Sometimes you buy a home that requires the seller to fix a few items prior to closing and due to the weather or timing of the contractors these repairs cannot be made before closing. Depending on the types of repairs the home lender may have the seller put money into an escrow account or not require any escrow. If you would like an information sheet on this subject just comment below and I’ll send one to you!
Related Article Title: Maximum Dollar Amount for Deferred Maintenance Repairs Question: Is there a maximum allowable dollar amount that Fannie Mae will allow to be held for deferred maintenance items? The seller is unwilling to make these repairs prior to closing. – MTP™ Escrow Repairs & Completion Answer: Neither agency limits you for an existing […]