USDA snag

[hleal]

Hello all, first day here and I'm in need of some advice.

I'm due closing on a house at the end of this month and I have run into a problem, it seems as tho that there is a vacant lot thats included in the deed and the loan I'm working with(USDA direct), doesn't want anything to do with the lot and are only going to pay for the lot with the house. Both combined are about half an acre and yes they are adjourning to each other

I was wondering if anyone had an idea on how to go about this, I was thinking if the appraisal came back for Lot A with the house on it and it matched my purchase offer that was made for Both lots beforehand that I could roll Lot B into the loan and have it "go along for the ride". That way the USDA loan office doesnt think their money is being used for another lot.

[hleal]

Bump, Anyone got anything?

[ShanetheMortgageMan]

Purchase the home with USDA, and buy the vacant lot for $1.

[hleal]

Right. Now wouldn't the purchase price have to be reduced on Lot A so usda doesn't have a problem with it?

thanks for your response

[ShanetheMortgageMan]

Wouldn't have to change the purchase price unless the house doesn't appraise for the purchase price and you can't bring in the difference.  i.e. if it appraises for $95k and you are buying it for $100k then you'd either have to bring in the $5k difference or reduce the price to $95k.

[hleal]

Well my LO said it happens (my situation) more so than not she said it is doable but she wouldn't tell me how to do it. Thanks again I appreciate your input