Question Details

Igor Korosec, Real Estate Pro in Los Angeles, CA

lender required repairs

Asked by Igor Korosec, Los Angeles, CA Tue Mar 20, 2012

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4
It is part of the golden rule, he who has the gold makes the rules.
0 votes Thank Flag Link Wed Mar 21, 2012
And the question is? Please provide a complete question.
Web Reference: http://www.phgbrokers.com
0 votes Thank Flag Link Tue Mar 20, 2012
Under the following circumstances, the lender will require repaires:

-a termite report and clearance were requested in the body of the contract

-the appraiser makes note of a health and/or safety issue that, as a condition of the appraisal, must be addressed.

A few years back, FHA removed its Section I and Section II pest report requirements. FHA repairs are now at the discretion of the FHA appraiser. That being said, an FHA appraiser will be more thorough in the visual inspection of the home; acting as a quasi-home inspector.
0 votes Thank Flag Link Tue Mar 20, 2012
Some lenders required some kind of repairs. Like FHA loan requires some specific repairs.
0 votes Thank Flag Link Tue Mar 20, 2012
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