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Updated 9 months ago on . Most recent reply

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11
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Robert F.
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11
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Repair contingency- no progress has been reported

Robert F.
Posted

I am under contract to buy

Offer was made with inspection contingency 

Seller agreed to repair or replace furnace a week ago

I asked my realtor to check on the progress of seller and they have no real news for me a week later, other than an HVAC guy was on property- per sellers realtor

My loan is conditionally approved pending appraisal

I told my realtor I’m not ordering the appraisal until I am satisfied with the progress being made to fix/ replace furnac

Is that unreasonable? My realtor seemed a little miffed, but I have 17 days to get the appraisal done before closing and my MLO is confident we can get it done in time

Most Popular Reply

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17,456
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,144
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17,456
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

Repairs will need to be done prior to closing. It's unlikely your appraisal contingency runs that long. You're going to put yourself in the situation where you are the one who defaults on the contract and not the seller.

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