Bank is demanding to see Inspection Report??

5 Replies

We are already 1 week past Mortgage Commitment Date and 1 till closing and Bank is requesting to see Inspection Report.  Has anyone had this happen before?  I've never had happen before except for this bank....which i will never work with again.  This is just one of many issues with (Dollar Bank).  Horrible.  

Is the existence of any inspection report referenced in the contract, a contract addenda, or in the appraisal?

Inspection was listed as a contingency on contract. 

The bank saw something from appraisal they wanted fixed and requested it be evaluated by an inspector, I said "ok" already done during inspection so I  had Inspector isolate that part of report and send to me. Then all of a sudden Bank wants to see where inspection report. 

Hi @John Korn ,

Have the real estate agents been doing this for longer than five minutes? Why is the inspection mentioned in the contract? Did you check in with them before sending in a snippit of an inspection?

This has the potential to blow your deal up, unless that inspection report listed virtually no issues. If the bomb drops, and you will know it when you see it if it does drop, your next phone call is to your agent to ask for a referral to a lender that is local to you that can deliver on speed.

@John Korn Underwriters don't like parts of a document. Given that you provided part of the inspection report, now the complete inspection report is part of the loan that the underwriter wants to review.

You should have had the inspector write an "independent" separate report for the items in questions. Besides, the inspector is a general inspector. The issues that the underwriter wants answered might have needed a specialty inspector.

See if you can get a new report done that ONLY talks about the items in question and get over this bump.

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