We are often asked what to do when a seller refuses to perform required repairs. This happens when appraisers call out repair items like missing floor coverings when we have a VA purchase requiring a clear Section I, or when a seller is a Bank selling an REO.
Our only choice in these situations is to do the required work ourselves either overtly or covertly. We do not do the work, however, until we have the appraisal done and all loan conditions cleared.
We then have one of our contractors or handymen perform the necessary repairs and get paid outside of escrow. Who will pay for the repairs is sometimes an issue, but we typically pitch in in a variety of ways.
Founder/Broker | JVM Lending
(855) 855-4491 | DRE# 01524255, NMLS# 335646