Inspection Repairs

Inspection repairs can often times become difficult to accomplish by the closing date due to being able to scheduling issues with contractors. In the case of winter months whereby roofs or outdoor repairs being difficult to even perform during the winter months, you will need to work it out with the Buyers to have those repairs done after the sale closes. 

In the past, it was easiest to just agree upon a credit issued to the Buyer but Lenders frown on this now because in the past the credit was issued (as in the case of a costly roof installation or other major costs) and the work was never performed. For this reason, they will only approve a credit entry on the final settlement sheet for repairs where the Seller has provided the title company an invoice (and not a quote or bid) but an actual invoice in which the title company can deduct the invoice amount, issue a check directly to the contractor and provide that to the Buyer to have the work completed after the sale. 

Some Lenders may approve just a credit for smaller repairs but it would have to be shown on the final settlement sheet for the Lender to see and approve.