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So, we have a contract on a house, supposed to close in less than 2 weeks!! After inspection, seller agreed to REPLACE roof. Two weeks after executing the fully signed addendum agreement for roof replacement, their realtor has informed our realtor they will NOT be replacing the roof. Apparently, they agreed to replace it when they planned on filing an insurance claim (it is hail damage to the shingles). However, they never checked with their insurance company. Their insurance company will only allot for repair.
1. We can be nice, do onto others, give them a break, and allow them to only repair the roof. We'd have been FINE with this option instead of the replacement when we originally did the contract. They OFFERED to replace the roof, when we requested replace OR repair.
2. We can make them honor the contract and replace the roof or refuse to close... right? But can they end the contract and we get our earnest money back? Or are there some other consequences?
3. What are my other options in this situation?
The most important thing to us is that we get this house. I just can't believe they agreed to something like this without fully checking into it. We don't want to be jerks, and want to be nice about this, but WTF! It's a legal contract!
These people have been so difficult, we are paying AT market value based on CMA, not a penny a square foot less, and BECAUSE they agreed to replace the roof, we didn't even ask them to address ANY of the other inspection items... and there were A LOT of inspection items... most small, and most that we plan to fix ourselves.
I'm frustrated, and I'm afraid if we push we can lose the house.
If I'd have known they were only going to do a repair, I may have asked for some other inspection items... we were trying to be nice since they agreed to replacement.
Roof is only 7 years old, we are in Texas, if any of that matters.
We have given notice on our apartment and must move by end of month. I am freaking out that things won't be done on time. We believed that they were having it addressed for the last two weeks! Just hadn't heard much due to the holidays.
What happens if they don't close on time because they took so long addressing the roof? Do we get the choice of walking away or waiting? Or is there some in-between option?
Starting with you really want the house and a repair would have been fine with you in the first place, I'd suggest that you be willing to take that deal but, before you do, try to renegotiate (and amend your contract) so they complete the other repairs and/or reduce their price. Give a little, get a little but never lose sight of the goal.
Wow, so similar to another post , from the other side...
A few posts ago I saw someone who was a seller that was like your the one is this deal: over promising and then getting worried.
The key is that the OP sounds like they still really want this house, and the seller in the other thread also wanted to sell -- if that is the basis on both sides then the deal is just a lot of ways of making sure everyone stays innthe same page.
The buyer's agent should remind the seller's agent that there was an agreement to have the roof replaced. The reality of insurance not replacing a seven year old roof (yeah no surprise there..) was something that the seller did not anticipate and needs to be addressed.
Personally I hate having the seller handle repairs unless they are required like in an FHA deal. Much better to credit back money for repairs at close. So much less to go wrong when it is just another check!
I agree with Chet. If it were my house I would want to get the roof replaced by a company I selected. At this point, I would get a couple of estimates for getting the roof replaced and ask for that amount of money at closing. I would be sure my new roof was not a layover, btw.
If you would have been happy with the repair, why not run with it? Or do you know have your hearts set on replace? You might be able to negotiate additional repairs or a slight decrease in price. To try to force them to honor the contract will cost you legal fees and time and has the potential for being extremely contentious. Work with your agent on getting to a mutually agreeable solution or walk.
So, we have a contract on a house, supposed to close in less than 2 weeks!! After inspection, seller agreed to REPLACE roof. Two weeks after executing the fully signed addendum agreement for roof replacement, their realtor has informed our realtor they will NOT be replacing the roof. Apparently, they agreed to replace it when they planned on filing an insurance claim (it is hail damage to the shingles). However, they never checked with their insurance company. Their insurance company will only allot for repair.
1. We can be nice, do onto others, give them a break, and allow them to only repair the roof. We'd have been FINE with this option instead of the replacement when we originally did the contract. They OFFERED to replace the roof, when we requested replace OR repair.
2. We can make them honor the contract and replace the roof or refuse to close... right? But can they end the contract and we get our earnest money back? Or are there some other consequences?
3. What are my other options in this situation?
The most important thing to us is that we get this house. I just can't believe they agreed to something like this without fully checking into it. We don't want to be jerks, and want to be nice about this, but WTF! It's a legal contract!
These people have been so difficult, we are paying AT market value based on CMA, not a penny a square foot less, and BECAUSE they agreed to replace the roof, we didn't even ask them to address ANY of the other inspection items... and there were A LOT of inspection items... most small, and most that we plan to fix ourselves.
I'm frustrated, and I'm afraid if we push we can lose the house.
If I'd have known they were only going to do a repair, I may have asked for some other inspection items... we were trying to be nice since they agreed to replacement.
Roof is only 7 years old, we are in Texas, if any of that matters.
We have given notice on our apartment and must move by end of month. I am freaking out that things won't be done on time. We believed that they were having it addressed for the last two weeks! Just hadn't heard much due to the holidays.
What happens if they don't close on time because they took so long addressing the roof? Do we get the choice of walking away or waiting? Or is there some in-between option?
GRRRRR!!!
It is never advantageous to react out of fear, rather deal with strength. You are the buyers, the sellers have also have a time crunch within which to move. They don't want the sale to fall through either. Sellers who get a top price many times feel they have "undersold" the home and "could have gotten more". That is a fallacy. And as the buyer you feel like you are being squeezed.
If you really want the house, go for it under the current terms and move forward. In the grand scheme of things, the cost of a new roof (if needed in a few years) will be spread out for the amount of years you live in the house. For now, I would agree to have the repairs done by a reputable contractor, and including a caveat and a workmanship guarantee by the roofing contractor for X amount of years. (Bottom line, the seller got lucky.)
This seems like a no brainer. Repair the roof and ask for some additional repairs. I would tell them that you didn't ask for any other repairs out of courtesy since they would have an entire roof replacement to do. Since they don't you'd like x, y, and z done and will agree to the repair instead of the replacement.
If your buyer agent isn't cutting it, bring in an attorney.
I would be discussing this with an attorney and finding out what your rights are on this. I would definitely be pushing for either the replacement or some kind of purchase price reduction to cover the difference between repair and replace cost.
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Wow, so similar to another post , from the other side...
