Stove requirement

[Mr Rex]

Sue the appraiser for the cost of a stove if he can'r provide documentation that a stove is required.

 

[mark hurlock]

Hello, we just got the appraisal report back via our lender and it has been made "subject to the installation of a functioning stove/range"...this is a conventional loan.

The seller...bank owned...will not allow any repairs prior to close and our lender will not ask the appraiser to alter the condition.

How on earth is it that the lack of a $500 stove can scupper this whole deal? Does anybody have experience of this issue at all or any advise on how to resolve it?

From what I have read by searching this site, the appraiser had no way of checking the 220v supply because of the lack of a stove and so was exposed to a potential lawsuit hence the requirement. With this in mind, surely the seller will experience this issue with any other appraisal and it is therefore in their interest to allow us to put in a functioning stove. Obviously this is a bank we are dealing with so common-sense doesn't always come into it!

Thank you for any suggestions or replies that I may recieve.

Matt

Let us know how this turns out. Thanks.

 

[Norcal Matt]

We are desperate to put in a stove ourselves and get this sorted but the sellers agent seems adamant that we are not allowed to do this.

Our lender is GMAC.

 

[The Warrior Monk]

We are desperate to put in a stove ourselves and get this sorted but the sellers agent seems adamant that we are not allowed to do this.

The sellers agent isn't the person to speak to. This is the type of matter that should be handled through the attorneys of the buyer and seller.

 

[Norcal Matt]

The sellers agent isn't the person to speak to. This is the type of matter that should be handled through the attorneys of the buyer and seller.

Are you saying that we should threaten a legal action? I don't see how we can come up with an answerable case but I'm not exactly an expert here. It's astounding to me that this issue can arise and not be dealt with quite simply.

 

[CANative]

Tell your lender you are going to a new lender that knows what the he11 they're doing. See what happens and how fast it happens.

 

[mark hurlock]

We are desperate to put in a stove ourselves and get this sorted but the sellers agent seems adamant that we are not allowed to do this.

Our lender is GMAC.

This is not professional or legal advice. It is simply what I would do if I were in this situation. Your own opinion may vary.

I would contact my local authority of jurisdiction and ask if a working stove is a requirement for occupancy. You may have online access to your local code. My county does provide it online and I could answer your question right now if you lived in Sussex County Delaware.

If it is not required, then I would have my lender notify the appraiser of this code in writing and request the appraisal be changed to “as is” and simply make note that the subject has no appliances.

If it is required, I would ask my lender to close the loan with escrow for the stove and allow me adequate time to get appliances delivered and installed.

Either way, I do not understand why this would prevent you from buying the property.

Good luck and let us know how it works out.

 

[Sid Holderly]

In many states there are no attorneys involved until making the deed at closing. Many silly things go on with Bank owned property. My daughter put in an offer on a foreclosed property with the financing lined up (approved) and it went to a cash buyer for $7,000 less.

 

[ctapraser]

I would never condition an appraisal on the lack of an item of personal property. Some appraisers lack common sense.

I tend to side with the appraiser on any judgement call, but I must agree with everyone on this one. Appraiser seems to be, as noted above, without common sense! ...

 

[Tim The Enchanter]

I'm with ask the lender do do a hold back, or buy a stove and put it in there.
If one agent doesn't like the idea, maybe the other will.
It seems an extremely silly thing to hold up the deal.

Isn't a fridge equally if not more important? Why not require that?
I mean, you can eat cold sandwiches and stuff, but warm beer? Unacceptable!

Hope it works out OK for ya.