02/08/2024
Not all deals are cookie cutter. This house was purchased with FHA financing and a full 6% seller credit to buy down rate and cover closing costs for the buyer. The appraisal revealed an undisclosed shed with a roof that was badly damaged. We were able to have the appraiser assign no value to the shed, had it removed by the seller for reinspection, and got the deal closed.
In addition, it was discovered that the town assessment has more than 600sqft of additional living space than what was on the appraisal. The town is including unfinished attic space which could potentially save the buyer money on both taxes and insurance once remedied.