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Hello,
I know there are some other discussions in this forum about relo company, but not very recent.
I am under contract for a house sold by a relo company (I am the buyer), and after inspection, they found major safety issue with the sidings. How flexible is the relo company when it comes to fixing/ give credit for fixing safety issues?
Not sure how siding is a safety issue. It's not a balcony railing or something that actually could "hurt" you.
All you can do is ask. A Relo company's job is to get the house out of their inventory. Many will take a hit on price because they aren't there to make money on the house. It's just an entity of something larger they own.
Thank you FalconheadWest.
The siding is cracked/ broken in more than a few places (over 35% of the house), but it is asbestos siding (we did an inspection specifically on that; it is an old house). I was ok residing the house eventually, but now that it is in such a bad shape and hazardous, I see it as a safety issue, to be dealt with very soon. We did an estimate already and sent it, we'll see if they are willing to negociate (I don't expect them to pay for the entire thing, but at least make an effort...)
During your inspection did you take a sample of the material and send it to a lab to confirm that it's asbestos? You'll likely have more leverage if you know for a fact that it's asbestos vs. if you suspect it is.
Hello,
I know there are some other discussions in this forum about relo company, but not very recent.
I am under contract for a house sold by a relo company (I am the buyer), and after inspection, they found major safety issue with the sidings. How flexible is the relo company when it comes to fixing/ give credit for fixing safety issues?
We purchased our house from a guy that was selling it as part of his relo program. We got a much better deal when his time was up and the company had to let it go at a better price.
I would think they are more motivated than a seller would be.
We purchased our house from a guy that was selling it as part of his relo program. We got a much better deal when his time was up and the company had to let it go at a better price.
I would think they are more motivated than a seller would be.
Sellers will almost always value their home more than anyone else. They're emotionally attached often or sometimes they have a financial situation which should be unrelated that influences what they're willing to sell for.
The relo company on the other hand probably had multiple appraisers in to calculate a buy out number which was probably way lower than what the seller was originally asking and then armed with that information was happy to sell it to you at a more reasonable price.
Thank you all for your thoughts!
So even after we had someone testing the siding in a lab (confirmed asbestos), the relo company gave us a straight no for fixing anything (they didn't even mention fixing or compensating for the electrical issues/ sum pump). So we just walked out of the deal. Feel very frustrated, but that came down to a business decision. For a 497,000$ house, if you have to put an extra 60000 to fix (siding/ concrete on patio/ patio door that is rotten), that is stretching it too much for us....
I am wondering something though, maybe you can help. They said they had 2 appraisals, and I believe them, but is it usually appraisers from the relo, or found by the first sellers (the people who sold the house to the company)? because the appraisal was done in August (my guess), and I am pretty sure the sellers had the house "showed" the right way (freshly painted) but since then, we had some snow storms and bad winds, which didn't help for all the broken/ rotten pieces.
Anyway, our quest continues!
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