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What exactly did they alter? What you describe is different than a seller refusing to negotiate on inspection items. I expect your contract says something about the seller having to maintain and convey the property in the same condition as it was at time of signing?
"Seller refusing to negotiate on inspection items"
correct that has not happened yet...my reply is upcoming.
"What exactly did they alter?"
Dismantled and removed some kitchen cabinetry, hot water tank, toilet, combo acrylic bath/shower - some water damage in bath flooring in process. All items still onsite except combo acrylic bath/shower - "unwitting" third party offered to replace combo acrylic bath/shower with iron vintage tub but not to do any work. "unwitting" third party related to seller making it even more messy.
I found a copy of a blank one (slightly different revision) online if you're curious (totally understand if you don't feel like wading through another state's contract just for a random forum thread!):
On page 6, section 14 covers this topic. I will not copy the entire thing here, but some excerpts that seem relevant:
"The following time periods may only be extended, altered, modified or changed by mutual written agreement. Any removal of contingencies or cancellation under this paragraph by either Buyer or Seller must be exercised in good faith and in writing."
"By the end of the time specified in paragraph 14B(1) (or as otherwise specified in this Agreement), Buyer shall Deliver to Seller a removal of the applicable contingency or cancellation (C.A.R. Form CR or CC) of this Agreement. However, if any report, disclosure or information for which Seller is responsible is not Delivered within the time specified in paragraph 14A, then Buyer has 5 (or ) Days After Delivery of any such items, or the time specified in paragraph 14B(1), whichever is later, to Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement."
"If, by the time specified in this Agreement, Buyer does not Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement, then Seller, after first Delivering to Buyer a Notice to Buyer to Perform (C.A.R. Form NBP), may cancel this Agreement. In such event, Seller shall authorize the return of Buyer's deposit, except for fees incurred by Buyer."
Interesting, and an unnecessary complication, but still a great example of why the correct answers will usually be "Look at your contract and see what it says.". Still, the language in your contract doesn't give the seller to cancel over repair requests, but rather if the buyer fails to remove a due diligence contingency. Technically, I'd say that falls in line with my earlier post that most clauses allowing a seller to unilaterally cancel revolve around a buyer not meeting obligations and not over making a repair request.
I found a copy of a blank one (slightly different revision) online if you're curious (totally understand if you don't feel like wading through another state's contract just for a random forum thread!):
On page 6, section 14 covers this topic. I will not copy the entire thing here, but some excerpts that seem relevant:
"The following time periods may only be extended, altered, modified or changed by mutual written agreement. Any removal of contingencies or cancellation under this paragraph by either Buyer or Seller must be exercised in good faith and in writing."
"By the end of the time specified in paragraph 14B(1) (or as otherwise specified in this Agreement), Buyer shall Deliver to Seller a removal of the applicable contingency or cancellation (C.A.R. Form CR or CC) of this Agreement. However, if any report, disclosure or information for which Seller is responsible is not Delivered within the time specified in paragraph 14A, then Buyer has 5 (or ) Days After Delivery of any such items, or the time specified in paragraph 14B(1), whichever is later, to Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement."
"If, by the time specified in this Agreement, Buyer does not Deliver to Seller a removal of the applicable contingency or cancellation of this Agreement, then Seller, after first Delivering to Buyer a Notice to Buyer to Perform (C.A.R. Form NBP), may cancel this Agreement. In such event, Seller shall authorize the return of Buyer's deposit, except for fees incurred by Buyer."
Thanks for looking it up! I DO think it's interesting! OK - so that contract does require buyer to deliver a form with a notice to officially end the inspection period or seller can cancel.
OK! - Mea culpa. That is in fact an exception to what I said is usually true.
Interesting, and an unnecessary complication, but still a great example of why the correct answers will usually be "Look at your contract and see what it says.".
I wondered about a couple details though. I am in a contract and I am the buyer. I have to give my inspection response in a few days. If I ask for price reduction can they effectively say "no - and by the way this contract is now legally void and we are done". ??
I doubt that any seller would say anything further than "no."
Yes.. Check with YOUR agent, but that's how it works in OUR contracts.
Just out of an abundance of caution to hopefully avoid something avoidable... perhaps keep something in mind, Bob. The fact that you decide when and where it's over, *shouldn't* mean you should just ask for anything you might want because there's no harm done if the seller says no. Smarter strategy always is to ask for only those things that are dealbreakers if you don't get them. Things that you can't do yourself after the contract. Items that might get flagged on appraisal and hold up financing.
Why be restrained even if the seller can just say no? Because sellers are emotional animals too, and this is where all the good will in a transaction can blow up because one side or the other seems unreasonable. I have seen it too often before, where one side, or both sides, crosses a line on inspection responses, and the rest of the contract is a battle of bad feelings.
This is not the last time you will need the seller's good will. There may be other negotiations in the contract where you will want the seller to work with you, or even grant you a favor, an extension, or an early close, or complete some small thing your lender requires. You don't want the contract to blow up later over a day change in schedule or a $9.99 smoke alarm that you need.
Always be reasonable... Transactions start out, usually, with a certain amount of good will... burn it up... and you can't get it back.
So true! We had a buyer that asked for EVERYTHING. it was beyond ridiculous. We gave in to a few and told them to take it or pound sand. I had no desire to work with anyone being difficult. Our next buyers said five us $4,000 towards closing and we’ll be good. They were a dream buyer. We even bought them champagne, pool toys for the kids and wished them well.
Yes.. Check with YOUR agent, but that's how it works in OUR contracts.
Just out of an abundance of caution to hopefully avoid something avoidable... perhaps keep something in mind, Bob. The fact that you decide when and where it's over, *shouldn't* mean you should just ask for anything you might want because there's no harm done if the seller says no. Smarter strategy always is to ask for only those things that are dealbreakers if you don't get them. Things that you can't do yourself after the contract. Items that might get flagged on appraisal and hold up financing.
Why be restrained even if the seller can just say no? Because sellers are emotional animals too, and this is where all the good will in a transaction can blow up because one side or the other seems unreasonable. I have seen it too often before, where one side, or both sides, crosses a line on inspection responses, and the rest of the contract is a battle of bad feelings.
This is not the last time you will need the seller's good will. There may be other negotiations in the contract where you will want the seller to work with you, or even grant you a favor, an extension, or an early close, or complete some small thing your lender requires. You don't want the contract to blow up later over a day change in schedule or a $9.99 smoke alarm that you need.
Always be reasonable... Transactions start out, usually, with a certain amount of good will... burn it up... and you can't get it back.
This.^^^^^^^^
With appraisals causing delays, and multiple offers on homes, you run the risk of needing a closing date extension. **** off the seller so they deny an extension ,and you might find contract voided for default thru not closing on time, and the higher priced backup offer moving into primary position.
are you saying closing date extension voids contract
No. That is not what she is saying. She is talking about a common negotiating point, not a contract provision.
And, you have quoted her totally out of context.
What all the agents here are saying is, "Read your contract."
I know of a case where a party had a contract and another buyer came in and offered way more so at inspection, they asked for something and the seller said no and the deal was over. The other buyer backed out, too. It's risky if you are in a hot market to ask for much.
Name the state.
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