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Is it normal for a lender to require chimney repairs after the appraisal?

We accepted an offer below asking because the buyers waived inspections, but now the lender is requiring us to rebuild part of the chimney after the appraiser flagged some peeling paint. Has anyone dealt with a lender adding this kind of repair requirement this late in the process, and is it something we can push back on?

5 Answers

What should I negotiate before granting a permanent utility easement?

A utility company wants a permanent 20 foot wide easement across the front of my property for new lines, and before I sign anything I want to know what I should actually be asking for or negotiating, like compensation, restoration terms, or limits on future digging, instead of just agreeing or flatly refusing.

9 Answers

Can my closing get pushed back because of termite repairs?

So were under contract on a 4 unit place that's been sitting for a year, and the termite inspection came back bad. The seller has to fix it before we close since its a VA loan, but the repair guys cant finish in time. Is there a normal amount of time lenders will wait for stuff like this?

6 Answers

What does Non-QM underwriting actually focus on for self-employed borrowers?

Im self employed and going Non-QM for a new build. What do underwriters usually focus on, bank deposits or the income on paper, and how much does credit score actually move the rate?

11 Answers

my hoa hit us with a $4000 special assessment out of nowhere and half the neighbors said they never even voted on it, is

my hoa hit us with a $4000 special assessment out of nowhere and half the neighbors said they never even voted on it, is that even allowed or can we fight it

4 Answers

Ready to buy house but condos aren’t selling.

I’m a condo owner with equity, I have intended to go towards a large down payment. Condos in my building aren’t selling, which is a new phenomenon in my particular neighborhood and building in Atlanta Ga. There is a waitlist to rent, which I’m on, but that could take a year or more. I found a house, I’ve found several, but recently found the dream house for a dream price. I will be able to make more money with a house and yard due to my home based pet care business. I’m losing business while in the condo bc I don’t have the space I need to lower rates for my services and inflation is killing all of us. How do I make this happen?

6 Answers

How do I get hud agent so try buy hud house

Want buy house from Hud Homes USA

4 Answers

Post temp off market

We agreed with our KW agent to release us from the listing after more than 90 days on the market, as we are not satisfied with the way our property was handled or marketed.nnWe experienced several concerns, including a lack of transparency regarding offers, limited communication, failure to accommodate requested open houses, and overall poor communication throughout the listing period.nnAlthough we were told that the property would be released, the MLS currently shows the property as “Temporarily Off Market” rather than cancelled or withdrawn. We are concerned that this status may prevent us from moving forward with a different broker.nnI have sent multiple text messages and emails and have also made phone calls, but I have not received a response.nnCould you please advise me on what steps I should take to have the listing properly released and the MLS status corrected so that we can move forward with another broker?nnThank you for your guidance.

8 Answers

Can my S-corp P&L get me approved without filing this year's taxes?

Im a W2 employee but also 70% shareholder in an S-corp that averaged about 90k in profit this year. My total income last year was 112k but we havent filed this years taxes yet. My sister and I want to get pre approved together for a 1.23 million dollar home, shes got about 50k in income but also has a decent car payment eating into that. We have 20% down. Is it actually possible to get approved and funded just using the P&L, or does the lender need us to file this years return first to count any of that s-corp income?

7 Answers

Does switching to 1099 now wreck our chances of buying next year?

Ok so I'm a therapist and I want to go 1099 for a bunch of reasons I dont have time to get into. Were hoping to buy a house next fall, my husband's got a full time trucking job and Ive got a part time W2 gig too, together maybe 50-70k. Everyone keeps telling me lenders need two FULL years of 1099 income before theyll even look at it, which feels insane. So if I switch now does that basically torch our timeline, or is there some workaround nobody's telling me about?

5 Answers