tskeeter
Junior Associate
Joined: Mar 20, 2011 19:37:45 GMT -5
Posts: 6,831
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Post by tskeeter on Oct 30, 2015 23:31:59 GMT -5
Well, we got the inspection repair items and buyer shared full copy of the inspection report. Requests are reasonable. Fix the very slight leak on water main, add pressure relief valve, repair some window glazing, secure down siding board that has pulled away slightly, and level the AC. They did specifically request licensed plumber, licensed HVAC contractor and glass professional do all the repairs and that we submit receipts as proof. DH is handy and could probably do all of it, but since that's not the request, we have to decide how to proceed. After seeing the inspection report, buyer could have asked for a lot more but was reasonable and has asked for some of the larger items. We had similar request after an inspection. Responded that repairs were of the type commonly performed by homeowners,so we would not hire licensed contractors to do the work unless we cinsidered it necessary. Buyer accepted our refusal bring in an army of expensive and time consuming specialists. Buyer's approach was to demand the moon on everything. When faced with possible loss of house,they became reasonable.
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moneymaven
Well-Known Member
Joined: Dec 26, 2010 10:05:04 GMT -5
Posts: 1,864
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Post by moneymaven on Oct 31, 2015 14:23:32 GMT -5
Well, we got the inspection repair items and buyer shared full copy of the inspection report. Requests are reasonable. Fix the very slight leak on water main, add pressure relief valve, repair some window glazing, secure down siding board that has pulled away slightly, and level the AC. They did specifically request licensed plumber, licensed HVAC contractor and glass professional do all the repairs and that we submit receipts as proof. DH is handy and could probably do all of it, but since that's not the request, we have to decide how to proceed. After seeing the inspection report, buyer could have asked for a lot more but was reasonable and has asked for some of the larger items. We had similar request after an inspection. Responded that repairs were of the type commonly performed by homeowners,so we would not hire licensed contractors to do the work unless we cinsidered it necessary. Buyer accepted our refusal bring in an army of expensive and time consuming specialists. Buyer's approach was to demand the moon on everything. When faced with possible loss of house,they became reasonable. Yeah, we pulled out some of that verbiage and just stated the issues will be resolved. We will use a plumber for the water main, and a glass professional for the glazing beads, but DH will do the rest. The buyer agreed to the amended wording.
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AgeOfEnlightenmentSCP
Distinguished Associate
Joined: Dec 21, 2010 11:59:07 GMT -5
Posts: 31,709
Favorite Drink: Sweetwater 420
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Post by AgeOfEnlightenmentSCP on Oct 31, 2015 15:56:11 GMT -5
VA inspections can be nutty. I always make it clear in any contract that as it pertains to VA loan approval:
1. Financing contingency is fine, but $1,000 non-refundable deposit must accompany the offer- you can call it earnest money, but it will NOT not be refunded for lack of VA approval.
2. YOU are going to have to make any repairs or improvements mandated by the VA.
If they walk, they walk.
If I have any other offers, I go with them first.
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moneymaven
Well-Known Member
Joined: Dec 26, 2010 10:05:04 GMT -5
Posts: 1,864
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Post by moneymaven on Nov 3, 2015 20:42:05 GMT -5
Well, got info back on the appraisal today. The appraisal met or exceeded the full asking price and buyers intended financing. Also had no conditions, so now we will complete the repairs as outlined in the inspection resolution and close! We will not be able to move up the closing date due to lender timelines. That's okay though, all is good!
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moneymaven
Well-Known Member
Joined: Dec 26, 2010 10:05:04 GMT -5
Posts: 1,864
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Post by moneymaven on Dec 6, 2015 12:06:52 GMT -5
Just a quick update. We had no issues with the appraisal or further repair requests. We closed on Friday. Buyer was great, and I liked his agent very much.
I am glad we moved forward with him and the deal was quite painless.
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resolution
Junior Associate
Joined: Dec 20, 2010 13:09:56 GMT -5
Posts: 7,240
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Post by resolution on Dec 6, 2015 12:24:52 GMT -5
Congratulations! I am glad everything went smoothly.
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TheOtherMe
Distinguished Associate
Joined: Dec 24, 2010 14:40:52 GMT -5
Posts: 28,030
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Post by TheOtherMe on Dec 6, 2015 16:50:00 GMT -5
Congratulations!
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zibazinski
Community Leader
Joined: Dec 24, 2010 16:12:50 GMT -5
Posts: 47,909
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Post by zibazinski on Dec 7, 2015 7:26:26 GMT -5
Just reminds me more and more no FHA or VA loans in selling my last rental.
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cranberry
Established Member
Joined: Apr 14, 2014 20:26:34 GMT -5
Posts: 336
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Post by cranberry on Dec 8, 2015 0:56:01 GMT -5
Congrats on getting everything squared away!
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