Repairs to Pending Property
 

Need some advice after the inspector got done today. The property we are purchasing had some issues which the inspector identified. On whom does the responsibility fall for the repairs? There are some smaller items, hardly worth noting, but nice to know about, then there are some safety and water issues that might be costly. Any advice is welcomed. Thanks.:bowdown:

This is where your realtor should step in and help you. Good Luck and Welcome!

Kwtoman... under normal circumstances (I say normal, assuming all agreements are written on standard form and all "conditions precedent" (like the inspection) are written to your benefit, then the wording of the "inspection clause" is what you rely on. Again, normally, this clause is loosely referred to as an "escape clause" which permits you to detail your dissatisfaction by documenting the inspection report and it's related deficiencies , requesting your deposit to be returned in full and walking away from the deal. At times , at this juncture, both parties often negotiate, whereby you give the Vendor a certain time to correct the deficiencies to your satisfaction at his cost,, failing this ,, again you request a return of your deposit and walk away. As a word of caution I suggest you engage a lawyer who can advise you in person. Many times it is best to walk away with your deposit, as the repairs may be substandard, additional deficiencies maybe lurking in the background, the deficiencies may be a caution as to the type of maintenance (or lack of, i.e. rental) and be just the tip of the iceburg. Specific deficiencies should be examined by an expert ( e.g. plumber, electrical engineer etc.),, don't always put 100% faith in a "Inspector" of homes. good luck,, there are many fish in the sea,, if you walk on this. Regards.

Whatever you're sale contract says. Most only allow "major" issues to be the seller's responsibility up to some limit. Then they can cancel the contract or you agree to the capped price. Most house inspectors add the BS items to justify their fee regardless of the fact that the charter of the inspection should be as defined in the contract.

Our Realtor told us that, according the the state, or county, law, any problems noted on the inspection had to be repaired by the seller, that they could not be used as a negotiation for a lower price. Didn't sound right then and still doesn't. The contract didn't read that way. Our inspector never heard of that, either. Wasn't a problem for us, since there were only a few minor issues, which the seller fixed....because she thought she had to.

Agree - those items are normally negotiated. Hope you have a REALTOR.

An alternative - again something you, your Realtor and your lawyer should negotiate - if time is critical is to have the seller put enough money in escrow for the repairs and you assume responsibility for getting the repairs done but pay for them out of the escrow account. As someone else pointed out, you could also use the deficiencies to back out of the deal or to negotiate a lower price.

Every home inspector will ALWAYS find something. You could have 10 in a row and do all repairs in between and number 10 will find something. Figure at a minimum 50% of the findings are minimal or just plain not issues. And I would be happy to prove that to any home inspector. However also some of the things they find are real legit and should be resolved.

How they are resolved is the question. If I am a buyer, I want the seller to fix them all to my satisfaction or give me aa fair price for fixing them all. I personally try to identify all the ones I can fix myself in a few hours and get a few hundred off the price. If I am a seller, I want to resolve all the minor ones myself and then place a $ amount on the others and get the buyer to fix them. Also disputing as many as possible.

But is it still something that both buyer and seller have to come to an agreement on that works for both. There are no set rules other then the buyer has the option to walk and get the deposit back. You have to assume it's a home the buyer wants, so it's in everyone's best interest to somehow make it work.

Thank you everyone - I reread the contract, and it does state the repairs are the responsibility of the Seller. We really like this property, so we hope they don't try to negotiate out of repairing the issues. There are only 2 that could be major and one appears to be a 5 minute fix, just the cost of the serviceman as it is electrical. Thanks again for all of the advice. And we have a fantastic realtor, I just feel we have been asking her stupid questions and didn't want to concern
her with this issue. I know, it is "her job", but I still try to show a little smarts, even though we are "Property Virgins".:confused:

Don't assume anything. Just because you have a Realtor that you will be represented fairly. Keep a lawyer involved. I am currently dealing with two different "Realtors" and the buck passing and "not my responsibility is just amazing". Stay tuned...Ask to see an official copy of the bond payoff from the VCCD. Don't take any realtor for their word, it is worthless. Tax records on line are old and may not be accurate as of a certain date. And yes the title companies here can make mistakes too, believe me.

Realtor??
 

If you are dealing with a sales and marketing employee working for the Villages, You are NOT working with a Realtor. These people do not belong to a Board of Realtors and do not share in the education that is provided with that classification.

While I have talked to the villages reps, it wasn't on this property, ours is an outside Realtor. Great Rep, and she hasn't steered us wrong yet. I'm just trying not too look TOO naive when I am asking her questions.

makes no difference
 

I have found that dealing with "Realtors" makes no difference. Get an attorney. I found out the hard way that these "Realtors" cannot be trusted to get it right and even when they admit mistakes, they take NO responsibility. You truly are on you own!

If you are purchasing an asset worth 250,000+/- , and you have no pertinent experience , would it not be prudent to spend a few hundred on Due Diligence with an expert(not a salesperson). Possibly a RE attorney . A mistake could cost so much more and the salesperson would not be likely to bail you out. At least you could sue the attorney for mal practice

Remember they are being paid by the seller. In some cases there is a dual agency situation but in some cases they can expect them to be as reputable as a used car salesperson. My experience and I have moved a lot is that even my little knowledge is more than most real estate people. Unfortunately this really hurts the few out there that are really good. But when it comes to legal issues they are not trained or equipped to deal with things so if it gets sticky get a lawyer. We have in the past gone the route mentioned above using an escrow hold to fix the repairs then we have control over the quality of the work. We get three estimates for major items and have the high amount held in escrow if presented correctly the seller shouldn't have a problem. One house we had the cost of a new roof and replacement of three windows held in escrow quite a lot of money.