Foreclosures
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated over 10 years ago,
FNMA Inspection Period / Repairs
Hey everyone,
Here's my current siutation. Received the FNMA Addendum on the 16th of April, standard 10 day inspection period. The regular purchase contract stated that all utilites would be on to allow for inspection.
Scheduled inspection for April 21. That weekend was told by my buyer's agent that utilities had not been turned on, it would be sometime the following week. Went through that entire week, and nothing. My agent followed up several times and got the run-around. Finally went up the chain with the broker, and come to find out there was a delay in turning water on because it couldn't pass pressure test and they were waiting on repairs.
Finally get the green light on April 30th....14 days after offer accpetanace. Had insepction this morning.
There are some plumbing leaks still but not terribly concerned, but one of the leaks had long-term dripped into furnace and rusted out the unit and soaked the electornics. Inspector believes unit will need replaced.
Anybody have similar issues with FNMA not providing property for inspection during 10 day window? My thought is they violated contract on their end first, are they going to allow me to come back to negotiate reparis/cost reduction on the bad HVAC?
Also, have any of you had any luck with getting FNMA to do major item repairs on an inspection report?