Repairs

     All repairs are generally done after a loan approval. Sometimes a seller may agree to doing them early, but don't expect them until you have been completely approved for the loan. The obvious reason is that the sellers may make repairs which are important to you, but the next buyer may have their own list.

     Repairs include lender required repairs which must be done prior to funding of the loan. Lender required repairs take precedence over all repairs since the loan will not be approved unless they are done. 

Although the repairs discussed here are addressed in the contract, repairs that my be needed after you are a homeowner should be a concern to you. Savvy real estate consultants always recommend a residential contract to protect you in the coming year. In fact, the Real Estate Center's Online News has a compelling article on the use of residential service contracts (commonly referred to as Home Warranties). For a free reprint of that informative article emailed to you... cick here.