Lender Required Repairs

Banks are very adverse to risks and one of the biggest oversights that home buyers misunderstand are lender required repairs. Whether you are obtaining a government-insured or FHA loan, you'll need an FHA appraisal. If you're getting a conventional loan, you can get by with a conventional appraisal. FHA appraisals are stricter on requiring repairs. The financial institution will not lend the borrower the money, unless repairs have been made to the home prior to closing.
The appraisal may require repairs on defects of the home and things that affect your health and safety. The lender learns of these repairs from notes found in appraisals, inspection reports, and insurance companies. Some of the most prevalent lender required repairs in our area are as follows, but not limited to:

Health and safety issues

Some of the most prevalent lender required repairs in our area are as follows, but not limited to:
 
  • Window security bars not accessible to release from inside of the bedroom.
  • Missing smoke detectors in bedrooms, halls, entrance, and living area.
  • The exit doors or exit gates are not a manual latch on the interior side.
  • Broken glass in windows and broken mirrors in closet doors.
  • A bedroom with only one a window that is not operable.
  • Paint peeling and/or discoloration on walls.

Defects of the Home

Some of the most prevalent lender required repairs in our area are as follows, but not limited to:
 
  • Heating system, cooling system, and or water heater non-working.
  • A cracked lid, broken inlets/outlet & leach lines in a septic system.
  • Roof leaks, exposed or rotted wood beams, eaves, or fascia.
  • Moister stains on ceilings, walls, baseboards, and thresholds.
  • Missing kitchen cabinets, counters, sink, and/or appliances.
  • Wood infestation organisms (subterranean termites).
 

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