Re: My USDA Direct loan experience so far.
07-19-2012 06:55 PM
Both real estate agents started bugging me about finding out appraisal results on the 12th or so.They had me call the USDA office.The UW working my case actually called me back with the appraisal results that same day. House appraised for asking price which is fine with me.
So , inspection is done.The only finding was a broken spring mechanism that holds one window open and it was recommended that the a/c unit be serviced.WDO report says that there's evidence of a past termite infestation in a workshop on the property. Do these types of thing usually have to be dealt with before closing? I was told by the lady that works the front desk at the USDA office that usually those minor things, no.The house only has to be safe and sanitary.
Septic inspection came back fine .Still awaiting the water test results.Those two tests are required if you're not on public water/ waste.
Another thing I haven't seen mentioned around here is, if you pay for inspections and such upfront be sure to turn in your receipts to the USDA so you don't get double charged for those services at closing.(so they told me) I ordered the survey today.
Today , I got an email from the UW she got the ok to obligate our loan on 7/25/12.Our orientation is on 7/26. We need to bring along tha past 3 month's bank statements , current P/L statement, and an insurance quote.
Will update again after that.