Lender squashes credit to buyer

The lender said "No." As mentioned in an earlier blog, we had a termite report done on a short sale transaction which came back with a $6,500 price tag to correct the damaged wood and fumigate the house. We decided to submit an addendum to ask the lender if they would credit the buyer $5,000 at closing to compensate for this unforseen cost. Sounds fair right? Wrong, the lender said , "No." So, now what? I did another check on market value and even with another $10,000 is possible repairs, my client is still looking at purchasing a home for a great price. We will initiate some additional bids on the work and see if we can save some money. . . We had a skilled handyman bid the wood replacement and he came back with a $4,000 bid. That's about $1,000 less than the termite company had bid. The listing agent is also having another termite company come do an inspection to make sure we have some consistency with what the issues are. So, for now, we will proceed and fact find to see exactly what the rest of the condition of the house is in. Tomorrow is the inspection. I will let you know how that goes. Have a great day. Crista :)