the dream may not happen

[stroglass]

We thought we had found a home but looks like the deal is dead the home is not insurable due to a dangerous electrical box .The seller do not want to assume the cost of replacement and threaten to take our deposit (so much for friendly) We still hold hope that the seller will change their minds Tom marrow is the last answer
Maybe we were not meant to be Village people:swear:

[Indydealmaker]

We thought we had found a home but looks like the deal is dead the home is not insurable due to a dangerous electrical box .The seller do not want to assume the cost of replacement and threaten to take our deposit (so much for friendly) We still hold hope that the seller will change their minds Tom marrow is the last answer
Maybe we were not meant to be Village people:swear:

You have got the seller by the short hairs. Since he is now aware of this problem which can effect the value of the property, not to mention the safety, he will have to legally disclose this condition to all future buyers or face legal action.

Do you have a realtor involved or are you dealing direct? If you have a real estate agent and he/she can't resolve this issue, then the first thing you need to do as you move forward is to drop the agent.

[old moe]

We thought we had found a home but looks like the deal is dead the home is not insurable due to a dangerous electrical box .The seller do not want to assume the cost of replacement and threaten to take our deposit (so much for friendly) We still hold hope that the seller will change their minds Tom marrow is the last answer
Maybe we were not meant to be Village people:swear:

:oops:HOpefully you had a clause in your contract that let you out of the deal with full refund, if inspection was not to your approval.or seller would not fix problem. :pray:

[DianeM]

:oops:HOpefully you had a clause in your contract that let you out of the deal with full refund, if inspection was not to your approval.or seller would not fix problem. :pray:

Isn't that automatic? I always thought a buyer could pull out of a deal if the inspection was not satisfactory.

[njbchbum]

We thought we had found a home but looks like the deal is dead the home is not insurable due to a dangerous electrical box .The seller do not want to assume the cost of replacement and threaten to take our deposit (so much for friendly) We still hold hope that the seller will change their minds Tom marrow is the last answer
Maybe we were not meant to be Village people:swear:

Don't give up! All this means is that there is a house out there that will make you even happier! Honest!

sending you a private message, too

[DianeM]

Just means it was not mean to be - there will always be another house.

[old moe]

Isn't that automatic? I always thought a buyer could pull out of a deal if the inspection was not satisfactory.

:pray:I do believe that is a contigentcy clause and must be put in contract as a buyers terms. :oops:

[boomerbaby]

I would think if the house did not pass inspection than they would have to give you back your deposit. Do not give up if this is where you want to live. There are plenty of houses out there all this means is THAT house was not meant for you. Good luck.

[LuauLinda]

The dream WILL happen! We did not get the first house we put a contract on because the homeowners insurance was astronomical (older manufactured home). We pulled out and 4 months later closed on a renovated ranch that we really love! We are so happy the first one fell through because we really love our house and our neighbors! Hang in there!

[murray607]

[QUOTE=boomerbaby;778505]I would think if the house did not pass inspection than they would have to give you back your deposit. Do not give up if this is where you want to live. There are plenty of houses out there all this means is THAT house was not meant for you. Good luck.[/QUOTE

Most Real Estate contracts I have seen have the clause "subject to final inspection" in their terms of sale/purchase. Unless the sale is "as is"

[billethkid]

if the electrical panel did in fact not pass inspection it is encumbment upon the seller to make the repair or the deal is invalidated.

I have no doubt the buyer is in the drivers seat on this one....without a doubt. Don't let the sellers bluster phase you....they do not have your money, the real estate people who wrote the deal have it.

Stand your ground!!!!!

btk

[Vinny]

I doubt that you find the most perfect house in TV. Buckle IP and get busy finding an even better one.

[mainlander]

We thought we had found a home but looks like the deal is dead the home is not insurable due to a dangerous electrical box .The seller do not want to assume the cost of replacement and threaten to take our deposit (so much for friendly) We still hold hope that the seller will change their minds Tom marrow is the last answer
Maybe we were not meant to be Village people:swear:

Stroglass, Do not get discouraged... especially when you seem to be doing things right. Realizing a deal is not right before you sit at the closing table is a plus, not a negative. All contracts for real estate must be in writing, therefore going forward make all your concerns known in "pre-closing conditions" .. if something does not meet with your satisfaction upon inspection make sure you have the right to consider the deal DEAD.. and all deposits returned to you. The "presumed" dangerous electrical box is now considered to be "known defect" which makes the home unsalable (unless an 'as is' condition is agreed upon by both parties). Many more fish in the sea,, just keep protecting your deposit. Regards

[gomoho]

Everyone is assuming a standard real estate contract was used and a REALTOR is involved. I think not or the seller wouldn't be having this issue with the deposit and the seller would be advised if he ever wants to sell his house he needs to fix this issue. Anxious to hear the other half of the story.

[shcisamax]

I wouldn't get discouraged. Usually when something doesn't work, it is for the best. When we came back in the country in '99, RE was booming. We lost 17 houses. 17!!!!! One house went on at night and by the morning when I arrived at 9 a.m. it had been sold over the phone to a Russian sight unseen. Now THAT was discouraging. You have a problem with one house. It will work out, There are hundreds of houses. Get to work on getting the deposit back and move forward.

[stroglass]

There are two agents involved ours and theirs this is making me think agent change in the offing

[Portia]

Our first deal fell through too due to a nasty listing agent..from realty excutives.. went to the villages agent and found.. a great home at a better price in a great area .. don't give up ..it just wasn't the house for you.. chin up .. its out there !!!

[oot]

I had my heart set on one house, and when we made the offer the homeowner was not willing to come down on the price even though it needed some repairs. We walked away and ended up with an even better house - for less money - :pepper2: and in the perfect neighborhood! Sometimes things happen for a reason. Hang in there!!!

[billethkid]

there are just too many options to put up with ANYTHING that does not meet your desires.

I am curious what the owner has done to render the electrical panel as Dangerous or not passing inspection.

As you stated there are two real estate reps involved...then we know they know the procedure for failed inspection items. Yes the seller can refuse to repair any item on the list. And no you do not have to complete the transaction with an unacceptable inspection report....your realtor knows this!!

btk

[OBXNana]

We live in PA and have no idea what costs are in FL. In this area there are Federal Pacific boxes that must be replaced prior to selling. In a property 2 years ago the cost was less than $3,000.00 for a 200 AMP line. In a property we recently purchased we will replace the box (220 AMP I think) and the estimate came in at $3,200.00. This is working with a licensed electrician and getting inspections by the municipality. Nothing under the table. Could you get an estimate for replacement through your Agent? You're probably out of town and the Agent probably has electricians they work with all the time. Then you can possibly split the cost with the seller. Now that this item is known, the seller must disclose (in PA this is the law) and they probably want to sell as much as you want to buy.

[l2ridehd]

This is not an expensive repair. Replacing the entire electric panel with a new one is somewhere between $1000 and $1500 including parts and labor. If you love the house, this issue can be resolved. And as stated above, the seller has to disclose this to all future buyers. So hang in there.

[mulligan]

It also might be worth your while to have a licensed electrician look at the box (we're all assuming that it's the main panel), and determine if it is actually dangerous (a very strong word). I had a similar result on an inspection of a home I sold, and simply needed to get a letter from a licensed electrician stating that no hazard was present.

[CraigC]

I don't disagree with the prior posts and advice, but I have one thought that you might want to check out. Try to confirm that the electrical panel actually is defective, and just not the opinion of either an incompetent inspector or one who will profit in some way by replacement of the panel.

If the seller isn't disputing that the panel is defective, but is stating that he won't pay for replacing it, then there is nothing left to check out. However, it's entirely possible that the inspector is wrong, and the seller is correct if there is a dispute. If there is a disagreement over the inspection report, I would get a licensed electrician to confirm the inspector's report.

[Jayhawk]

Since there are 2 agents involved, you may want to contact their broker/manager. They have financial incentive to get this resolved. The agents may not have even told them about the impasse.

:boxing2:

[rubicon]

Watch what you wish for you just may get it. Based on your original posts two concerns come to mind.

First you refer to this transaction as "the dream may not happen" to my view of thinking this is a business transaction and describing in those terms could result in higher expectations than moving here can deliver to you both, perhaps creating buyers remorse.

Secondly, if there is already a known problem with this possible seller whom refuses responsibility what else might be hidden/wrong. the seller's attitude is very telling. Most people refuse to sell their homes unless and until any problems are resolved and of course many states require disclosure on any history of problems.

If I were you the second this seller said "no" I would have moved on. I wish you both the very best.

Personal Best Regards:

[maureenod]

You have an agent so the deposit is held in escrow with YOUR agent, not given to the seller. If it did not pass inspection it is your choice to cancel and get your deposit back. Someone is playing games here. Move on and get another agent. JMO

[2BNTV]

I think you should read the contract you signed, as it should say something about the deal is not consumated. Human nature being what it is, "you'll always have one bad apple giving the rest of us a bad name".

I passed on several houses, until I bought a home. Everything happens for the best. One door closes and another opens up.

Don't give up!!!! I know your feeling slightly down, but there is always another home and this maybe a blessing in disguise. :smiley:

[sailor47]

Something doesn't sound right. Unless the box has been drowned in water it seems it would be an easy fix. Maybe new breakers or at the worst a new main panel which is probably less than $1500.00.

Look for a new agent. Get your deposit back from your previous agent unless you signed an as is contract.

[Bonnevie]

when I sold my house in St. Pete my agent said in Florida the buyer can pretty much back out for no reason thru the inspection. my first sale fell thru because the buyer, who performed his own inspection, came up with a bunch of bogus claims of problems. Since this sounds life threatening then they have to fix it and if they don't they will have to disclose it to any other buyers.

[gomoho]

Call your agent's broker - they are being derelict in their duties.

[McP1605]

Grrrr.... nothing is easy when it comes to house buying (or selling)!!! Keep us posted. Still hoping to see your dream come true one way or another!

[walterray]

Grrrr.... nothing is easy when it comes to house buying (or selling)!!! Keep us posted. Still hoping to see your dream come true one way or another!

Unless you signed a form that legally makes the agent you are working with your "buyers agent" they technically represent the seller in the transaction. Anything you disclose to your agent can and would be communicated back to the seller. Either way you should be able to terminate the offer based on the home inspection not being to your satisfaction. If the seller doesn't want to make the needed repairs then just move on. As was previously stated there are plenty of homes available to make your dream come true.

[stroglass]

Just want thank you all for your support and I am happy to report that the defective box will be replaced by the seller the dream is going to happen we will be in tv on thanksgiving close on the 29th we have to return to NJ for now but hopefully not for long

[Jayhawk]

That's great news! Congrats on working it out.

:pepper2::pepper2::pepper2:

[ilovetv]

Just want thank you all for your support and I am happy to report that the defective box will be replaced by the seller the dream is going to happen we will be in tv on thanksgiving close on the 29th we have to return to NJ for now but hopefully not for long

It sounds okay, but to be on the safe side, I would request a 2nd inspection by a different home inspection service, once the electrical problem is fixed.

An inspection doesn't cost that much and it would be good to have the peace of mind in knowing there's not something else wrong that the (possibly) incompetent 1st inspector missed.

[maureenod]

Any new electrical work must have a permit with the town and the electrical inspector must approve any work. No need to hire an inspector.

[JE Greenwood]

The dream WILL happen! We did not get the first house we put a contract on because the homeowners insurance was astronomical (older manufactured home). We pulled out and 4 months later closed on a renovated ranch that we really love! We are so happy the first one fell through because we really love our house and our neighbors! Hang in there!

It was meant to be!
Its hard to listen to "Everything happens for a reason" while you are in the midst of something but give it time and you will see it all does work out as it is supposed to!

[CFrance]

Just want thank you all for your support and I am happy to report that the defective box will be replaced by the seller the dream is going to happen we will be in tv on thanksgiving close on the 29th we have to return to NJ for now but hopefully not for long

WHOOPEE!!!!!!!!! Now you get to tell us all about the packing/moving-in process. We love a good story!