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I've read that buyers have gotten sued for trying to get out of deals, we can't afford anything like that.. Between what's happened recently and how all of this has gone down, we feel the only thing that is going to make us want the house now, is if the seller comes down on the price significantly. There's a lot of work that needs to be done in this home-(renovations, electrical for sure).. And if the work the sellers have done is any indication of how they'll "FIX" the copper/plumbing, then it's going to be another sh*tty job.
The house was bought at foreclosure for 54k,, and all they did was slap fresh paint and put a new roof on. But they did a terrible job.. Oh boy, what a bummer..
So Seller's Realtor (SR) was notified and he was unmoved by the thievery that took place at the property. Seemed only interested to move forward even while I told him we're not comfortable knowing the house was broken into-my wife is really freaked out by it and not even sure she want's to move forward now.. SR said the seller would fix it and never minded everything else I said.
I did notice there was a molding strip on door jam that wasn't there before-as if to prevent prying the door,,,,,,that was NOT there before and I asked SR if the house was broken into and if they knew about it and he skipped right over it saying the seller would fix all that.... I'm thinking they already knew about the copper going missing..!
I forgot to tell him of other damages I found in the house; the basement has this strange hump in the middle of the basement and we asked if that could be repaired and the sellers said no. But the moron thieves used an ax or something to try to bust through it-maybe they thought it was a buried treasure? (smh) But now there's a hole there, and "dents" from what ever tool they were trying to use to bust through it.
We also found out two days ago that our Realtor hasn't given any of our messages to him (SR) in almost two months! This doesn't seem right.. I think this is some game their playing in hopes to ignore any of our ideas so that they can continue to have control over the deal.
With all this going on, don't we have a way out now without losing our earnest money and being sued? Before we were trying to use FHA and that fell through, which was absurd, we're making good money now but because it's a new business, they're averaging the last few years and not going by what we've been making the last year+.. So we went to a Federal Union Bank but they're only offering us 80% and the SR is telling us that he's trying to get the seller to give us the extra we need??? I still am not understanding that and am completely uncomfortable with that idea. That aside, all these things, do we have a way out?
I want to just say that we love the house..! It's a corner lot, beautiful but, it's beginning to seem like it's not meant to be and our gut is telling us to run but, we're not sure what we can or cannot do.. We enjoy reading your feedback, and look forward to your replies-if any. But thank you for your time! We really appreciate it..
Do. Not. Buy. This. House. I hope you have photos of the damage? You need to consult an attorney if you have put significant earnest money into this (>$5000). If it's a smaller amount, you could try small claims court, or just eat the loss . And it sounds like you need another real estate agent -- you may possibly have a claim against the agency.
Read your contract. I'll bet you have a clause in there allowing you to walk away if you can't get financing. From this thread and your other threads, that appears to be the case.
And I assume the contract has an inspection contingency? No doubt this house will not come up clean on an inspection. Another way out for you.
And get a new Realtor - after you take a first time home buyer's class!
Hawk/Nodpete... That's why we're asking-is this a way out??
We have no idea. We have not seen the contract. We are not real estate lawyers in your town.
1. Take a deep breath.
2. Ask your buyers' agent, in documented writing, what you have to do to cancel at no penalty (meaning you get all your money returned quickly) to you.
3. If you like the answer, then proceed with cancellation.
If you don't, then hire a lawyer ASAP.
Wouldn't this be the case where the house is materially different from when the offer was made? Then negotiations could begin again based on the repairs. Something like "I want the house the way it was prior, including that hole in the basement floor fixed, No? Then it's a different house than what I put in contract on." If your agent isn't backing you, get an attorney who will, but be mindful of the costs to an attorney not exceeding the return on the earnest $$ laid down.
I've read that buyers have gotten sued for trying to get out of deals, we can't afford anything like that.. Between what's happened recently and how all of this has gone down, we feel the only thing that is going to make us want the house now, is if the seller comes down on the price significantly. There's a lot of work that needs to be done in this home-(renovations, electrical for sure).. And if the work the sellers have done is any indication of how they'll "FIX" the copper/plumbing, then it's going to be another sh*tty job.
The house was bought at foreclosure for 54k,, and all they did was slap fresh paint and put a new roof on. But they did a terrible job.. Oh boy, what a bummer..
You cannot get sued for backing out of a house, before it has legally closed because someone has come in and vandalized it and the current owner whoever that is will not bring the house back to it's original state as when you first agreed to buy it. You do not own this house!
If someone came along before you closed on a house and it became legally yours and bulldozed the house into the ground, would you be responsible? The house is not in the original condition as it was when you agreed to buy it and you don't own it yet.
You're under contract to buy the house in the condition it was in when you made your offer. If they can't return the house to that condition--or if you can't agree to an amount that would be satisfactory to offset that change in condition--you are (almost always) not obligated to buy the house. Re-read your contract and decide what you want to do. I would not confide in your agent except if it's to say that you want the house returned to its previous condition. If you're looking to back out of the deal, I would suggest that you have a consultation with a real estate attorney to make sure you are doing things properly.
The SELLER's Realtor told you that YOU should be checking on the safety of the house? I can't imagine why. The house still belongs to the current owners if you haven't closed yet. It wasn't your responsibility to do safety checks and why you would have agreed to that baffles me. You put yourself in a compromising position accepting the keys to a house you don't own. Now they can plausibly blame this on you, since you had access. Call the police. Do not accept any blame. In fact, if it were me, I'd be backing out of the purchase. Something's not on the up-and-up with this seller/Realtor.
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. And it sounds like you need another real estate agent -- you may possibly have a claim against the agency.
Proceed
