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Old 02-25-2013, 05:47 PM
 
1,068 posts, read 1,443,716 times
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Hi folks, need some of your advice here.

So I found a condo in Colorado that I really liked and was hoping to buy. As an out of state buyer(I'm in AZ now), I wasn't able to be present during the inspection of a small condo which I was trying to close on.

The inspection revealed a few issues, nothing major.

We did the final walk-through on the closing day. As we are walking through the condo, we saw that there was a hole in the corner between the wall and the carpet, which was poorly covered with some glue-type material.

That was pretty disconcerting, and after some thinking and putting the numbers together, decided to terminate.

Now, the question is:
Since the inspector failed to mention it in the report, is there any way we can:

- get our earnest money back (since there was a issue that we weren't aware of)
- get at least a refund for the inspection?

Any advice will be appreciated!

Last edited by Flavia84; 02-25-2013 at 05:59 PM..
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Old 02-25-2013, 05:51 PM
 
1,068 posts, read 1,443,716 times
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The first picture shows the damaged floor.

On the second picture you can see that there was a desk during the inspection but you can still see the damaged flooring.(sorry about the picture upside down - can't figure out my new computer's photo application!)
Attached Thumbnails
Poor inspection caused termination of contract. Can we get our money back?-photo-3-.jpg   Poor inspection caused termination of contract. Can we get our money back?-photo-4-.jpg  
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Old 02-25-2013, 06:05 PM
 
Location: Hernando County, FL
8,489 posts, read 20,643,615 times
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Looks like you got a case of cold feet. I can guarantee you will not get inspection money back and I would be very surprised if the seller lets you walk with your deposit.
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Old 02-25-2013, 06:07 PM
 
Location: NJ
17,573 posts, read 46,144,871 times
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You terminated over that? Why on earth do you think you are entitled to your earnest money back? You were given every opportunity to do whatever inspections you wanted to.
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Old 02-25-2013, 06:16 PM
 
1,068 posts, read 1,443,716 times
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Quote:
Originally Posted by manderly6 View Post
You terminated over that? Why on earth do you think you are entitled to your earnest money back? You were given every opportunity to do whatever inspections you wanted to.

We did, and the inspection report didn't mention that hole in the wall

Basically, that condo was not in the best shape and needed quite a bit of repair work. But as we were doing the walk through, as more issues were coming up the price was becoming less and less attractive because of how much we'd have to put into it to fix it up!

The whole in the wall became the tipping point.

Last edited by Flavia84; 02-25-2013 at 06:30 PM..
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Old 02-25-2013, 06:21 PM
 
1,068 posts, read 1,443,716 times
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My understanding was that if during the final walk-through we discover issues with the interior or exterior of the condo, we should be able to terminate...
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Old 02-25-2013, 06:22 PM
 
3,608 posts, read 7,922,824 times
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I don't see a hole in the wall. If there is, where I come from we use spackle for cosmetic repairs.

I think

1. You haven't got a prayer of getting your money back.

2. You are not ready for the stress of home ownership.
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Old 02-25-2013, 06:24 PM
 
7,280 posts, read 10,952,353 times
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Quote:
Originally Posted by Flavia84 View Post
We did, and the inspection report didn't mention that hole in the wall
It was YOUR inspector, not the sellers. it wasn't the seller's fault you weren't present at the inspection. You hired the inspector so anything regarding that is between you and the inspector and inspectors don't pry up carpets, move furniture and stuff like that.

It looks like you're just trying to get out of buying. If I were the seller, I'd simply say "sure, you can cancel, just leave the money and please don't slam the door".

If I were the inspector, I'd tell you that it was your responsibility to be present and direct any activities you thought needed to be addressed including arranging with the seller to move furniture or things that might hide faults.
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Old 02-25-2013, 06:54 PM
 
Location: NJ
17,573 posts, read 46,144,871 times
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Quote:
Originally Posted by Flavia84 View Post
We did, and the inspection report didn't mention that hole in the wall
Surely you don't think that is the seller's fault, do you? Put yourself in their position. If you were selling would you gladly hand over the earnest money and start over from scratch?
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Old 02-25-2013, 08:07 PM
 
Location: El Dorado Hills, CA
3,720 posts, read 9,999,504 times
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It might be different for you, but here the walk through before closing is to verify the property is in the same condition as when you made the offer. It clearly was there before because whatever you are seeing is in the pics from the inspection.

Start with your agent, then ask a lawyer if you can get your earnest money back. I would think the amount you stand to lose is probably more than the amount it would take for the cosmetic repair in that area.
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