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Old 03-07-2011, 09:07 PM
 
Location: Long Island
9,923 posts, read 23,064,923 times
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Quote:
Originally Posted by godson1 View Post
to ELKE MARIOTTI, Thanx for ur reply, yes i did sign the contract plus sent the earnest money. im hearing different stories from the seller"s agent ,the lawyer, everybody is telling me a different story..
Very sorry to hear that. Somebody is dragging their heels and I wonder ...
Did your attorney get in touch with the seller's attorney? And I don't mean by leaving a message, but actually talking with the attorney? After all, there is actual $$$ involved here now in the form of your check. Could the sellers be away or sick? Or is the attorney away or sick? Not saying that's a "good" excuse/reason, only theorizing...

Worst case scenario could be that another, better, offer has been made, possibly even a buyer from the listing agent, and the sellers don't want to sign your contract until they know if they can get this possible other offer... Just trying to come up with a "reasonable" explanation

In the meantime, stay on top of your attorney and your agent (or is the listing agent also your agent?)

Until both parties have signed, it's not a deal yet
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Old 03-08-2011, 07:05 PM
 
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@ ELKE MARIOTTI, thanx for ur reply, very helpful i appreciate it.
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Old 03-02-2015, 06:09 AM
 
10 posts, read 52,947 times
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Hi,

Thanks for the original reply and posts. I find them useful as I am trying to buy a house. We just found out that a 35 by 17 feet deck does not have CO. The house listing or agent never mentioned this "little" detail. The seller is saying that he is only willing to put $1000 maximum towards regularized the deck. This offer sounds ridiculous to me and just like a person above said maybe the seller is fishing for a buyer who does not know better or is willing to buy without CO.
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Old 03-02-2015, 06:35 AM
 
4,538 posts, read 6,419,982 times
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Quote:
Originally Posted by Depeche101 View Post
Hi,

Thanks for the original reply and posts. I find them useful as I am trying to buy a house. We just found out that a 35 by 17 feet deck does not have CO. The house listing or agent never mentioned this "little" detail. The seller is saying that he is only willing to put $1000 maximum towards regularized the deck. This offer sounds ridiculous to me and just like a person above said maybe the seller is fishing for a buyer who does not know better or is willing to buy without CO.


Honestly in this circumstance as a seller the largest credit I would give is the cost to rip out deck,
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Old 03-02-2015, 07:31 AM
 
1,045 posts, read 1,051,676 times
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Here's the thing with real estate on LI - there are a lot of houses missing CO's. Lots of people are either too naive or don't want the hassleof getting CO's before doing work. Or you could have a situation like we're dealing with, where something was added to our house in the 1980's, and two buy/sells and 30+ years later, it was picked up by the town. Not all sellers w/o CO's are maliciously trying to hand off horrible houses to unsuspecting buyers; some of them are blindsided, too.

There are lenders that will let you close if the sellers leave money in escrow - so the sellers are still held responsible for fixing everything so that it's up to code. If you really love the house, that might be an option for you.
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Old 03-02-2015, 08:03 AM
 
4,538 posts, read 6,419,982 times
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Quote:
Originally Posted by GiveMeCoffee View Post
Here's the thing with real estate on LI - there are a lot of houses missing CO's. Lots of people are either too naive or don't want the hassleof getting CO's before doing work. Or you could have a situation like we're dealing with, where something was added to our house in the 1980's, and two buy/sells and 30+ years later, it was picked up by the town. Not all sellers w/o CO's are maliciously trying to hand off horrible houses to unsuspecting buyers; some of them are blindsided, too.

There are lenders that will let you close if the sellers leave money in escrow - so the sellers are still held responsible for fixing everything so that it's up to code. If you really love the house, that might be an option for you.
Also it is risky for sellers too to give up lots of money in escow for COs.

When I bought my house seller was honest and told me upfront he added a third bathroom in master bedroom and put a deck on house. He put money in escrow and made mistake of accepting my lawyers language to obtain outstanding COs. He was the third owner of the house.

Well the inspector shows up after closing and it turn out the second owner actually did a dormer, enclosed a porch and added an upstairs deck without a permit.

Well the guy I bought it from went ballistic, he was like I owned house ten years and that stuff was there when I bought it. So I talk to neighbor who lives there 30 years and goes oh yea Eddie who owned that house was a cheapskate, never got permits and was worried taxes were going to go up.

At this point I felt bad for guy I bought it from as I got a fair price and he was honest so I did the leg work and after wasting around 40 hours of my time got all the permits for a few hundred bucks in fees, took it out of escrow and we returned around $9,500 out of the 10K in escrow.

Guy I bought it from wife left him for another guy and at same time he lost his job and had some health issues. He was happy I took care of it. But really if I had to rip out that dormer, bathroom, florida room and decks it would have cost more than the 10K in escrow which I would have been out money and the other guy who sold me the house would have been out ten grand.
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