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Rik1474, Home Buyer in Sacramento, CA

looking for approved fannie mae contractors in Sacramento Ca.

Asked by Rik1474, Sacramento, CA Sun Mar 20, 2011

home in escrow but seller will only allow approved contractors to do any repairs on fannie mae home

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5
Is that coming from the lender, or fannie mae?
0 votes Thank Flag Link Mon Mar 21, 2011
I dont think Fannie Mae has a list of approved contractors, the inspectors do require the work be up to standard so should be handled by a licenced contractor.
0 votes Thank Flag Link Sun Mar 20, 2011
Fannie Mae does not allow a buyer to do repairs on a home until after close of escrow, in any situation that I know of. If you're speaking of the listing agent having approved repairs completed? they have their own list of approved contractors that they will use and the buyer is not involved in that process at all.

Could you please explain in more detail the circumstances that you are describing?
Web Reference: http://www.suearcher.com
0 votes Thank Flag Link Sun Mar 20, 2011
The listing agent might be able to provide this information. Maybe he/she can get a list from the asset manager. It's unusual that they even allow repairs at all before the close of escrow.
0 votes Thank Flag Link Sun Mar 20, 2011
Ute Ferdig -…, Real Estate Pro in Newcastle, CA
MVP'08
Contact
Ask your agent or lender to clearify "seller will only allow approved contractors to do any repairs"?
If the work cost over $500. then, it needs to be done by a California licensed contractor.
0 votes Thank Flag Link Sun Mar 20, 2011
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