WHAT TO SAY! WHAT NOT TO SAY!
I am swimming in the sea of verbiage!
Can the loan officer pull me out of the treacherous waters?
A recent home inspection uncovered two issues of concern to the buyer, one of which was "mold" on the attic wall behind some old insulation that was sealed up with heavy duty plastic. The inspector felt the way the insulation was installed, it caused moisture behind the insulation and created the goo on the wall.
We all know that in today's real estate market, underwriting has gotten very strict - no more rubber stamping those loans!
Everything is scrutinized with a fine tooth comb and magnifying glass. We have to watch our words carefully.
In preparation of the repair request addendum to the inspection, I had a long conversation with the buyer's loan officer about WORDING. What type of words would be flagged? How could I accurately describe the issue to have it correctly repaired while not having the underwriting reject it? I wanted to project my clients concerns without hitting the reject button and protect my buyer - all at the same time!
I don't like to use the word "mold" unless there has been actual testing and verified that 'it' is mold, I usually use the word 'substance'. In speaking with my buyer's loan officer, he indicated their underwriters would not like either word or any set of words that have to do with anything that might even remotely resemble "mold". So we settled on (with the buyer's consent) remove the old insulation & wash and clean up any debris. In addition, I've had a lengthy conversation with the seller's agent on exactly what the debris means and the seller is willing to get the job done.
Navigating these uncharted waters can be difficult. With the help of the transaction partners, it can be easier.
I am praying for smooth sailing from here on out!
REALTOR®, ABR, CDPE, e-Pro
Women's Council of REALTORS®
Christine Pappas | Ohio Real Estate Agent
Serving the Greater Cleveland Area, Cuyahoga, Geauga & Lake Counties of Northeast Ohio