No Grass...No Closing?

Question:

Lizette, this has really been unseasonably cold and snowy this winter and the builder will be unable to complete final grading, sod and seeding the yard at our new construction.

The ground is frozen! Now there seems to be a problem with our FHA loan because of this not being finished at time of closing. What can you do? Steve M.

Answer:

Steve M., The lack of complete grading and landscape can be solved quickly with the appraiser noting in his report that a certain amount of money be put aside in an escrow account to cover the landscape work once weather permits after closing.

They could state that the work is to be complete 60-90 days after closing.

The closing attorney will take care with the disbursement of funds once proof of installation is done.

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