"NO" on 1004D. Is re-inspection mandatory?

[TJSum]

it's the lenders decision as what to do. we have cold weather for months, lender knows you can't finish some outside ground work until it gets warm again. they escrow for the work, which you should obviously want them to do, so the contractor does come back to finish the work.

Yes.

 

[form1025]

Title companys typically require 150% of the estimated cost to be held in escrow until the unfinished work is completed. The 1004D can be completed months after closing based on the lenders discretion.

 

[Dublin ohio]

I have done dozens of 1004d with landscaping incomplete, driveways incomplete due to the weather conditions. Not doing landscaping or asphalt drives in the winter. around here. Concrete is problematic when it is very cold. Always mark no and list incomplete items. Lender typically closes and holds money in escrow until done. They don't want to hold up borrower closing and occupancy for 3-4 months.

 

[glenn walker]

Hi,

I am buying a new construction and a final inspection was done today. The appraiser completed the Certification of Completion section on 1004D and selected the NO option for "HAVE THE IMPROVEMENTS BEEN COMPLETED IN ACCORDANCE WITH THE REQUIREMENTS AND CONDITIONS STATED IN THE ORIGINAL APPRAISAL REPORT" with a comment stating "At the time of inspection, the improvements
have been completed in a workmanlike manner and with quality materials and in accordance with the requirements and conditions stated in the original appraisal report with exception of the landscaping."

The only thing pending in the house is the sod because of rain and i have confirmed that sod is not a local requirement.

Does the selection of NO prevent lender from closing? Will this require a reinspection and an updated Certification of Completion with YES selected?

My lender is insisting that a re-inspection will be required. Please advice.

Lender is correct but sod is not an improvement I would not have said no -Its an agreement between teh seller and buyer. What if it rained for a month ? You going to hold it up ?

 

[shrubberyvaluation]

Lender is correct but sod is not an improvement I would not have said no -Its an agreement between teh seller and buyer. What if it rained for a month ? You going to hold it up ?

I don't hold up anything, I just report.