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Old Yesterday, 12:26 PM
 
8 posts, read 1,027 times
Reputation: 10

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Quote:
Originally Posted by Diana Holbrook View Post
Heh.... what seller would sign an open-ended promise to repair anything the buyer finds in inspection?

I mean really? I'd want to see that.


Usually, buyer, if seller refuses to make the repairs you want and refuses to reduce the price.... your options are to buy it anyway as is, or walk away.
Quote:
Originally Posted by NishiNishi View Post
We signed a contract with the seller that stated " Seller to pay for repair costs for the items discovered via inspection" . This is because seller had not done any inspection and only shared the disclosures. During inspection we discovered water in stagnant crawl space and inoperable sump pump (This wasn't disclosed by seller). We had inspection done from licensed people (termite home roof foundation) and found more $15,000 worth section 1 , section 2 and foundation issue, sump pump repair. Now the seller refuses to pay or fix the issue himself. They claim these are cosmetic changes! We have spent more than $2000 on inspection. Please advice what are my options?
" Yes, Seller signed the contract before the inspection was done. Coz they seemed to fixed all the issue and nothing will come up in inspection report.. After signing the contract it rained heavily in Bay area and standing water was found in crawl space during inspection. (We found inoperable sump pump in the crawl space and nothing about that was disclosed by the seller )"
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Old Yesterday, 12:43 PM
Status: "No saccharine. No treacle." (set 17 days ago)
 
Location: The Triad (NC)
27,787 posts, read 60,048,689 times
Reputation: 30951
Quote:
Originally Posted by NishiNishi View Post
After signing the contract it rained heavily in Bay area and...
Whatever the specifics of the 'deficiencies' are... you're in the deal.

The remaining questions are at the practical level:

#1) is the ~$15,000 involved really all that much more to pay than what you thought?
#2) how long are you willing to wait to be unbound by this contract (funds returned etc)?
#3) do you want the property or not?
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Old Yesterday, 01:05 PM
 
Location: Rochester, WA
4,572 posts, read 2,522,672 times
Reputation: 12748
If you were THAT sure what this very unusual contract language means, you wouldn't be asking here.

Ask your realtor - the one who made the contract... They know better than we do, what your options are.

Last edited by Diana Holbrook; Yesterday at 01:24 PM..
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Old Yesterday, 01:26 PM
 
2,464 posts, read 5,073,645 times
Reputation: 4776
Quote:
Originally Posted by Diana Holbrook View Post
If you were THAT sure what this very unusual contract language means, you wouldn't be asking here.

Ask your realtor who made the contract... They know better than we do, what your options are.
I think there are two possibilities here

1. This is an FSBO with no agents anywhere.

2. There are other parts of the contract not quoted that matter.
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Old Yesterday, 01:33 PM
 
8 posts, read 1,027 times
Reputation: 10
Quote:
Originally Posted by rational1 View Post
I think there are two possibilities here

1. This is an FSBO with no agents anywhere.

2. There are other parts of the contract not quoted that matter.
The contract was made by our real estate agent. The Seller/Seller agent refuses to abide by what they promised. Are they not accountable for what they signed? Even the section 1 repair they are calling it cosmetic changes to the house. We are ok if they reduce the price of the house or fix the issue or pay for the repair. But the seller/seller agent refuses to do any
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Old Yesterday, 02:09 PM
Status: "No saccharine. No treacle." (set 17 days ago)
 
Location: The Triad (NC)
27,787 posts, read 60,048,689 times
Reputation: 30951
Quote:
Originally Posted by NishiNishi View Post
The contract was made by our real estate agent.
And what explanations does that person offer about the situation and resolving it?
What about the BROKER they work with/under?
What about any other RE agent who has seen the actual document?
What about an attorney who has seen the actual document?
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Old Yesterday, 02:31 PM
 
2,464 posts, read 5,073,645 times
Reputation: 4776
IF everything is as OP describes- and there are no other relevant part of the sales contract- then his agent has written a contract very strongly slanted in the buyer's favor AND the seller has stupidly signed it.

IF this is all true- in an effort to write a contract to benefit the buyer- the agent has put the seller in a difficult and maybe untenable situation. He is on the hook for way more than he expected to pay- and he apparently has to spend the money before closing. So apparently he's in denial and doing nothing.

The only way out here may be for buyer and seller to restart the negotiation. To look for a win-win for both parties.

OP is not in a loop. He's at a dead end.
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Old Yesterday, 02:39 PM
 
8 posts, read 1,027 times
Reputation: 10
Quote:
Originally Posted by rational1 View Post
IF everything is as OP describes- and there are no other relevant part of the sales contract- then his agent has written a contract very strongly slanted in the buyer's favor AND the seller has stupidly signed it.

IF this is all true- in an effort to write a contract to benefit the buyer- the agent has put the seller in a difficult and maybe untenable situation. He is on the hook for way more than he expected to pay- and he apparently has to spend the money before closing. So apparently he's in denial and doing nothing.

The only way out here may be for buyer and seller to restart the negotiation. To look for a win-win for both parties.

OP is not in a loop. He's at a dead end.

True its a dead end Don't know which way to go!!
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Old Yesterday, 02:43 PM
 
Location: Salem, OR
13,854 posts, read 32,214,098 times
Reputation: 12450
It costs $15k for a new sump pump? What exactly costs $15k?
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Old Yesterday, 04:08 PM
 
Location: Northern panhandle WV
2,961 posts, read 2,034,795 times
Reputation: 6447
How many years has it been since the Bay area had rains like that?
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