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Alex, most of the RE contracts in Texas are a contingency type. If the contract you have with the seller is contingent on the inspectors report, I'd walk the purchase. This isn't going to get better and in my experience (over 50 yrs) the seller will probably take a lot of the items in the house with them like shower rods, towel bars, I've even seen them take the commodes. Ya never know, the seller just may come around once they find out the contract is going to fold and fix the list. For what you are spending, in Texas, that ain't no cheap house and you shouldn't have to put up with any sellers crapola. Business isn't THAT good in Austin that you can't find a house without the drama.
I had a very difficult seller who was a lawyer going through a divorce and was bitter in general. His realtor and mine were both intimidated by him. He sat through my inspection and appraisals, showed property to other buyers during my inspection and outright denied any negotiations. I walked away as this was a business transaction and I don't do business with rude people.
Now that I am older and mature, I think that was a stupid decision and realtors lacked skills to make transaction go smoothly.
Again, for those who are focusing in on the inspection issues, that is not our concern. We have accepted that we will have to do the repairs ourselves and consider it part of the cost of the house. We made a request, she denied most of it, that was that. I don't understand why some people is fixating on this issue. Maybe I shouldn't have used the word "difficult" as that seems to be perceived as "she won't pay for things".
We are asking if there is anything we should be concerned about during the closing period when dealing with a seller that you don't completely trust. She strikes us as the type of person who is not going to leave a note when she hits your car in a parking lot. Fine, we get that. Does that mean we should involve an attorney to go over every detail before the option period is up? Or is a thorough inspection and standard legal protection enough?
This isn't going to get better and in my experience (over 50 yrs) the seller will probably take a lot of the items in the house with them like shower rods, towel bars, I've even seen them take the commodes.
Thank you, this is exactly the type of concern that I'm talking about. We're worried that if it isn't explicitly in the contract, she will take advantage of the situation. But I don't know if that's just first time buyer nerves or not.
What do you think is likely to happen during the closing period? Exactly what are you fearing? That will help us give you a more satisfying answer to your question, hopefully.
After several months of looking we found a house that we really like in a location that we really like.
Our concern is that the seller has been demanding and difficult throughout the option period (there is more that I didn't get into).
Go through with it -- you really like it, plus it's a great location. Not easy to find. Buying a house is one of the more stressful things you will go through in life, but it's worth it in the end. My sellers changed their minds about selling when I bought my first house, and THEY were difficult, but a contract is a contract!
As for any monkey business like removing fixtures that you assume come with the house, that's what the final walk-through is for.
Go through with it -- you really like it, plus it's a great location. Not easy to find. Buying a house is one of the more stressful things you will go through in life, but it's worth it in the end. My sellers changed their minds about selling when I bought my first house, and THEY were difficult, but a contract is a contract!
I'm confused, though, about the "no contingency conditions". It sounds like you think the sale is contingent upon the outcome of the inspection. Don't you have to write in a dollar figure, such as "repairs over $XX" will result in re-negotiation?? (can't remember the correct phrasing). If you don't write that in, and walk away, don't you lose your deposit?
Not in Texas. Real estate is different in different states.
Here we have an option period (the buyer pays a small fee), usually ten days or so so that both parties can get estimates if necessary, during which time the buyer does their due diligence, including inspections, and during that period of time repairs of hidden items found during the inspection can be negotiated - or not, if the buyer decides to just have them fixed after closing. Also, during the option period, the buyer can walk for any reason or none and get their earnest money back (though they are out the cost of any inspections they might have had done and won't recoop that).
So, whatever the amount of repairs that might turn up, renegotiation CAN occur but is not REQUIRED to occur.
The contract is not contingent on repairs, in other words. The buyer can ask, the seller can agree or say no, the buyer can move forward or walk, during the option period.
I'm confused, though, about the "no contingency conditions". It sounds like you think the sale is contingent upon the outcome of the inspection. Don't you have to write in a dollar figure, such as "repairs over $XX" will result in re-negotiation?? (can't remember the correct phrasing). If you don't write that in, and walk away, don't you lose your deposit?
Sorry, I am probably using the wrong language. I meant that our offer is not contingent upon us selling our current house or anything like that. We're currently renting.
We do not think the sale is contingent on the inspection. If we walk away now, we only lose our option money ($200), not the deposit. The houses we have been looking at have been getting multiple offers in 24 hrs, that's why we put in the offer before the inspection. We knew that it was possible that the inspection would be terrible and we would have to walk away and lose our $200.
Don't worry about the seller 'stealing' items or trashing the house before closing! Remember, you get a final walk through right before closing to ensure that everything is as it should be! If it isn't- deal is off!
At this late stage in the game though, the seller would be incredibly petty to jeopardize the closing by pulling something like that! Plus, they'd be making their property less valuable for other potential buyers, if things fall through with you! Keep us posted and I hope everything goes smoothly for you!
Good luck!
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