a foreclosed property again. I see nothing wrong with the concrete flooring as long as it's not cracked, it is acceptable flooring in different parts of the country. I would definitely contact the owning institution listed by way of the realtor and get your answers upfront as to who and what resposibilities are for each party. YOUR lending institution is there to safe guard you and themselves, not so with the sellers. Good luck and happy house hunting and get it ALL in writing!

Yes, a lender doesn't want to lend on a house that is partially gutted. And I agree with Linda, if you go for a FHA 203K loan, you can include the money to finish those rooms and get a loan. These loans are not for everyone and there is a minimum amount of money that they will lend for the rehab, but they do work.