Repairs before closing?

[CarrieW]

from my agent

Did a Comparative Market Analysis, found 11 properties Can't get it (her attachment pic I cant read)to come in any larger. Median at bottom of list reads 4/2br, 2428 sq ft, list price $229000, sale price $249900, 194 days on market, sale/per sq ft $104.41. The one at 506 Morgan Cemetery Rd is listed for $249,900 and is under contract.

 

[CarrieW]

Still trying to buy this house lol. It has been an experience thats for sure. Tons of things have happened. All very frustrating. After we close and get the immediate bank required repairs made I will post more details.

 

[CarrieW]

Just submitted a bunch of documents to the mtg co. Its do or die time... Fingers crossed. I know it will end up how its supposed to. I just hope I end up with this house! We are going to need approval for another extension. Hopefully we can close soon

 

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[CarrieW]

I'm in need of help interpreting this. #19

what does this mean? We have a escrow repair loan so I am not sure if they mean my final inspection after purchase for repairs or before... I am not allowed to turn the water back on because of the leak... I am freaking out and I can't reach anyone till Monday

 

[CarrieW]

page 1

 

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[CarrieW]

They have like all of the info, I have been getting these people info since march 8th! I am ready to seriously lose my cool with them. The dept of hud people contracted to sell the house said we can't turn the water on. The inspection was done march 25th, they are just asking for this shit now? They also know about the leak. I am on my 3rd extension and this douche is talking about maybe closing June 26th! If we go past that its another 2extensions which are costing me 375 a piece! Omfg I'm so pissed

 

[CarrieW]

All the utilities were off during the appraisal, we found a leak during the inspection and had to cut the power and water and were told they are not fixing it and I was not allowed to put the water back on. I posted pics a few posts back. The contractor was there so he saw what it was when it happened. The only mention of utilities in the appraisal were to deduct the 15k or whatever off the value for unknown status...

 

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[CarrieW]

My rate lock is going to expire too. unbelievable. Idk what to do.
Wth is final WOE?

 

[CarrieW]

Its a 203b loan with escrow. Repairs to be done within 30days. Limit of 5k. 203k is higher repair amount...

 

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[CarrieW]

I got confirmation of the extension today. I have until Monday at noon to forward the funds. I don't know what to do... I can't make them let me turn on the water.

 

[DreamPursuit]

Yep, forgot about that one! I've mainly messed with the 203k.

WOE is weight of evidence. http://ucanalytics.com/blogs/information-value-and-weight-of-evidencebanking-case/

 

[CarrieW]

I thought something to do with the title? I never seen it before. Weight of evidence is better than what I came up with lol. I seriously don't know what to do...

 

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[CarrieW]

She doesn't have any experience with this type of purchase. And shes not privy to my loan info. She doesn't work for the bank I have a call into her but I doubt she knows any more than I do. The loan officer said his processor will handle the conditions. I have submitted like everything on that list. The only question is does this guy need to see the utilities on now or after we do repairs. If it's now I'm screwed and should not send in the money. If it's after I'm mint. We had the appraiser estimate over 14k in repairs. Were getting them done for 4500. I think Thats what they are talking about being corrected. I need to get clarification before I do anything. I can not afford to keep spending $375 every 15days indefinitely.

 

[CarrieW]

Yea in March...

 

[CarrieW]

I just don't understand... If it's subject to repairs after closing why is it in prior to docs? It has a comma in it... Must inspect with utilities, subject to repairs.... I guess I am going to the bank first thing Monday. This may or may not be the end of the road for this transaction.


Finally heard from the realtor. Shes calling the manager and processor and seller. It was so lovely of them to drop this on me at 5:04pm on a Friday. And the douche I'm dealing with is on vacation next week lol.

I have to get everything figured out in less than 3 hours Monday morning. Something I have been trying to do for the last 3 months! I am not holding my breath.

What a nightmare lol ;-)

 

[CarrieW]

Ok everything is still going ;-)
Got all the conditions worked out. Its after closing. Sending off the extension fee and getting updated commitment off to pemco.

 

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[CarrieW]

After spending all day and clarifying everything she sent over the new commitment letter AFTER I overnighted the fee. The water is on there BEFORE still! She told me over the phone (i have it recorded) and my husband and I in her office that it was AFTER. She said underwriting sent her those. I am going to flip out! I texted her back and forth as well as sent her the notification email with datestamps showing her where they were notified about the water, she said shes working on it... Then my frickin realtor sent over the letter to the seller that still needs to be corrected, it has no date for settlement on it and the conditions still aren't right. Thankful I have that email though. I have proof where pemco said if the water was an issue we had to change financing. That was march 23rd.

 

[CarrieW]

Underwriting just signed off! Phew! Hopefully this new new letter is right now holy shitballs. I can't believe these are professionals

 

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[CarrieW]

Almost... Now the next issue. I gave the guy the homeowners paperwork on March 17th. The deductible is 2500. The bank wants 1000. I can't get that at state farm. The other quotes for that deductible are 3x the cost... Which totally skews my dti. Hopefully they let the insurance deductible go or Idk what. Again I feel this should have been addressed in March when I submitted the info

 

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[CarrieW]

No response from the mtg lady on the reqs... I got a request for finance amendment from the seller I need the bank to fill out to process the extension (that technically started on 5/27) So I have to call her. I am so torn. Do I straight up tell her that her boy messed up again (as well as the processor, and the underwriter and herself) all missed the deductible. Or do I not say anything. I have to resend the requote(its been 90 days since original) I am afraid if I don't make it known now it's gonna bite me in the a$$. And if I do I am afraidit's going to kill the deal... Thoughts? I already know what I am doing curious how many others agree

 

[CarrieW]

Omfg lol. Rate lock was not extended apparently as the manager told me. They want me to resign gfe at .25% higher. It never F*cking ends with this place... I literally have no choice. If I don't I won't get the house...

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[CarrieW]

Decisions decisions...

Idk if my sig is visable but my quote says. Brick walls are there for a reason, they let us prove how badly we want things... I try to be persistent. I do not give up easily on anything... This house situation just never ends...

I finally got the gfe and there was a difference in out of pocket costs which made me look closer to all the numbers more carefully. Here there were more origination fees than before. I questioned him. He gave vague responses about asking for credits and adjustments possibly being made.

I found after really reading the forms there were $833.14 in extension fees included in the origination fees... For extensions that this guy filed with his rate lock desk WITHOUT our knowledge or consent.

He apparently filed so many I couldn't get the only one I ever knew about expiring on June 4th That his manager said she had extended past my closing date... (which she never did I found out friday) They both had me file 2 extensions After they both knew my lock was up.

I don't even know what to do. I spoke to the managers manager and a branch manager. Both just about as useful as the first 2... I have a message into the managers managers boss voice mail lol... I'm holding my breath.

I am now in over 3k in fees and inspections and extensions and he wants me to eat another 800 he was trying to bury in the hud hoping I wouldn't notice...

I still would like the house I absolutely refuse to pay those extension fees on the rate lock I did not authorise. I really am extremely pissed about the 3.5% rate the manager lied about extending...

Wwyd?



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[CarrieW]

Spent over an hour on the phone with a higher up who is trying to fix this mess and get me closed.

I have not signed any new locks or extensions... I still refuse until this stuff is correct.

The bank is now at least attempting to rectify the situation and make this right. The person I spoke with tonight seemed to be able to handle it.

I told everyone that if any more extensions are needed they will need to pay for them. I was told it would be taken care of.

I just hope this finally gets fixed and I finally get the house...

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