U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 06-23-2012, 11:51 AM
 
6 posts, read 12,064 times
Reputation: 11

Advertisements

Location: TX. Looking at buying a new house built by DR Horton. Closing date is 6/25.

To make a long story short, we obtained a 3rd party inspection on 6/1 noting a drainage problem in the backyard. They have had 3 weeks to fix this issue, but their "fix" actually made it worse. They created trenches in our backyard to get the water out onto the street but now the level of our ground is lower than our neighbors. This causes their rain/sprinkler water to run into our yard and causes the water drainage problem to be even worse. On 6/20, I had a structural engineer come out and create a report on this incorrect repair plan. DR Horton is trying to work on this over the weekend and the final walk-thru is on 6/25 a few hours before closing. This seems awfully late to try and remedy what can potentially be a huge problem.

My questions: Can we be sued for failing to show up to closing after the final walk thru? Are we able to get our earnest money ($1000) back since it's their fault for failing to perform the fix adequately?
Quick reply to this message

 
Old 06-23-2012, 12:03 PM
 
Location: Needham, MA
6,324 posts, read 9,036,414 times
Reputation: 5324
I think you're going to get the standard "read your contract" response on this one. The contract governs the transaction and spells out your rights and responsabilities. If you are unsatisfied by reading your contract, consult a real estate attorney (bring your contract to the meeting).

I personally would not just show up at closing and hope for the best based on some answers I got on the internet from some nameless, faceless keyboard jockeys. I would also add that real estate laws and customs vary greatly from location to location.
Quick reply to this message
 
Old 06-23-2012, 12:11 PM
 
Location: NJ
17,579 posts, read 38,320,873 times
Reputation: 16099
If you are seriously considering this you need to talk with an attorney. End of story. Another option would be to push back closing.
Quick reply to this message
 
Old 06-23-2012, 12:13 PM
 
6 posts, read 12,064 times
Reputation: 11
The contract states that they Seller will have 20 days to remedy the default (passed), then if not satisfied, the Seller should have an additional 30 more days to remedy the default. The problem is closing is coming up in a couple days and we refuse to buy a house with such issues.

But thanks, I thought consulting a real estate lawyer would be the best option also. What are usually the fees for a consult?
Quick reply to this message
 
Old 06-23-2012, 02:43 PM
 
Location: The Triad (NC)
26,874 posts, read 57,924,091 times
Reputation: 29302
Quote:
Originally Posted by jasonche23 View Post
I thought consulting a real estate lawyer would be the best option also.
What are usually the fees for...
You're beyond the "consult" phase.

As to their fee?
About as much as retaining them for the whole transaction would have been.
Quick reply to this message
 
Old 06-23-2012, 04:29 PM
 
2,631 posts, read 4,349,159 times
Reputation: 2075
Given the contract language, why aren't you giving them the 30 more days?
Quick reply to this message
 
Old 06-23-2012, 05:59 PM
 
Location: El Dorado Hills, CA
3,670 posts, read 7,980,422 times
Reputation: 3748
If it were me, I would absolutely not close until the problem was fixed.
Quick reply to this message
 
Old 06-23-2012, 06:01 PM
 
6 posts, read 12,064 times
Reputation: 11
We're using their lender, and they're saying if we hold up closing past the end of the month then we would have to pay origination fees to get back the same rate we have been approved for. Not going to do that when it's their fault they have not done the fix adequately.
Quick reply to this message
 
Old 06-23-2012, 06:59 PM
 
Location: DFW - Coppell / Las Colinas
29,949 posts, read 34,553,963 times
Reputation: 35949
Quote:
Originally Posted by jasonche23 View Post
We're using their lender, and they're saying if we hold up closing past the end of the month then we would have to pay origination fees to get back the same rate we have been approved for. Not going to do that when it's their fault they have not done the fix adequately.
Rates have gone down not up. They are giving you the standard high pressure excuse to get you to closing. Don't do it and if needed find a new lender.
Quick reply to this message
 
Old 06-23-2012, 07:08 PM
 
25,347 posts, read 37,499,457 times
Reputation: 13270
I would not close unless it is fixed to your satisfaction OR have an escrow amount set aside with the title company for fixing the issue yourself if it isn't done on time so you can take care of it and have an estimate prepared for the costs ....that way you maybe able to close and avoid additional costs.

JMO.

Years ago I was almost forced to close by a builder and at closing the builder had a notarized letter preapred in which they stated to solve all issues within 30 days after closing....knowing what I know now, I should have demanded for money in escrow and made payable if the repairs were not fixed on time or not at all....

I had to call, write, etc. and than bring up a lawyer since after 60 days they hadn't done a thing, since they had their money. In the end they claimed one thing could not be fixed even though they promised and the other things were only fixed after mentioning a lawyer which to me was very bad service.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:
Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top