built a home

[Len]

We are ready to close the deal on a home we built, but the rough grade is terrible. F.H.A. wants money in escrow to rough grade in the spring. The builder says no way! The builder wants us to pay1.5% of the loan per day until we close. What can we do. Who decides what is acceptible, and how can I make the builder comply?

[rmurray]

"The builder wants us to pay1.5% of the loan per day until we close"....WHAT...I doubt this could ever be enforced..

This has all to do with contracts and the wording..If the building contract says you are responsible for site prep..and you did the site prep..you will be responsible...

If the builder is responsible for site prep...he is going to lose...

By the way..it is NOT the FHA that is making this requirement...It is an underwriter at some lender who is looking at the final pictures of the home making a stand to be sure the loan meets his/her idea of FHA requirements..

You seem to agree with the lender...If this home was built on property that you owned..you should get good legal advice from a local attorney....Have him call the builder and get some kind of resolution..Good Luck