U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
Please register to participate in our discussions with 1.5 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.
Jump to a detailed profile or search
site with Google Custom Search

Search Forums  (Advanced)
Business Search - 14 Million verified businesses
Search for:  near: 
Reply Start New Thread
 
Old 02-23-2009, 06:40 AM
 
41 posts, read 142,861 times
Reputation: 30
Default What do you think sellers should repair after home inspection report?

So i know every situation is different... But i am in the middle of closing and my home inspection report came in with a list of major problems. The sellers did take my lower offer but my offer was actually comparable to the the two others homes for sale on the same block. It is a 1957 home and i knew there were SOME things to be updated and fixed. In addition, i was planning on remodeling after 6 months- a year of living there and adding a addition. But it seems i can't even live in it till i get a few of the major problems fixed.

Problems:

1) Furnace is not venting to the exterior but actually in the interior of the house. The inspector said this could possibly leak carbon monoxide in the house. It also needs to be replaced
2) roof is gone.Needs to be replaced now
3) water heater is gone as well. corroded. Supposedly also needs to be raised 18 inches off ground
4) House needs to be rewired, not one outlet is grounded and electric panel also needs to replaced
5)attic ducts are damaged and leaking

the list goes on but those are the major problems. It almost seems now i have to go through the entire house and just redo everything . The more annoying part is whatever they supposedly upgraded is worthless. New windows- 3 are broken. Kitchen- oven doesn't work, new outlets don't work. Bathroom-bathtub not properly sealed. New light fixtures- they didn't even bother to rewire them to the light switches. Those are little things to be fixed but it seems if they upgraded them shouldn't they be in working order?

I already plan beforehand to do electrical. What do you think would be fair to negotiate for the seller to pay for? Anyone have situations like these? did the seller pay?

* sorry so detailed and long but i was hoping for any feedback as I have only a week to negotiate with sellers! Thanks!
Reply With Quote Quick reply to this message

 
Old 02-23-2009, 07:06 AM
 
353 posts, read 608,834 times
Reputation: 203
A home inspection is done for two reasons....

1. Find material defects or dangers in a house: Furnace, roof, hot water heater, etc...
2. Teach the buyer about potential repairs and maintenance (windows or showers that need sealing/caulking, driveway may need replacement a few years from now, etc...)

A functioning furnace that is inefficient, or a refrigerator that functions but is 10 years old is not the seller's responsibility... unsafe items or broken items (the dishwasher has not worked in 5 years) are the responsibility of the seller. The key words are "working condition," not working at top efficiency.


FURNACE/HOT WATER HEATER
The homeowner may say that the furnace and hot water heater are in working order if you turn up the thermostat and the heat goes on, and he is correct... HOWEVER...

Dangerous venting that may cause carbon monoxide seepage is LIFE AND DEATH... this is the seller's responsibility.

ROOF:
Assuming you're getting a mortgage, the lender will not lend you a dime unless the structure is free of leaks. Even in the best economy, the bank does not want to be stuck with a house that leaks if the house goes into foreclosure. This is a MUST

ELECTRIC:
Again, no loan if the house is a fire hazard. Now that this is in writing, the seller will have to fix this or give a credit.

As a Realtor, I tell my sellers that certain repairs must be made. Even if you walk, the next buyer will find the same issues and the seller will be back in the same position.

Given the quality of the work that's been done to this point, I would go for a credit instead of asking the seller to solve the problems.

If you are not emotionally attached to this house... or unless this is a steal you should approach these as non-negotiable. Either get the credit or walk away.
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 07:29 AM
 
Location: Barrington
18,094 posts, read 13,023,458 times
Reputation: 5860
Just curious......are agents finding that lenders are requiring a copy of the home inspection on conventional financing?
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 07:33 AM
 
3,285 posts, read 7,049,292 times
Reputation: 1325
Quote:
Originally Posted by middle-aged mom View Post
Just curious......are agents finding that lenders are requiring a copy of the home inspection on conventional financing?
I have never recieved a copy of the inspection on a deal.
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 08:00 AM
 
2,199 posts, read 4,877,725 times
Reputation: 1640
Yet another problem-- underwater sellers are not going to have the money to make expensive repairs. People in financial trouble let houses go and exacerbate their problems. Hopefully, this isn't the case here.

Most sellers would have cleaned some of this stuff up before listing their home. It's going to have to come out of someone's pocket, so if you still want this house, I would try to get a credit from the seller's proceeds (provided there are any) and have your realtor find people s/he trusts to take care of it. The last thing you want is the seller cutting corners to save money. Or you could reserve the right to have a reinspect, if the seller agrees to make repairs. If I were emotionally attached, I'd try and get unattached right away. Good luck!
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 08:21 AM
Status: "Keep some sunshine on your face!" (set 19 days ago)
 
Location: Mountain Ranch, CA The heart of Calaveras County
6,000 posts, read 10,820,413 times
Reputation: 4664
I've never been a fan of seeing the home inspection change the transaction. I think a lot of those HGTV programs show situations where the buyer ends up re leveraging the deal by asking the seller to fix all sorts of things. The original negotiated price should have reflected at least some due diligence on the part of the buyer, or if something comes up the buyer should walk away and find something less maintenance intensive. I remember seeing something on one of these shows where the buyer wanted 50K to replace the single pane windows in a home with newer glazing. I would have wanted to throw the buyer through the single pane window and offered to replace the broken one. Why yes, I have formed an opinion.

You buy a 30 year old house, you're not going to get everything brand new. If you want everything brand new, go buy a brand new home.
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 09:31 AM
 
353 posts, read 608,834 times
Reputation: 203
I'm with you DMenscha...

A buyer walking through a house sees a rusted furnace or old refrigerator and should take this into account when making the offer... you don't need a home inspector to tell you a frig is old.

This would be like buying a used car and asking for new tires... the tires are inflated and the car runs. You don't have to be a mechanic to see that the tires are bald, so make the offer on the car based on the fact that you need new tires soon. Don't make the deal and then ask for money off later. If you don't want a car with bald tires then don't buy that car. SIMPLE.
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 10:28 AM
 
Location: Salem, OR
10,762 posts, read 17,551,649 times
Reputation: 6614
Your agent should have been able to see that the roof was at the end of it's life, and warned you about that.

I can tell you out here in homes of that area, that furnaces venting into the attic space is very common. I have asked many a seller to get it vented properly.

Out here hot water heaters only need to be 18" off the ground if they are not the explosion proof kind. Our codes require the explosion proof kind so it is a mute point for new water heaters. Out here it is $750 for a new 55 gallon gas furnace installed. I also put in a new furnace last year and it was $3500 for a 97% efficiency furnace with some new duct work and venting to be done. High efficiency furnaces need a larger vent pipe.

I just did my panel box for $1,000 out here about two months ago. As for rewiring...they used two prong and not three prong outlets like we do today. I am not clear why you weren't talking with your agent about this when you bought the house. This is a common issue in homes of that age.

The house clearly has some issues that need to be addressed, but you don't sound like you were prepared for the issues with homes of that era. I think you need to decide if you want to tackle those kinds of issues or not.

Also...it is rare for a mortgage broker to ask for a copy of the home inspection report. If they know of the defects they have to share them with the lender so most choose not to ask. If the roof is shot the appraiser will most likely note it on his report and it would cause an underwriting problem.

You need to talk with you agent and have them guide you through what makes sense.
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 10:46 AM
 
3,321 posts, read 2,768,445 times
Reputation: 11125
Quote:
Originally Posted by DMenscha View Post
I've never been a fan of seeing the home inspection change the transaction. I think a lot of those HGTV programs show situations where the buyer ends up re leveraging the deal by asking the seller to fix all sorts of things. The original negotiated price should have reflected at least some due diligence on the part of the buyer, or if something comes up the buyer should walk away and find something less maintenance intensive. I remember seeing something on one of these shows where the buyer wanted 50K to replace the single pane windows in a home with newer glazing. I would have wanted to throw the buyer through the single pane window and offered to replace the broken one. Why yes, I have formed an opinion.

You buy a 30 year old house, you're not going to get everything brand new. If you want everything brand new, go buy a brand new home.
Good perspective and advice
Reply With Quote Quick reply to this message
 
Old 02-23-2009, 10:55 AM
 
3,321 posts, read 2,768,445 times
Reputation: 11125
Quote:
Originally Posted by AndrewMensch View Post
A home inspection is done for two reasons....

1. Find material defects or dangers in a house: Furnace, roof, hot water heater, etc...
2. Teach the buyer about potential repairs and maintenance (windows or showers that need sealing/caulking, driveway may need replacement a few years from now, etc...)

A functioning furnace that is inefficient, or a refrigerator that functions but is 10 years old is not the seller's responsibility... unsafe items or broken items (the dishwasher has not worked in 5 years) are the responsibility of the seller. The key words are "working condition," not working at top efficiency.

As a Realtor, I tell my sellers that certain repairs must be made. Even if you walk, the next buyer will find the same issues and the seller will be back in the same position.
Agreed
Reply With Quote 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.


Reply
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 $79,000 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

All times are GMT -6.

2005-2014, 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 - Top