I know this answer comes late in the game and I hope you have already closed on your sale.
Here is a perspective from a Pennsylvania mortgage lender.
Your buyer's lender should be able to quickly assure you that that you have a vaible buyer. Additionally, you should know the buyer is serious if they are procedding with inspections that cost them money.
Most mortgage loans might not be obtained for properties that are in need of repair determined by the appraiser. If it is small in scope and cost sometimes an acception can be made where 1.5 times the amount of repairs can be held in escrow by a closing attorney but this is a rare exception.
As I stated before a roof that is in bad need of repair might be an impediment to you getting a clean appraisal and the property being in a condition that your buyer's bank will see as safe collateral. Assuming it is that bad might limit you to cash purchasers only which are a very small and picky group traditionally. You might have to be unnecessarily flexible on your price if you offer you home in an unavailable for traditional financing or even if you expect the buyer to make repairs upon moving in.
There are lending options that can be research on HUD.gov called the FHA 203K and its streamlined version. These loans allow for a purchase or repair project to be financed. This product knowledge could be used as a selling point in that you allow the buyer to do it their way. These programs are perfect for over coming objections on any property whether it is repair items, expansion, upgrades or just the new owner wanting to personalize the home to their taste. You do not have the ability, to my knowledge, to refinance if your home is currently or has in the last six months been listed. I would recommend informing your listing agent of this as a potential selling point and then contacting your local mortgage lender found through HUD to go over the details of the loans ability to help you in your sale. If you have other questions concerning your options please do not hesitate to contact me directly to discuss in detail. Best of luck!
Patrick Cashman NMLS#215938... more