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Old 08-04-2013, 10:28 AM
 
6 posts, read 8,674 times
Reputation: 10

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We are scheduled to close next week (just waiting on the 'clear to close'). The inspection was done almost 4 weeks ago and our attorney sent over a list of our requested repairs right away ( mostly rotting wood on windows frames, some minor electrical fixes and installation of carbon monoxide detectors of which the house has none)......Radon levels also came back at above 4 pCi/L and they declined to pay for radon mitigation right away. They never responded to the requested repairs until end of last week when we asked for an update and the answer came back that they'll just give us some closing credits. * I am beginning to feel a little annoyed because they know we are already out of our house and living in a hotel waiting to close and the feedback we're getting from our agent is that we should just take what is offered because we are anxious to close. *I know taking closing credits might be a good idea *since we'll be able to make sure everything is done to our satisfaction but at this point we might not have enough time to get our own people in to give estimates of the costs and I do not want to blindly accept whatever amount they are offering.
Do we have to go to closing on the given date even if we are not agreeable to the amount of closing credits they are offering in lieu of the repairs ? *I also feel that we should be able to ask for some credit for the radon mitigation but our agent doesn't think we should ?
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Old 08-05-2013, 04:56 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,623,584 times
Reputation: 8083
What kind of loan are you getting? And how much down? And, is the seller (or lender) already paying any of your closing costs?

The only credit you can get from this point forward is a credit towards closing costs and your loan program and down payment dictate the maximum amount permitted.
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Old 08-05-2013, 06:47 AM
 
Location: Brentwood, Tennessee
39,060 posts, read 37,695,377 times
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Let it go. The repairs you requested are minor. Even the radon results are on the borderline of bare minimum for worry. Radon abatement is not that expensive anyway compared to the cost of living in a hotel and trying to start all over.

Do you really want to lose the house over $40 CO detectors???
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Old 08-05-2013, 08:42 AM
 
6 posts, read 8,674 times
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It's a conventional loan and we're allowed up to 3% of the loan for closing credits.
We're not bothered by the minor stuff like carbon monoxide detectors but what has us really concerned are all the exterior rotting wood trim on all the windows, some of which are extensive and very soft and most definitely will not be a $40 fix. Why should it be considered an 'inconvenience' that we would want an estimate of the costs when they are now offering closing credits for 'necessary repairs' as the sellers have put it.
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Old 08-05-2013, 08:51 AM
 
Location: Austin
7,077 posts, read 16,893,484 times
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As mentioned, the repairs you're asking for are minor. You need to decide if the amount of cost minus the credit they provide is worth you starting over and spending more on inspections on the next house and paying for your hotel room for another 30+ days. To replace wood around a window is fairly inexpensive. You could probably do it yourself as Home Depot or Lowes will cut wood to whatever length you need it. You just need to follow up with a couple of coats of primer and paint.

It's a numbers game and you're going to lose more numbers by not moving forward if you like this house.
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Old 08-05-2013, 09:49 AM
 
6 posts, read 8,674 times
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Thank you for all your replies, I just want to clarify that it was never our intention to walk away from the house because of this. *What caught us by surprise was how resistant our realtor was when we suggested we could get an estimate since no monetary amount has been brought up yet, just seemed like a fair request to us but was deemed 'unreasonable' by our realtor.
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Old 08-05-2013, 10:25 AM
 
248 posts, read 519,347 times
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Quote:
Originally Posted by Jkswkmy View Post
Thank you for all your replies, I just want to clarify that it was never our intention to walk away from the house because of this. *What caught us by surprise was how resistant our realtor was when we suggested we could get an estimate since no monetary amount has been brought up yet, just seemed like a fair request to us but was deemed 'unreasonable' by our realtor.
Speaking from a personal experience that was somewhat similar to yours... recap: I assumed appliances would be incl in the sale, sellers refused, I objected thinking that the added $2-3K in add'l costs was a big whoop, but later realized that I was making a mountain out of a molehill.

At one point it was about the principle that how dare they not incl the appliances when I am making such a large purchase? But after common sense settled in, I saw how I was jeopardizing the purchase of my dream home over a stupid refrigerator.

In the end, just take what you get and look forward to the years of memories you will be making in the new home. Don't let the outcome of the situation demoralize you or leave a bad taste in your mouth about the experience.
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Old 08-05-2013, 01:51 PM
 
Location: Brentwood, Tennessee
39,060 posts, read 37,695,377 times
Reputation: 73696
We once bought a 4,000-sq-ft house that had 12 windows plus a palladian window across the front. 7 out of 12 of the windows had rotted wood.

"Rotted, soft window sills" sounds VERY bad, but our painter fixed them all with a Sawzall, new lumber, caulk, primer and paint for about $500. I'm serious when I say these are ALL minor issues.

You don't need to jeopardize the deal, delay the closing, and wait on contractor to get an estimate that most likely will be well under $1K.
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