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09-03-2008 at 9:06 AM
MrsTJ
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Joined on 09-19-2005
South Bend, IN
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MrsTJ is not online. Last active: 12-02-2008, 2:37 PMNewbie

Inspection results - Who pays?

We had our inspection yesterday (See my post below). I came up with 25 things that need updating, 18 of which I think the seller should complete. Seems like a long list - there are fewer higher ticket items (repair fire damage in attic, etc) and a few very minor issues (caulking, etc). I would maybe estimate total of about $2000-3000?

We originally offered $96,000 with 6% assistance, and settled on full price of $99,500 with 6% assistance.

What do we do now? My realtor hasn't been returning my calls as promptly as she used to.... Who pays for this?

 

Also - My inspector made it sound like FHA was going to come in and do their own inspection. Anyone know anything about that?


Courtney -- Isabella Addison 5/16/06 - Alivia Sunrise 9/6/07 (16 months apart)





 
09-03-2008 at 9:20 AM
brandalina
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Joined on 06-13-2003
new jersey
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brandalina is not online. Last active: 12-04-2008, 3:47 PMNewbie

The seller should pay for repairs if they agree to do them, which they don't have to. I'd be wary of giving them such a long list, especially for little things like caulking which you can easily take care of yourself, because it might put them off and they might refuse many if not all of your requests. You should really focus on just a few of the major issues that need to be addressed.

 
The mortgage company arranged for the FHA inspection to be done the same day as the appraisal.


NestBaby Baby Birthday Ticker Ticker 
09-03-2008 at 9:21 AM
vanillacourage
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Joined on 06-08-2007
66,463 Points
vanillacourage is not online. Last active: 12-04-2008, 8:52 AMSilver

If you're goin gto ask them to fix a lot of big items, I would not ask them to fix every teensy little thing.  If there are things you can do yourselves for minimal cost (i.e. caulking) then I would.  If you give them a big huge laundry list you do risk pissing them off and making them stubborn about everything, even the big ticket items.  JMO.


 
09-03-2008 at 9:23 AM
krjcmr
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Joined on 08-08-2005
1,019 Points
krjcmr is not online. Last active: 12-04-2008, 4:56 PMNewbie

 It depends on if you think the items are big enough that you want the sellers to repair or give you money back for repair.  It sounds like the costs would be minimal, maybe you could consider splitting it?  

Your mortgage company will be sending out an FHA appraiser.   While the inspection was to let you know problems that you *might* want to fix, the FHA appraiser will be appraising how much your house is worth and they may have some items that *must* be fixed before your loan will be funded. 

 We had our inspection last week, and while there were some smaller items that will need to be done, like caulking, we decided to not ask the seller to pay for these.   I'm waiting to hear back on our appraisal (done yesterday), and if that comes back with anything- then we will ask the seller to pay for those items. 

 
09-03-2008 at 9:52 AM
VazquezGal
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Joined on 01-26-2007
Somewhere in, AZ
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VazquezGal is not online. Last active: 12-04-2008, 1:10 PMBronze

Seller pays for all fo the repairs they agree to do... If there are some leftover that they do not agree to fix then atleast you are aware of them but they will become your problem when you take ownership.

 About your REA not being as snappy as usual, I hate that. It's like they are all over you when you are looking to buy but once you have they dont care because they think they have already sealed the deal. My broker got like that for a bit after we did our purchase agreement but I got up in his face and told him he better help or I would go with the builders lender, he is much more responsive now....

I do believe there is a seperate FHA inspection and appraisal.... I kinda forget what it is all about though... Ask you REA (when he finally gets back to you)

 


DH and Me Posing at our New Home.

Merry Christmas!
 
09-03-2008 at 2:19 PM
Mrs.Sully
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Joined on 03-22-2007
Telluride, CO
13,550 Points
Mrs.Sully is not online. Last active: 12-02-2008, 9:13 PMBronze

If the seller agrees to make repairs, then he pays for them. But, keep in mind that he does not have to agree to do anything. It's just another point of negotiation.

I agree with PPs, if you're giving a list of a lot of big-ticket items, don't add on some small, nitpicky items that you can easily do yourself.

And, to address this:

VazquezGal:

 About your REA not being as snappy as usual, I hate that. It's like they are all over you when you are looking to buy but once you have they dont care because they think they have already sealed the deal. My broker got like that for a bit after we did our purchase agreement but I got up in his face and told him he better help or I would go with the builders lender, he is much more responsive now....

You do realize that your agent likely has other buyers and sellers to work with, right? I would say that if you go more than 24 hours without some sort of a response, then you should be concerned. But oftentimes agents are out with other clients, in meetings, etc. and can't always be available. Hang in there.


M + S | June 30, 2007
 
09-04-2008 at 12:46 PM
des927
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Joined on 07-20-2008
Long Island, NY
9,104 Points
des927 is not online. Last active: 12-03-2008, 11:52 AMNewbie

Again, as long as the house isn't a short sale or being sold "as is" then whatever repairs the seller agreed to make before they should still make. They are also responsible to fix any structural damage (i.e. fire damage) Insect or termite damage, and heating.

Most things you can use to bargin. Anything minor-very minor, you usually have to do yourself.

Also if the seller refuses to make some of the repairs, again depending on what they are, you also might be able to get the price down based on the cost of the repairs.

 Also under FHA guidelines the house has to be cleared so often they will send there own inspector depneding on the damage reported in the inspector's report. I would talk to yor mortgage broker to find out what the guidlines are.

 

Also as long as your agent calls back within a 5 hour period, it's cool, if they are taking like days to get back to you I would be concerned. School just started so I know here in NY the market is picking back up and calls get start pouring in.

Good Luck! I hope everything works for the best.

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