HUD Home Financing (Big Bank Underwriters)

[Benjamin K.]

Has anyone ran into trouble with the underwriters for the "big banks" stating that repairs must be done to a HUD property before financing can be approved? (Appraisal stated that certain repairs-such as adding a stove that is missing, sheetrock repair and touchup paint must be done before home reaches appraised value-contract price $85600-appraised value after about $1500 in repairs $97500) Original appraisal came in at $90,000 with no stipulations but somewhere along the way the appraisal was revised with stipulations. HUD homes are sold as is and no repairs can be done before closing. How do I get around this issue? I am using conventional financing (20% down) What's up with the appraisals with stipulations?