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I was all ready to close on my house, when the UW comes back stating that because there were conditions on the property inspection (Not the Appraisal inspection), that needed to get cleared up...so we need a re-inspection to clear the items. We need these done ASAP so the inspector can come tomorrow so we can fund by Wednesday...crazy, i know.
There are others, but here's the ones i'm concerned with:
1) Dishwasher missing racks (pretty difficult to find in < 24hrs)
2) Induction Stove, only 3 of 4 burners work. (replace/fix by certified tech)
3) One window is poly-sealed shut and some others "don't lock" [aluminum 1970's] (cut polyseal/lubricate?)
4) Sliding glass door bottom bearing not good making hard to open door (maybe lube it?)
So First let me say I do not have enough additional cash for an escrow hold-back on my side until Friday for the dishwasher and stove(the contract's 3rd extension expires on Wednesday).
What are the best solutions here? Can we NOW remove the Stove & Dishwasher? Ask the seller to place the $ into escrow as the hold-back?
Keep in mind, the seller is an investor and bought from out of state...he replaced the hot water heater, fixed the non-fireproof stand, fixed fire hazard flue touching a roof joist, fixed electrical box, fixed a slab leak, fixed a busted garage door spring last minute....and this guy is basically cutting it close to breaking even...I don't want to ask him to perform any repairs, but the friggen UW is killing us at the last minute here PTF.
While I typically side with lenders, those are some pretty minor items!
I don't see how you are possibly going to fund this week.
This is my fifteenth Thanksgiving week in Mortgage, and every year I say the same thing: Don't schedule any closings this week! And then I forget, or loans slide into this week.
I don't see how escrow holdbacks could work, either.
I would honestly raise holy Hell to the Underwriter, have the file escalated beyond that person. Seems like you have a new, or scared underwriter.
First, was this a flip? If not, how in the heck did the underwriter get their mitts on the home inspection? Items 3 & 4 are safety/code issues and must be corrected. The underwriter should be directed to the property standards memo written in 2005 for items 1 & 2 and neither should be a condition. Just because it's not on the appraisal, doesn't mean you can ignore health/safety/code violations.
Normally, Thanksgiving is a tough week to close, but when compounded with the last day of the month, it's just that much more difficult. Work on 3 & 4 & fight 1 & 2.
First, was this a flip? If not, how in the heck did the underwriter get their mitts on the home inspection? Items 3 & 4 are safety/code issues and must be corrected. The underwriter should be directed to the property standards memo written in 2005 for items 1 & 2 and neither should be a condition. Just because it's not on the appraisal, doesn't mean you can ignore health/safety/code violations.
Normally, Thanksgiving is a tough week to close, but when compounded with the last day of the month, it's just that much more difficult. Work on 3 & 4 & fight 1 & 2.
Good luck! (And DM me if you need the FHA memo)
Yeah the reason they got their mitts on it was that we had written an addendum to get the hot water heater flue fixed "as per inspection report"....and apparently that was the first mistake, my agent is newly licensed but has backing from someone with over 20 years in the biz...I saw somewhere else on another forum/website where if you add the inspection to an addendum the underwriters love to go berserk.
about item 4 the sliding glass door isn't THAT bad...it's just a little tough on the last 30% opening it.
The joys of FHA. I don't know how handy you are buy locks are easy to get at the hardware store. Each window will take four screws.
I wonder if you can just remove the dishwasher.
If it is only tough the last 30% it might not be even. The opening might shrink or the track might not be screen down. If you push down on the track, does it give and move down. Measure the height an the place it is binding . You can also adjust the wheel height.
--used screw-in window-locks ... OK'd.
--Lubed the sliding door..OK!
--Knocked down an unsafe wooden staircase going up to a retaining half-wall...OK'd
--Found some dishwasher racks that fit...OK'd
--Smoke Detector doesn't take 9V battery...Agent is replacing...inspector will OK with pics.
--Window poly-sealed...window got cracked...Agent is replacing the pane and will break open seal and take pics...inspector will OK!
--Caulked top of overflow on bathtub where there was a gap...OK'd
--Stove NOT OK'd by inspector...UW will accept a LOE/LOX explaining that I'm okay with the 4th burner not working (as i plan on replacing it anyway)
Seems like we'll be good to go once the agent gets done with the small fixes remaining. Now just waiting on 2 credit supplements from collection agencies and we should be good to sign docs, close and fund.
Happy Holidays, buddy. Your situation is the first I've seen here in a long time that merits confusion and anger.
lol, i know....get this....my lender said last night they're making sure to fund today! Wohoo! He's just waiting on loan docs this morning then should be able to sign in a few hours.
The dishwasher and stove are not health or safety issues and should have never been conditioned in the appraisal report.
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