Bank wont allow me to fix $20 repair to close. Suggestions?

[Scott Braun]

I'm about 10 days away from closing on a property purchased off hubzu. The appraisal came back today and due to safety concerns there are two items that need repairs. Both are very easy fixes: vinyl floor is peeling up and needs to be cut off/ripped up and the crawlspace exterior vent needs put back on.

Obviously these are easy fixes, however the seller (and hubzu) have already stated that they will not allow any repairs. Has anybody ran into a similar situation or have suggestions for resolving this?

The solutions I have so far:

Option one: Calling and talking to the bank myself to explain how quickly this can be resolved and hope they will grant me written permission to make the repairs.

Option two: Make these repairs on my own, then play dumb like I have no idea how it happened. (obviously this is against the contract and should be avoided if possible).

Thanks in advance for the help!

[Mike Cumbie]

Hi @Scott Braun

Telling the bank how easy it is never works. A $20.00 fix to them is an immovable object that will stop all progress. That being said, talk to your mortgage guy about holding your own funds in escrow. For instance if the mortgage is $100,000 and the repairs estimate at $250.00 then you put the extra 250 in escrow and get it back once they verify the repairs are done (Which normally costs another $150 as it is).

Good Luck!