A bill to amend title V of the Housing Act of 1949 to permit the sale in "as is" condition of inventory housing held by the Farmers Home Administration.

Amends the Housing Act of 1949 to eliminate provisions that prohibit the Secretary of Agriculture from selling or disposing of pledged or mortgaged property acquired by the Secretary at any foreclosure or other sale unless: (1) the Secretary assures that such property will meet safety, sanitation, and energy conservation standards; (2) the recipient of the property is required to meet such standards before such property is occupied; or (3) such recipient is precluded from using such property for residential purposes.