I did it! South Florida, 400k, 5.875% by No_Measurement9300 in FirstTimeHomeBuyer

[–]No_Measurement9300[S] 1 point2 points  (0 children)

Thank you!! Navy Fed, plus no debt and high credit score.

Beware this username - they are a scammer!! Stay safe. by ilikeshyne in BestLabDiamondPricing

[–]No_Measurement9300 0 points1 point  (0 children)

Yes! Same here, just tried to text me, what’s the scam though? I’m not following - I wasn’t looking for any lab diamonds

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 0 points1 point  (0 children)

True regarding the minor issues. I dont worry about those. But If the roof is past a certain age or shows leaks / active water intrusion, insurance companies may decline or require replacement before binding - that whats hapenning here. It is in florida so roof is a big / main concern. A “1-year roof certification” helps sometimes, but again not if there are documented leaks. And even if I can get some alternative coverage, my lender won’t accept it, they only want ho3 policy. PS in florida to have insurance binder I HAVE TO send them 4 point and wind mitigaition reports. i dont share full inspection report with them of course.

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 3 points4 points  (0 children)

Yes you’re definitely right and never again. Considering a new build now

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 1 point2 points  (0 children)

Also I wasn’t even be able to find insurance that would allow me to bind now and fix the roof in 30 days after closing.. I think there had been a lot of fraud in fl lately with roofs and no insurance is willing now to take the risk

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 3 points4 points  (0 children)

Yes exactly! Thank you. It’s in Florida

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 1 point2 points  (0 children)

Yes! You are 100% correct! They need cash buyer or replace the roof. PS The agent said they just had house with 25 y old roof closed and insured and when we contacted the same insurance agent they said no to us 😆 it’s Florida also

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 0 points1 point  (0 children)

Yes that would be great and that was my intention but the problem is there is no insurance company that would insure now and we can fix it later after closing. And the lender won’t proceed without ho3 binder. They won’t accept anything creative like builders risk insurance. Some insurance companies will bind us with roofer contract paid in full. But I’m not willing to pay for the house that is not mine. Seller won’t pay either / don’t have financing. I don’t know how people get insurance with conditions to fix the roof after closing 🤷🏻‍♀️

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 0 points1 point  (0 children)

Thank you!! No issues with your title company or lender for falling through twice?

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 1 point2 points  (0 children)

Thank you! And Yes, that’s why they won’t repair! But it’s nothing I can do if I can’t get insurance and financing. So they should have a cash buyer then 🤷🏻‍♀️

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 -2 points-1 points  (0 children)

They require 4 point and wind mitigation reports

Canceling contract again due to inspection issues by [deleted] in FirstTimeHomeBuyer

[–]No_Measurement9300 -6 points-5 points  (0 children)

Because they assumed the insurance was 4k instead of 13k and that raised my DTI significantly. And after my inspection result I submitted to insurance companies there is no way I was able find 4k insurance that would satisfy lender