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36109 : Real Estate Advice

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  • Local Info3
  • Home Buying3
  • Home Selling0
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Activity 5
Sun Feb 5, 2012
Tammy Chavers answered:
I only see one home for sale in the 1600 block of Coliseum Blvd on our multiple listing service. There could be others for sale by owner though. 1645 Coliseum is for sale for $48,000. There is a lot of inventory right now but at a great time to buy. Interest rates are really low. Please let me know if I can help in any way. thanks, Tammy at REMAX 334-782-0550 ... more
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Thu Jan 26, 2012
Terri Vellios answered:
Contact your buyer's lender. They are the ones who condition the loan. Ask if it is ok to hold money in escrow to have the work done after close Another option of having the seller make the repairs prior to close at the buyer expense.

All the best toy you and your buyer.
... more
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Thu Oct 21, 2010
Jan Milstead answered:
@ Ron - very well said...
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Mon Jun 14, 2010
David - Appraiser answered:
This was taken directly from HUD/FHA - Repair Conditions

Chapter 1
Appraisal & Property Requirements
Page 1-22

4. Clearing Conditions on Existing Homes

All repair items required by the appraiser or underwriter must be inspected and the clearance documented.

A professionally licensed, bonded, registered engineer, licensed home inspector or appropriately registered/licensed trades person, as applicable, must provide documentation that all deficiencies have been acceptably corrected upon completion of repairs. "As applicable" has been determined to mean any individual who the lender deems to be qualified, which might be the appraiser.

Professionals as defined above may use their company's forms and letterhead to make the certifications. Appraisers and Compliance Inspectors are to use the Compliance Inspection Report, form HUD-92051. The individual signing Section II must be the person who actually performed the inspection. Section III or IV, as appropriate, is to be signed by the Direct Endorsement Underwriter.
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