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I'm in the middle of buying a house... We're through the inspection and the findings were all pretty good except for some crawlspace moisture which needed to be taken care of by a drainage contractor.
The lady who owns the house has run sprinklers way too much (about 4x a day lately and there are some right at the foundation!) and with a lot of snow this winter also, it caused some problems that need addressing.
The first contractor we had out is the most respected drainage contractor in the county. While the issues are totally fixable and obviously haven't been going on long term, the fixes are expensive (about $5500).
So after we had that bid, the seller and her realtor decided to get another bid from a company that ended up being somewhat of a flaky outfit that took days to get the bid back and then when it did come back, it wasn't as comprehensive as the last (meaning it missed a whole bunch that even the home inspector said needed to be addressed regarding that area) but the bid was only about $2500. I guess the realtor decided that this company didn't really know what they were doing and so he decided to find another one that knew even less and tried to get a bid from them, too.
This had been going on for a week and a half now and my agent finally got fed up and talked with the other agent and they found another reputable drainage contractor to come out today to look at things and give an estimate. Well this one came back with almost the same bid as the very first one which is pretty much what I expected seeing as the first company is so highly regarded in the area.
Well, now apparently the seller is having a fit at the cost because she thought it would ony be $2500 after that second bid. I guess she was talking about having me split the cost with her or taking it off the market and putting it back on for more $$ or asking me to pay more anyway.
First, if I had the extra money I would try to help because I don't like anyone to have to go through this but in a way it seems sort of unfair seeing as everyone agrees the whole problem was her fault and she has caused all of the issues. Also, I didn't ask for ANY closing costs at all in this deal so I'm kind of irritated that that's not being taken into account. It's not like I got a totally killer deal on the house... I did ok and I think it will end up a nice house, but I'm not whistling around the house the "Sucker song" in other words.
Second, I am putting every extra dime down on the house and keeping out an emergency fund and I do not want to touch that to help pay for this. I can't! I am self-employed and I need that to fall back on just in case... It's the smart thing to do.
I'm very very sorry for this lady having issues but I just don't know how to go about dealing with it. My agent told the other agent that there's not a lot of extra money for me to hand them and she's trying to work it out but I'm just getting a bad feeling about the seller and how she's going to try and call my bluff on this. As far as I know she's already accepted a job somewhere so I'm not sure how serious she can be about trying to sell it again but then who knows...
The sad thing is I really love the house and I do want it, but I also don't want to get pushed around. Also, there's a lot of money that needs to go into it right off the bat because of her lack of upkeep (sprinklers need fixed, gutters need cleaning, yard needs ripping out, fence needs fixed etc).
I'm supposed to hear back from them tomorrow and I'm sure they're going to ask for help so how does that work? If I refuse can she still walk? What if I counter her with less than she asks for and she refuses? Is it all over then?
I'm just so upset... This has been dragged on so long and I have already scheduled my movers and now if this falls apart I will have nowhere to go along with my 3 dogs and a mom who's own house is closing a day before this one is supposed to.
Please help with any suggestions on how to handle this? Am I being unreasonable?
The ball is pretty much in your court as far as who gets to walk away. She can refuse to make the repairs, at which point you could either still buy the house, or walk away. She can offer you $2500, and you can either take it, counter, or walk away.
It sounds like you are trying to be reasonable - but you don't have the funds to make the repairs. I guess you will have to figure out if you can still afford to buy this house with all the repairs that need to be made, or if you should start looking for somewhere else to live. Honestly, if it was me, I wouldn't foot the bill for half the repairs - that seems excessive since as you said, she's caused the problem in the first place. The problem is you're backed into a corner - and that's never a good place to be negotiating from.
It's a tough situation, since you obviously want the house, but I would bet she is bluffing. As you know, it takes a lot of luck to sell a home in today's market. Is she really going to walk away and start all over again when she has a seller in hand? I would doubt it very much. I don't know how expensive a house we're talking about, but $5k in a several hundred thousand dollar deal isn't much. I can see her being suprised and shocked about having to lose another $5k, but she is as stuck as you are. Which one of you is going to blink first?
If she relists the house, she will still be stuck for the repairs, and then has to go through all that is entailed to resell.
It's a tough situation, since you obviously want the house, but I would bet she is bluffing. As you know, it takes a lot of luck to sell a home in today's market. Is she really going to walk away and start all over again when she has a seller in hand? I would doubt it very much. I don't know how expensive a house we're talking about, but $5k in a several hundred thousand dollar deal isn't much. I can see her being suprised and shocked about having to lose another $5k, but she is as stuck as you are. Which one of you is going to blink first?
If she relists the house, she will still be stuck for the repairs, and then has to go through all that is entailed to resell.
I had sellers let me walk over $500 in repairs when I had already given them a $360 break on another repair. I was so fed up dealing with them I said "screw it" and rescinded the contract. Maybe they thought I wouldn't back out.. or maybe they just didn't want to sell the house to me. Either way, I found a house I like much better.. and they wound up relisting for more than what the house appraised for (not that they saw my appraisal).
Anyhow, I agree it's not likely in a tough market.. but it does happen!
If this were me I would request the $5500 be placed into an account at closing in the name of the contractor who gave the bid. That way the contractor gets paid & nobody has to write a check. If the seller refuses I would walk. There are too many houses out there to deal with BS from a seller. I would be putting my energy into looking for a rental. I have pets and I rent, there are rentals out there that will allow your dogs.
If this were me I would request the $5500 be placed into an account at closing in the name of the contractor who gave the bid. That way the contractor gets paid & nobody has to write a check. If the seller refuses I would walk. There are too many houses out there to deal with BS from a seller. I would be putting my energy into looking for a rental. I have pets and I rent, there are rentals out there that will allow your dogs.
This would be my advice as well. It also sounds like the OP doesn't have the money to make a lot of repairs - and frankly, this house sounds like it needs a LOT of repairs! I say "keep looking" if the seller doesn't agree to pay for the repairs. There are too many houses on the market these days to settle for one that sounds like it may just be one headache after another.
Location: Mokelumne Hill, CA & El Pescadero, BCS MX.
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several times over the past couple of years the buyer and seller couldn't come to the same number to make the transaction happen. Both times, we (both real estate agents involved) ate the difference. I hated to do it, I really couldn't afford to do it, but I did it and at least made something out of it. Maybe all 4 of the parties involved could pay for 1/4. $1250 is a lot easier to swallow than $5K
several times over the past couple of years the buyer and seller couldn't come to the same number to make the transaction happen. Both times, we (both real estate agents involved) ate the difference. I hated to do it, I really couldn't afford to do it, but I did it and at least made something out of it. Maybe all 4 of the parties involved could pay for 1/4. $1250 is a lot easier to swallow than $5K
Good luck!
This as nothing to do with repairs but you are a gem. Both our realtor and the buyers realtor dropped their commision a bit so we could sell our home in FL. I think other realtors could learn from you.
several times over the past couple of years the buyer and seller couldn't come to the same number to make the transaction happen. Both times, we (both real estate agents involved) ate the difference. I hated to do it, I really couldn't afford to do it, but I did it and at least made something out of it. Maybe all 4 of the parties involved could pay for 1/4. $1250 is a lot easier to swallow than $5K
Good luck!
That is a good idea, I have had realtors eat a little of the cost just to make a sale, and allowthem to move on to the next sale.
As far as losing a home you really love, after the broken heart is repaired, you will find another one you like better, and will be glad it worked out that way.....
The less you let your emotions get involved, the better you'll feel in the long run. A good realtor will advise this.....
Pound the seller to the ground or walk away.....
Trust me, 10 yrs from now will you remember this, or will anyone care?
ITS A BUSINESS DECISION.
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) and with a lot of snow this winter also, it caused some problems that need addressing.
