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Home listed with no heat?

First time (potential) home buyer here. A house I’m interested in has been on the market 6 months, and in that time the price has dropped 35k. The home has no working heat, but the seller is “willing to negotiate on this”. I’d understand a bit more if they were going the cash only route, but the listing terms include cash, conventional, and FHA. Am I missing something? I thought lenders didn’t approve loans for homes with no heat. The place is a total gem, redone top to bottom (well.. almost). I don’t have a clue why they didn’t handle the heating issue. They say either a new gas line needs to be dug (refundable by area gas companies if you install a gas appliance within 3 months) or a new heat pump installed (my state has excellent rebate programs).

I guess my question is, does anyone have insight into what could be going on behind the scenes? Obviously you can’t know what’s going through the seller’s mind, but maybe you’ve seen something similar? It’s still 15k out of my budget, but I’d like your advice in case it dips into my price range. I check the listing every day; the last drop (20k) was about 3mo ago. Thanks so much!

Note: I haven’t reached out to ask these questions directly because I feel silly, since as it stands the house out of my budget.

submitted by /u/danemama2020
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1iszmdo/home_listed_with_no_heat/
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