“Home Inspection has 21 Issues”
After speaking to the buyer and the selling agent, the seller (bank) is not willing to repair anything. I recommended that we change from a FHA loan to a FHA 203 K loan in order to handle the repairs.
I explained that to redo this application I will need a detailed bid for the repairs that need to be made. They contacted a contractor and got a bid to do the repairs. The bid was $26,000. Based on the purchase price and the bid the buyer still wants to move forward.
The selling agent presented all the information to the listing agent along with an addendum changing the loan type and extending the closing date. So far, the seller has said NO.
I have some questions that need clarification as soon as possible. The seller is giving us a hard time about changing the type of loan and extending the closing date. Is there any way we can talk today at about 2:15? I’d like to do a three way call with our Realtor, as she has never been involved with an FHA 203 K transaction before. A little coaching may help, otherwise I’m going to walk away.
Hopefully after my conversation it accomplishes something. I have also offered to speak to the listing agent as well, but not sure I will be taken up on the offer.
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Joe Petrowsky, NMLS #6869
Right Trac Financial Group, Inc. NMLS #2709
110 Main St.
Manchester, Ct. 06042
Office: 860 647-7701 x116
Fax: 860 647-8940
Cell: 860 836-9294
Joe Petrowsky does not guarantee nor is in any way responsible for the accuracy of the information provided herein, and provides said information without warranties of any kind, either expressed or implied.
Equal Housing Statement: We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing becuase of race, color, religion, sex, handicap, familial status, or national origin.