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Old 03-09-2011, 11:44 PM
 
1 posts, read 1,152 times
Reputation: 10

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seller denied any repairs and we agreed but not so sure now after getting a 20 thousand estimate from the contractor. not lender required but suggested by the inspector.is there a way to negotiate before walk through and closing? agent says we signed 'buying as is' and termination period is over.
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Old 03-10-2011, 01:34 AM
 
Location: Dallas
4,630 posts, read 10,474,475 times
Reputation: 3898
Wow, is this a bot or what? Scary.
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Old 03-10-2011, 06:16 AM
 
Location: DFW
40,952 posts, read 49,176,191 times
Reputation: 55003
Does your word or commitment not mean anything ? When you agree in a contract to do something that pretty much means you've agreed to do or not to do.

IMO, move forward with your commitment or you could be sued for performance and possible damages.
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Old 03-10-2011, 06:23 AM
 
37,315 posts, read 59,854,747 times
Reputation: 25341
again NO REALTOR was at that table...

why come here when you did not ask for advice BEFORE you made the deal or did the looking...
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Old 03-10-2011, 08:57 AM
 
Location: Plano
85 posts, read 158,409 times
Reputation: 71
forget your agent, go consult an attorney.
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Old 03-10-2011, 09:01 AM
 
Location: Simmering in DFW
6,952 posts, read 22,684,678 times
Reputation: 7297
It may be a lot less than 20k to do the work. Before you get hysterical, get another one or 2 contractors to give you some bids. When is closing scheduled for and what kind of repair work does the house need? I buy properties that need rehabbing and you would be amazed at the range of bids I get; you really do need several quotes and sometimes there are many different and quite adequate ways to solve repair issues.
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Old 03-10-2011, 09:32 AM
 
13,194 posts, read 28,292,163 times
Reputation: 13142
Buying a property "AS IS" means just that. YOU make the repairs. Not the seller.

This should not be a surprise. And you should have hired an engineer/ contractor to evaluate the property and cost out repairs BEFORE writing a contract.

Lesson learned, I hope.
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Old 03-10-2011, 06:39 PM
 
Location: TX
3,041 posts, read 11,886,424 times
Reputation: 1397
^ AMEN
was going to "rep" ya but I have to spread the love around!

You said seller said NO to repairs and YOU agreed and signed anyway. should have backed out then or put in a contingency contract based on X ammount of dollars....we've done this before. If the estimate goes beyoned your stated funds then you walk away.

The house is yours. Get at least 4-5 estimates, never go with the first one right off the bat.
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Old 03-10-2011, 08:46 PM
 
13,194 posts, read 28,292,163 times
Reputation: 13142
Quote:
Originally Posted by Rakin View Post
Does your word or commitment not mean anything ? When you agree in a contract to do something that pretty much means you've agreed to do or not to do.
Speaking as someone who has several family members in real estate, NO- most people's "word" means jack crap these days. People just threaten to sue the seller or agent when they decide to change their minds & back out of signed contracts. It's sad.
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Old 03-11-2011, 07:45 PM
 
2,674 posts, read 4,392,947 times
Reputation: 1576
If you haven't closed. Walk away. You'll likely be losing the earnest money, but not buying a potentially bigger problem.
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