Official Post Whore Thread
09-30-2009, 05:22 PM
#1832
Registered User
Well, I just typed a shitload of details, but it timed out during and I erased it all. 
So......
Looked at this house July-ish, decided I didn't want to fool with repairs. Realtor calls in August notifying me of a 20K price reduction. I talk with the bank and decide to go with a convential loan so I don't have to make any repairs prior to closing. I sign contracts and all that jazz. Appraiser for the bank comes out, looks it over..makes special notes of repairs. (wood rot all the way around base of house, 5 windows rotted, porch rotted, couple holes in the sheetrock etc...) bank notifies and explains that because special notes were made, those repairs have to be done prior to closing.
NEXT........
So......
Looked at this house July-ish, decided I didn't want to fool with repairs. Realtor calls in August notifying me of a 20K price reduction. I talk with the bank and decide to go with a convential loan so I don't have to make any repairs prior to closing. I sign contracts and all that jazz. Appraiser for the bank comes out, looks it over..makes special notes of repairs. (wood rot all the way around base of house, 5 windows rotted, porch rotted, couple holes in the sheetrock etc...) bank notifies and explains that because special notes were made, those repairs have to be done prior to closing.
NEXT........
09-30-2009, 05:25 PM
#1833
Registered User
Seller has in contract (that I've already signed), they will not make any repairs prior to closing. But, will allow me to considering repairs/price. I get an estimate 5k in repairs. I decide to go ahead and make repairs. So now, I'm funding repairs on a house that isn't mine. Which I'm supposed to get re-imbursed at closing by adding the cost of repairs into the loan.
NEXT
NEXT
09-30-2009, 05:41 PM
#1835
Registered User
part 3 timed out as well. 
So yeah, basically where I'm at. Closing is Monday (after being extended twice) just about all repairs are done except for windows that haven't arrived yet. I'm out 5K at the moment. I've worked on the house with my uncle everday after work for the last two weeks. I'll be coming out on top when it's all said and done but, it has been a royal pain in the ass.
So yeah, basically where I'm at. Closing is Monday (after being extended twice) just about all repairs are done except for windows that haven't arrived yet. I'm out 5K at the moment. I've worked on the house with my uncle everday after work for the last two weeks. I'll be coming out on top when it's all said and done but, it has been a royal pain in the ass.
