First thing, please do me a favor and define “violation”. Do you mean something that is simply known to not be up to code, or something for which a citation has been issued from a local government agency? And if it’s the latter, has the citation been resolved?
Admittedly, HAND has always been my weak spot, but I’ll consult with the HAND director on this for you. My educated guess at the moment is that in either situation, move-in won’t be allowed until it has been taken care of. Specifically, an electrical problem will likely be considered a health and safety issue.
My less-educated guess is that there is some latitude where REO’s are concerned since virtually all REO’s are sold “as-is”
Depending on how serious it is, it could also invoke the major repair/renovation feature where the first six months of mortgage payments are rolled back into the loan and the interest rate reduced to keep the payment the same. This allows you to find and afford temporary lodging while the work is being done.
In any event, I’ll get with the HAND director and get some concrete answers as soon as I have a few more details.
Thank you for the response as always. Your educated guess is correct! I was able to get in touch with my local rehab specialist. For the record, the violations were for pest and inadequate fixtures cited by the city.