Home Buying in Merrillville>Question Details

Matthew Coll…, Home Buyer in Merrillville, IN

Seller already fixed problems I requested from home inspection, now bank wants them to fix ALL problems, they are not willing to , what do i do now?

Asked by Matthew Collins, Merrillville, IN Wed Jul 11, 2012

FHA Loan,

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You should review your contract with your agent, if your offer was subject to FHA financing, the seller should make repairs required by the lender per FHA. If not, you may want to change your financing to allow borrowing extra money to fix repairs, FHA 203 or 203K. Depending on the amount of the repairs required. Your agent should be able to answer you on these questions, if not, talk to his/her Broker.
If the seller is not going to do the repairs required to do the loan, you may have to look for another house. Hope this helps!
0 votes Thank Flag Link Wed Jan 2, 2013
get a 201K loan and fix them yourself after closing.
0 votes Thank Flag Link Fri Jul 13, 2012
Mr. Collins, definitely looking over your contract to see what repairs were included before the offer was accepted is the best thing to do. Have your agent look over it with you to determine what the seller was responsible for.
0 votes Thank Flag Link Wed Jul 11, 2012
In my home inspection response i asked for a few things to be fixed, leaking pipe, GFI outlets, just some basic things and they agreed and fixed everything i asked for. Now the bank is requesting they fix all problems (Things I was willing to do after ownership) and the seller wont agree. I really dont want to lose this one, are there any other options?
Flag Wed Jul 11, 2012
What does your contract say about lender required repairs? Helping you to understand your contract is important role of your buyers agent. Have you spoken with your agent?
0 votes Thank Flag Link Wed Jul 11, 2012
After the inspection I filled out a "Buyers Inspection Response" and listed the items i wanted fixed, they agreed and already completed these repairs.
Flag Wed Jul 11, 2012
contract does not mention lender required repairs.
Flag Wed Jul 11, 2012
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