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  #21  
Old 01/05/13, 12:13 PM
 
Join Date: Jan 2004
Location: MN
Posts: 7,610
I see now why the realitor won't do the escrow - oh, we have a friend in the painting business.....

Ha.

--->Paul
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  #22  
Old 01/05/13, 01:19 PM
 
Join Date: Aug 2008
Location: Indiana, USA
Posts: 12,673
Quote:
Originally Posted by checkitnice View Post
Realtor is claiming she has someone who will do all four buildings (one coat only) for $2100. Then she says that this week will be warm enough, which it won't be with only one day hitting 40F. But we have to wait until we get the official appraisal, which probably won't be until Tuesday.

I think she's flipping nuts. Whitewash would be perfect for the large barn, but the smaller ones need paint.
Sounds like the FHA needs them painted, not necessarily painted well.

Will they let you do it? If so, it sound like they just needs a coat of something. I'd go with cheapest oil paint.

I'd worry about doing a good job, when the weather is a bit warmer - after getting the property.

How big are the buildings for $2100?

Last edited by plowjockey; 01/05/13 at 01:22 PM.
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  #23  
Old 01/05/13, 06:33 PM
Callieslamb's Avatar  
Join Date: Feb 2007
Location: SW Michigan
Posts: 16,408
The realtor doesn't get paid until the loan is finalized and you've signed on the lines. Of course, she wants you to hire her friend and paint the barn like FHA say you have to. Talk to a painter that guarantees their work.
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  #24  
Old 01/05/13, 07:40 PM
 
Join Date: Nov 2008
Posts: 5,204
That would be a showstopper for me. It'll be there in the spring, or maybe it won't, but I would walk away from it. Only way would be that the seller pays for it to make the sale and the loan.

geo
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  #25  
Old 01/07/13, 11:17 AM
 
Join Date: Aug 2010
Posts: 165
OP here, we went up north for the weekend and I'm just getting back to this.

I emailed my contact at the bank and he had absolutely no problem with escrowing the money. At all. I didn't go into detail with him, since the appraisal isn't officially in, but he didn't even question it. So I don't know why the realtor was being so nutty about getting it done, unless she really wanted her guy to get paid for it.

(Side note, I figured out who the painter would be. He's a tool - I was in the office doing some paperwork a couple of months ago and he came in. He started to make small talk and I said "oh this is our first home," to which he replied, "You look old enough for it to be your second or third.")
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  #26  
Old 01/09/13, 05:37 PM
 
Join Date: Dec 2012
Location: North St louis county Missouri
Posts: 328
Quote:
Originally Posted by checkitnice View Post
Realtor is claiming she has someone who will do all four buildings (one coat only) for $2100. Then she says that this week will be warm enough, which it won't be with only one day hitting 40F. But we have to wait until we get the official appraisal, which probably won't be until Tuesday.

I think she's flipping nuts. Whitewash would be perfect for the large barn, but the smaller ones need paint.
read the back of any can of paint and it says the lifetime gaurantee, which most paints now come with, says it is invalid unless it has two coats of paint.

You cannot paint unless it is above 40 degrees, unless you by special paint, which costs a lot more.

Be carefull with power washing, sometimes it does more damge than good. A scraping and a sanding is a much better technique, though terrible for your health.
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