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Rainmaker
140,768
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

Could you find vendors who would be willing to get paid out of proceeds if the seller has wiggle room?

Jan 20, 2016 09:53 AM
Rainmaker
916,818
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

See if seller knows any contractors who can wait to be paid at settlement.

Jan 20, 2016 07:25 PM
Rainmaker
2,538,663
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

Good morning Melvin. It depends on the what they are. The buyer may need to decide if they are willing to take on the issues and what kind of price adjustment is needed.

Jan 20, 2016 05:51 PM
Rainmaker
1,157,791
FN LN
Toronto, ON

Perhaps funds could be borrowed.

Jan 20, 2016 04:12 PM
Rainmaker
401,206
Jill Murty, Realtor - Orange County, CA
Movoto - Laguna Niguel, CA

I had a fixer property listing and an FHA buyer.  We knew the appraiser would call out repairs and the lender would require that they be completed prior to funding the loan.

The seller was not in a position to make the anticipated repairs.  The seller countered that the buyer pay for all FHA required repairs as a condition of acceptance.

The buyer agreed.  He paid for thousands of dollars in repairs prior to close of escrow.  The appraiser returned to check the condition of the property, approved it and the loan was funded. 

Jan 20, 2016 11:08 AM
Rainmaker
1,510,153
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I second what Joan Dickie said.  See if they are willing to be paid by escrow.

Jan 20, 2016 11:05 AM
Ambassador
6,453,054
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Make the buyer pay for them.

Apr 13, 2019 11:50 PM
Rainmaker
979,696
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

Melvin - Like most other members have suggested, the best option would be to have a contractor fix and be paid at closing.

It is pretty risky to have the buyer pay for repairs because the deal may not go through.

Jan 21, 2016 06:26 PM
Rainmaker
7,900,931
Roy Kelley
Retired - Gaithersburg, MD

Use a contractor who will agree to payment at settlement.

Jan 21, 2016 12:59 AM
Rainmaker
3,071,860
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Coldwell Banker Realty

What Jill Murty, Realtor - Orange County, CA and Tammy Lankford said...

Jan 20, 2016 11:41 PM
Rainer
182,965
Harjeet Bhatti
FITH THIRD BANK - Chicago, IL
Home Mortgage Consultant 25 States

When we all know before we sign purchase contract the repairs will be issue for this transaction, always go for 203k or Homestyle products.  The transaction will close smoothly.  I don’t see any reason to not close on any home for primary resident.  

Jan 20, 2016 10:50 PM
Rainmaker
5,134,048
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I don't understand... what appraisal conditions for repairs? Or are you talking about inspection issues? Lower the selling price for the buyer to incorporate the repairs. Otherwise find contractors who can be paid from proceeds at closing (assuming there are proceeds).

Jan 20, 2016 08:28 PM
Ambassador
3,174,424
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I've had buyer paid repairs happen prior to closing before.

Jan 20, 2016 12:27 PM
Rainmaker
2,443,255
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Could it be a home owners insurance claim?

Would the buyer contribute or fix?

Can you contribute or fix?

Jan 20, 2016 10:51 AM
Rainer
80,653
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

I agree with Joan Dickie.

Jan 20, 2016 10:05 AM