We were sweating bullets waiting for the appraisal to come in (btw, it took 2 weeks from the date it was ordered). Given the unfortunate state of our Dream Home, we were expecting the worst. And because we’re going FHA, any required repairs noted in the appraisal had to be addressed before our loan would fund. Crap! Luckily, the appraisal report didn’t mention anything about the exposed (live) electrical wires throughout the house, the black mold, the missing rangetop, or the broken air conditioning. Woohoo! But not so fast. It did mention that we would have to replace the water heater, install new stair railings, and fix the two broken windows in the upstairs bedroom. So….who pays for these repairs? Good question.
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