My husband and I are a week away from closing on our first home (Jan 7). We are currently using a VA loan and up until this point have had no issues with inspection, negotiations, mortgage approval, etc. Now the lender is demanding that a bunch of repairs be completed before closing. Some of these repairs seem to be cosmetic - minor cracks in concrete, garage door replacements due to old ones peeling. We have no issues with making the repairs ourselves and will do it, we just want to close ASAP and own the house before we make these repairs. We offered to put money in escrow with a promise to complete within a certain number of days but the lender wouldn’t budge on that. Now we have to hope that the seller is ok with having us make repairs on his property and possibly pushing back the closing date. We will obviously rush to get these repairs done as quickly as possible. I’m just hoping the seller won’t back out and see this as something they don’t want to deal with. Has anyone experienced this before?
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/rswcpt/lender_holding_up_closing/
Comments
Post a Comment