Freddie Mac Foreclosure - Continued


So just to catch everyone up...

The property was scheduled to close on May 19, 2010.  However, the appraiser noted roof, stove/oven and flooring.

Keep in mind this is a foreclosure as is where is... and on top of it conventional lending.  In the past we didn't see big brother Lender over looking conventional borrowers, but times have changed.

The Seller (our government) was kind enough to get all three satisfied, roof was inspected (passed, based off of the under writers opinion), an oven/stove was purchased and installed and then finally carpet was laid in a secondary bedroom that had concrete only.  Yes the Seller paid for it all, but added the costs to the sales price.

Appraiser re inpsected (for a fee) noted what they saw on their report.  Even called me about the roof.  Appraiser is not allowed to speak to the Lender, which is crazy in itself that is who they work for..  Appraiser saw nothing had been done to the roof and was questioning why?  I explained to the Appraiser the Lender had received some sort of inspection regarding the roof and removed it as a condition.

Under writer accepted all of the additions to the property and we are finally ready to close Friday June 11th. 

My poor Buyer.... what patience he has had to have! 

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Post Category: Foreclosures & Investments, Home Buying, Mortgage & Finance

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