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Update on Heavy Handed Lender

Real Estate Bits and Pieces

Blog by Susan Pruden

Cheverly, Maryland

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Update on Heavy Handed Lender

Posted at Real Estate Bits and Pieces by Susan Pruden

Wednesday, February 21, 2007

Categorized in: Real Estate Stories

Tagged with: as is, fixer upper, pricing, repairs

An update on the lender who got too involved in the property condition -- my hour and a half of talking to the lender paid off. The home inspector explained several items on the report and the lender came back with a much better list of required repairs.

Not only did the list get smaller, the underwriter even explained how the seller could prove the work was actually done. Some the buyer could certify in a letter, some items required receipts for supplies and 2 items had to be done by licensed contractors.

A much better list and, best of all, we go to settlement in two days! It's just a shame that it took three weeks to get the lender to be reasonable in its requirements.

(C) Susan Pruden.

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User Comments

1. re: Update on Heavy Handed Lender

Written by: Cochise

Saturday, March 3, 2007

Great article.

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