Unexpected repairs after FHA appraisal

[Jacob Northfield]

Hi everyone,

I'm under contract and about to close on a duplex. The offer had an inspection contingency, the property was inspected, repairs were made, and the contingency was removed. We then had the house appraised with no issues. At the time I was pre approved for a conventional loan, but due to underwriting issues the bank switched me to an FHA loan. This is fine with me except that a new inspection needed to be done. This inspection came back citing issues with the paint, the garage door, and some problems in the basement, and now I can't close until these repairs are done. We are supposed to close the day after tomorrow. I have a 4k earnest deposit, then the costs of the inspections and appraisals, as well as about $800 remaining for the downpayment, so I don't have too much into the deal cash wise, but I would rather not lose my deposit. I am not in a position where I can make the necessary repairs this month.

My question is, am I responsible for these repairs or can I have the seller make the repairs and push back the closing? Any advice would be appreciated. Thanks in advance.

[Nathan Gesner]

You switched financing, which triggered a new inspection that resulted in necessary repairs. That's your issue, not the Sellers. Make the repairs, get her closed, and consider this an important lesson for the future.