If you are in this situation??

purplese03

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If you are in this situation??

« on: August 07, 2009, 12:04:57 AM »

scene ---- So, i had an offer accepted to purchase a house for 380K + 5K closing costs paid for. After inspection, we found out the house needed a new roof. The agent agreed to refund 5k to us at closing for us to put towards a new roof. She said that she spoke to lender and they said that this is a new world and that they can't have so many credits back (5K towards close and 5K towards roof). So the agent agreed to cut home price down 5K to 375K plus they pay the 5K in closing costs. Thing is we would rather have the 5K in hand so i can put towards a new roof instead of just a lower mortgage. Does this seem fishy at all? Any other ways around this? She said she can't write me a check, that it's against the law??

admin

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Re: If you are in this situation??

« Reply #1 on: August 07, 2009, 12:35:41 PM »

There has been a lot of changes in the mortgage industry recently. If it is disclosed to the lender and they agreed with it then it can be escrowed and held by the title co for the roof repairs. How it works is after the closing, you will get a contractor to work on the roof and submit the invoice to the title co. The title co. will then cut the check straight to the roofer.

It might be the case where you will have to ask your loan officer to change lenders because some lenders are more flexible to this than others. It only make sense because the lender would want a new roof, too, so what's the point of saying now.

lokoutshop

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Lokoutshop : Full Service Locksmith

« Reply #2 on: November 08, 2009, 09:33:48 PM »

Hi,

I know you are right, they can't be do that according to the contract. it's my thinking that they work no many more with you. i am reply after find it that's solution.
for further information :http://www.lokoutshop.com/

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Lokoutshop

siddle33

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Re: If you are in this situation??

« Reply #3 on: December 25, 2010, 10:48:25 PM »

In 2009, I went to join a college annual function, then I lost my cellphone. But I couldn't to take any step. In the situation, What are you doing?

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maggil44

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Re: If you are in this situation??

« Reply #4 on: December 30, 2010, 05:23:30 AM »

I just completed my annual exam. And get some holiday from my University. But I can't think any solution to spend the time. What are you doing in this situation?

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