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I need some immediate help on this . I am supposed to close on a house in 17days and I took my folks to look at the house . I had the home inspection done and approved for the mortgage. However, my folks saw that the front stairs and porch to the house are falling apart. The wood needs to be replaced and it can be costly. My dad caught a splinter in his hand when he was walking up
The stairs and I saw the banister that he caught it from. The wood is deteriorating and this is raising a red flag. I am tempted to get out of this contract before the closing answer my earnest money back. Can I still do it and get all my money back even though I am 17 days away and I did get approved for the mortgage and the bank appraised the house? Please help this is important
Read your contract and ask your real estate agent. If you are past the inspection period then probably not, but no one on this thread will be able to answer that question for sure.
And really, you are willing to give up a house that you (apparently or you wouldn't have wanted to buy it) love because of a porch? Get a screw gun and some screws, tighten it up, slap some paint on it to prevent splinters and save up to get a new one built.
And really, you are willing to give up a house that you (apparently or you wouldn't have wanted to buy it) love because of a porch? Get a screw gun and some screws, tighten it up, slap some paint on it to prevent splinters and save up to get a new one built.
And now my folks are on my case to try to get out of the contract of buying the house because of the condition of the stairs and there might be more issues with the house. My home inspector did check the stairs and said that I would be able to get 4 or 5 more years out of the stairs before he recommend replacing them. Thing is that I didn't take my folks for the home inspection so now they arepressursing me to get out of the contract that it will cost me tons of money to restore the house. They unfortunately will not help me financially in fixing the place
I may be wrong but you sound a little frantic. Is this really about the stairs or are you second guessing yourself about buying a home? Is this your first home?
The inspector said you've got 5 yrs or so before you have to replace the steps. In the meantime, save up your money. Along with home ownership comes upkeep and that cost's money no matter what condition a house is in.
To answer your question about getting out of the contract.. for that you'd have to ask your lawyer if you had one. If not, it might pay to bring the contract to one and let him look it over for you.
When was the last time your parents bought a house? Probably many years ago. And even if it wasn't that long ago, were they looking in the price point you're looking in?
Far too often, parents ruin the home buying process for their kids because they don't understand the market appreciation of real estate and they think you should be able to buy a mansion for the price point you're in because they were able to do that umpteen years ago.
Don't let your parents ruin this moment for you. I assume you looked at multiple houses in your price range, and you chose this house to be the best. You need to make the decision. And how expensive do you think stairs really are? You're talking about a couple/few hundred dollars. How could this be a "thousands of dollars" issue? If they weren't sound, that would have been written up as such in your inspection and the appraiser probably would have made note that the repair was needed immediately.
Well, you need to gain some clarity... on this house, on your parents motivations and standards, the real cost of these steps, and on what you want. By chance do you have pictures or a link to this house?
When was the last time your parents bought a house? Probably many years ago. And even if it wasn't that long ago, were they looking in the price point you're looking in?
Far too often, parents ruin the home buying process for their kids because they don't understand the market appreciation of real estate and they think you should be able to buy a mansion for the price point you're in because they were able to do that umpteen years ago.
Don't let your parents ruin this moment for you. I assume you looked at multiple houses in your price range, and you chose this house to be the best. You need to make the decision. And how expensive do you think stairs really are? You're talking about a couple/few hundred dollars. How could this be a "thousands of dollars" issue? If they weren't sound, that would have been written up as such in your inspection and the appraiser probably would have made note that the repair was needed immediately.
Yes, I have found this to be true also. In this case the parents that don't know the market aren't involved at all until its a done deal and the buyer may be facing a loss of hard earned money if they back out. OP, if this was the best thing out there you found for the price after looking a for while, and you back out and lose your earnest money, then what? The question is, would you find something so much better that losing the money would make it worth it or is it better to just do the repair in a few years? It is a question that you have to answer for yourself, because none of us on here know how this has gone for you so far and how this compares to the other houses you looked at.
When was the last time your parents bought a house? Probably many years ago. And even if it wasn't that long ago, were they looking in the price point you're looking in?
Far too often, parents ruin the home buying process for their kids because they don't understand the market appreciation of real estate and they think you should be able to buy a mansion for the price point you're in because they were able to do that umpteen years ago.
Don't let your parents ruin this moment for you. I assume you looked at multiple houses in your price range, and you chose this house to be the best. You need to make the decision. And how expensive do you think stairs really are? You're talking about a couple/few hundred dollars. How could this be a "thousands of dollars" issue? If they weren't sound, that would have been written up as such in your inspection and the appraiser probably would have made note that the repair was needed immediately.
This.
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