satisfactory completion certificate charges in GFE

Asked by Arslan Basharat, Albany, NY Sun Feb 28, 2010

I received a revised GFE from my lender which now has $125 added for a "satisfactory completion certificate". I am getting an FHA loan and I do have a condition on appraisal that has to do with fixing patches of exterior scaling paint.

I was wondering whether this $125 charge is common and justifiable? Any comments/suggestion?

Help the community by answering this question:

+ web reference
Web reference:


Kevin Clancy’s answer
Kevin Clancy, Agent, Albany, NY
Sun Feb 28, 2010
This is a typical charge as the lender generally has to send the original appraiser back out to the home to inspect, photograph, and document that the FHA required work is completed. The lender will obviously incur a fee from the appraiser for this service and that is generally what the charge is. Hope this help!
1 vote
Joel Koval, Agent, Clifton Park, NY
Sun Feb 28, 2010
The condition on your appraisal report requires the appraiser to reinspect for compliance after the work has been completed. The $125 charge is for that reinspection and the associated paperwork. It's not an uncommon occurance when going with FHA financing, and there really isn't any way to get around it. $125 may be a little on the high side, but not outrageously so, and probably not worth arguing about the difference.

Good luck with your closing.

Joel Koval
Licensed Associate R.E. Broker
0 votes
Arslan Basha…, Home Buyer, Albany, NY
Sun Feb 28, 2010
thanks for the responses guys.

The issue is that no repair has been done yet. I can't paint because of the weather, so I have requested to setup an escrow for now. I'm guessing that the lender charges in advance for future trip by the appraiser. I hope this whole paint condition doesn't cost be unreasonable extra charges like this. I was hoping for the weather to clear up a little so that I could paint before my March 19th closing, but I guess not.
0 votes
Lewis Beynon, Agent, Clifton Park, NY
Sun Feb 28, 2010

Yes, this additional fee is for the FHA "inspector" having to go back out to the house to re-inspect the home to insure the repairs were done.

Best wishes on a smooth closing!!!

Web Reference:
0 votes
Search Advice
Ask our community a question

Email me when…

Learn more