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Home Questions Brokers and Agents Buyer asked to do repairs
Buyer asked to do repairs
0 votes
November 7, 2011, in Brokers and Agents

I am a first time buyer and have been asked by my realtor to fix three small problems with a house I have under contract.
(1)Paint trim. (Doesn’t say exterior or interior)
(2)Put in a handrail there are 3 levels and does not specify which set of stairs.
(3)Fix a hole in siding from a woodpecker.
The Sellers are not in state and have a local agent. Everyone involved knows I am capable of making the repairs and can do this in a day or two for about $90 in materials. The problems were pointed out by an appraiser and in her opinion the cost for the repairs would be upwards of $3000. The lists of items are vague at best and if not repaired to the liking of the appraiser on her return visit could mean a 3rd visit and an additional cost, to me, for her return and repairs. I understand that the sellers don’t want to make the repairs and if I do the repairs myself it will expedite matters but, with no guarantee. What do you suggest?

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Answers

0 votes
Benjamin Sovacool    November 17, 2011

Typically a seller will make the repairs or credit the buyer to make them after the closing. I've not heard of painting trim or fixing a woodpecker hole holding up an appraisal and closing. Some mortgages may require the seller to fix the stair railing. If the appraiser said 3K fixes everything, I'd ask the seller for a 3K credit and fix everything after you close.

0 votes
Stephen Davis    December 20, 2011

Normally the Seller makes the repairs. In homes we have sold - if they are FHA or VA the appraiser will call for repairs - which must be done before Close of Escrow - and the appraiser normally charges another $100 to certify that the repairs have been done. Who pays is usually the seller - but that is all part of the neogoiations. If the appraiser called for the repairs - then you usually will not close the loan until the repairs are done. Steve Davis

0 votes
Sheila Morales    January 9, 2012

One point I haven't seen mentioned here is that if the buyer's lender is requiring the repairs to be done prior to closing, they typically require the repairs to be done by a licensed contractor. so be sure to check on that point before you agree to make repairs.




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