The appraisal and required-repair trap
This is the sequence that catches Racine sellers repeatedly. The house needs work, so it appraises modestly. The buyer needs FHA or a similar program to afford it. The appraiser then flags peeling paint, missing handrails, roof life and furnace condition as repairs required before closing.
Now the seller is asked to fund repairs on a house they are selling precisely because they cannot fund repairs. Most of those deals die, the listing goes back on the market looking stale, and the next buyer negotiates harder.
We do not order an appraisal and we do not use a lender. Condition changes our number once, and then the number holds through to closing.
