closing house tomorrow

[Rakin]

Originally Posted by nitynity

I checked their website and it expired last week. Acccording to my realtor, it could be that they might be shutting down soon and this is their way to get out of warranty claims. They did charge 3k for installing 11 piers though. Now I need to have smeone else inspect their work and take over the waranty if it's an option. They chose not to reveal this to us until the last minute. We were supoosed to close this morning at 930.

That's the problem with getting cheap foundation work done (or any work). Their "Lifetime Warranty" only lasts until they go out of business which happens all the time.

I don't think you'll get anyone to take over a warranty and be responsible for someone else's work. You might see if they participate in the State Insurance pool. Not sure how that works.

[nitynity]

Update:

Clarified with the foundation repair guys that it was a standard clause and nothing big deal. Just in case the owner trashed the property and didn't maintain properly, the warranty will be void.

[globe9]

Wow, you must really like this house b/c this whole situation sounds like a pain in the butt.

[nitynity]

Originally Posted by globe9

Wow, you must really like this house b/c this whole situation sounds like a pain in the butt.

I know. We been looking since last December, it's been a pain, long commute to work (50+ minutes one way) and so far this is the only one we liked (another offer got rejected) and our apt lease expires this month as well. So either take this or move onto another 1 year lease. Plus we have stuff in storage for $500 monthly rent since May. So $700 extra than what we pay now will buy us a house or just waste money on apt + storage for another year.

The awkward part is the seller like to stay until Sunday to finish cleaning/moving and we agreed. We are planning to go check out the house and with all the drama, threatening to cancel contract etc. going on lately, it will be awkward for both of us to meet face to face and fake it.

Any tips? lol

[nitynity]

Originally Posted by jennifw

How long are the current owners staying in the house? I don't know that I have heard of signing a lease for just a few days. In the past, we might have closed on a Friday and had to vacate by Sunday evening with no extra agreement.

Good luck with everything.

In an ideal world, it shouldn't be a problem. What if someone trips and falls, it's legally my house after closing and they could sue me.

[aexchange]

Originally Posted by nitynity

In an ideal world, it shouldn't be a problem. What if someone trips and falls, it's legally my house after closing and they could sue me.

You are way overthinking this. Lease backs are common and routine and nothing to be worried about.

[GCastillo]

Originally Posted by nitynity

Ok. My Realtor is a tricky guy, he makes up stories to get things done. He has done it before to favor us couple of times, so I wouldn't be surprised if he does the same to us. This morning the assistant said they forgot the record in the box while packing, now the Realtor said they were in between moves that they missed the email. I don't have a f***** clue what that means. Definitely they are playing games for sure and not revealing the exact story.

But I did receive the Engineer re-inspection report just now and it states everything is fixed. Now waiting on the warranty on the work performed. They said it need not be transferred to new owner since it's for the property and not on the owner. Is that true? Now I don't want to trust on any of these guys anymore.

I didn't even think about the 'report getting packed accidentally story' until you guys brought it up. WTF...

You guys are awesome. Thanks guys.

Foundation Warranty must be transferred to the new owner in order for the property to be covered. There is usually a small fee for this. It should state in the warranty paperwork how much the cost is. Also, you should make sure you have a leak test done after any foundation work has been performed. Reputable Foundation Companies offer this service to make sure no plumbing pipes were broken during the repair. Remember a warranty is only as good as the paper it is written on. I would research the Foundation Co especially since you have concerns now.
As far as the keys are concerned, your seller's temporary lease states you are receive a set of keys at closing. It is a common courtesy for Realtors to arrange the delivery of other keys and garage door openers between the seller and buyer. Typically the seller will leave all other keys and openers in the property when they vacate. You will have the 1 set you received at closing. Having the property rekeyed after closing is a wise decision.