Discovered major leak days before closing. Do i have my right to cancel the contract? (commercial, residential)
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Not at all. I've dealt with a pipe leak behind a wall numerous times in the past. They can me minor or indicative of a major problem. Most were minor but I've had two which were major.
I'm not going to listen to my RE agent especially if he knew about the problem and didn't at least email me right away.
True, a 30 min consultation can cost $300 but I'm spending a hell of a lot more buying the house.
You get nothing for your money. The attorney correctly tells you the seller has a right to fix the leak.
He will gladly discuss your options. But that is the truth of the matter. Yes you can end the deal - but very likely at the cost of your earnest money. Etc...
And think about it. if the seller fixed a big leak the week before you went to contract you would pretty much be in the same situation. The only difference is the leak has held for 5 weeks or so if that gives you confidence in its integrity.
And again all you would do would be waste the cost of the consultation.
It really is cut and dried in a regular sale transaction.
Now if I were either agent and had the opportunity I might well try to tie the buyer and seller into an agreed solution. In this case it would likely be to fix the leak but leave the wall open. Seller to make arrangements to have the wall fixed or compensate the buyer. Note that with a bank involved this can get complex and in some cases the only sensible way may be to get the repair completed before closing.
And if the repair has already been completed I might well push the seller to agree to reopen the wall. And if he refuses I might well agree to pay to have it done myself. A few hundred dollars against a reasonable commission is a no brainer.
Note that in the West the RE Attorneys are high price specialists used almost exclusively when a deal gets legally contentious. They play no role in routine sales.
Nonsense. My RE attorney in SF specialized in the kind of disputes we're discussing. I spent $750 to have him to spell out the restriction of the Cal. Ellis Act so there were no misunderstandings by the buyer. Worth every penny.
The idea is to get a handle on this (pipe leak) and not end up in court. You put down 5-7 EM so spend the $300 to find out what's going on.
When my RE agent starting jerking me around regarding the Ellis Act disclosure docs telling me not to worry. F-that. I had my attorney call him. He's $370 an hour and I paid for 15 minutes. When my agent hung up he knew I knew what was up. I wanted acknowledgment from the buyer which I was entitled to under under Cal. law.
No need for a lawsuit or courts. Just know where you legally stand.
Maybe in this case there might not be much recourse. Perhaps I would have to accept the pipe repair or risk losing my EM.
On the other hand maybe I have a right to put the deal on hold until I conduct my own inspection.
Maybe it's the seller job to re-open the wall for me to inspect. That he's got to cover the cost.
Who am I supposed to trust? My RE agent? If half of what the OP wrote is true about this mess (and I have my doubts...) then forget it.
Wait, are you the same guy who has been cross-examining the OP for the last several pages for doing just that?
He mentioned a free on-line attorney early on and now:
Quote:
Originally Posted by 1stxhomebuyer
I could done that, like i said my attorney gave me 4 possible resolution. 2 of them is to fight for the deposit but it may end up cost me more. So i chose to forfeit. Seriously, you should read all the pages. I am tired to explain to you.
Come on. If this guy had spent money and sat down with an attorney this would be all over his posts. He's playing the victim. I don't buy it.
He mentioned a free on-line attorney early on and now:
Come on. If this guy had spent money and sat down with an attorney this would be all over his posts. He's playing the victim. I don't buy it.
I never mention free online attorney. It was a local RE attorney. He consulted me without charging ( i don't know why but it was such a kindess act). He offered me to write a letter($300) cost. But i did not pursuit that because he also explained it may or may not get might deposit back. Since i am willing to forfeit it. I did not ask him to write. I just told him i will come to his office if the seller pursuing in court. He agreed. So far, his guidance helped me a lot. I planned to visit his office to say thank you and a little gift this Thurs ( suppose to be the mediation).
I never mention free online attorney. It was a local RE attorney. He consulted me without charging ( i don't know why but it was such a kindess act). He offered me to write a letter($300) cost. But i did not pursuit that because he also explained it may or may not get might deposit back. Since i am willing to forfeit it. I did not ask him to write. I just told him i will come to his office if the seller pursuing in court. He agreed. So far, his guidance helped me a lot. I planned to visit his office to say thank you and a little gift this Thurs ( suppose to be the mediation).
I hate to nitpick but this is what you said and this is why me and other's are referring to your lawyer as your 'free online attorney'.
"
Quote:
To bash about my lawyer. I found him on Google but he's been super nice to me, giving me guidance through email without charge. He said he will be my attorney if I need to and of course with a rate but he's been consulting me what should be done and stuff."
But whatever, it's done and over with. Good luck with any other home you purchase.
I hate to nitpick but this is what you said and this is why me and other's are referring to your lawyer as your 'free online attorney'.
"
But whatever, it's done and over with. Good luck with any other home you purchase.
I should say i found him through google or i googled him. Sorry for the confusion.
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