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Appraiser or underwriter requiring repairs on HUD home for conventional mortgage?

Purchase price a few thousand dollars below appraised value. Repairs are a few thousand dollars. I don't know if its the appraiser or mortgage originator or underwriter who is requiring it but one of them says I have to make repairs, checked by licensed contractor before loan is approved. HUD won't make repairs so I did. And then had to pay for appraiser's re-inspection and then because of the delay, had to pay HUD for extension of closing date. Something seems messed up in this process.
My agent who has been wonderful has gone out of her way to try and resolve the issues but lender and appraiser are not responsive.
  • June 15 2013 - Waterford
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Answers (3)

Depends on the "repairs" that you mention. If they are structural in nature, vs. cosmetic, then the lender will require them to be performed prior to the closing, regardless of who is selling the home.
  • August 17 2013
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Hi,

Call the lender and ask for a supervisor. You need to ask him/her what the current status of the loan is.

Thanks,

Mark
  • June 24 2013
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You have a copy of the appraisal, correct? The re-inspection has taken place and reported back to your lender? When you say not responsive, do you mean that you can't reach your lender to see if the repairs have been "cleared" by the underwriter?
  • June 15 2013
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