Buying A Home
duckie1905
member
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Under Contract but Inspection Revealed Major Issues
I know what my lawyer thinks, and I know what my realtor thinks but I'm interested in some outside opinions about what is going on with our house search.
We found a house that we really love. We saw it, made an offer immediately, it was accepted, and we went under contract the following day. Our inspection was yesterday and we received the report today. The inspection revealed some major issues and I'm having a hard time with what to do next.
We are at the maximum closing credit our lender will allow so we can't ask for credit to fix these things. Lowering the price of the house doesn't do any good because we don't have the cash on hand to fix everything major in addition to all of the minor things that we were already willing to fix.
The list for major repairs/replace includes:
1. the non-functioning AC unit, including exposed wiring and leaking
2. The furnace
3. The hot water heater.
4. Rodent infestation. This is due to some lifestyle choices of the owner. No judgement but we don't live like she does.
5. Waste water leaking into the walk out basement from the remodeled 3rd floor bathroom.
The hot water heater we'd be willing to replace because we were probably going to do it regardless. The AC we could potentially be swayed on because we wouldn't need a new one until next spring, but we would like the current one removed because it is hazard.
The furnace, plumbing issues, and rodents we are not willing to bend on at all.
My lawyer and realtor believe that we have a pretty good shot at getting her to pay to have all of this fixed if we ask because she's already purchased a home and needs to unload the one she is in. She'll have the cash coming on closing to pay for the work. The way they see it, it makes more sense for her to play ball with us now than to star over with a new buyer (having to disclose all of this) or sell the property "as is" at a substantially reduced cost.
The main issue we're having is even if everything was fixed by a professional, reinspected, and had a warranty, a lot of these issues happened because of negligence and not being willing or able to care for the home properly. I'm nervous that there might be things that my inspector can't see that are going to cause trouble later.
I will add that our willingness to fix the AC and water heater is on top of the fact that we knew going into it I'd have to recarpet, repaint, repair/replace some fixtures, buy new appliances, etc.
I'm not unrealistic and expecting a house to be perfect but I am being unreasonable asking the seller to fix these major issues?
Re: Under Contract but Inspection Revealed Major Issues
DIY & Home Decor Blog
I wouldn't worry too much about things the inspector may have missed-ours was super thorough and professional. Were you there for the inspection? We went to ours and found the walk-through of all he found very beneficial.
I would worry about your lack of cash on hand, however. It sounds like if she won't play ball, I'd walk.
Good luck, and sorry that it was a bad inspection.
Our attorney informed everyone involved via email (acceptable communication via the contract) that we were exercising our right per the contract to terminate because inspection revealed issues that make the condition of the home unacceptable to us.
A little while ago, I received a forward from our agent from the seller's agent with a lengthy list of things the seller is willing to do to work with us. It includes a home warranty (good luck with that inspection) and fixing some trivial things that are no where near our main concerns.
Am I right to be annoyed because:
1. Our attorney informed them of our decision. That should be the end of it.
2. I feel like follow-up communication should have been sent to our attorney. Not our agent and certainly not me. cc if you want but get in touch with him. I called him; he received nothing from the buyer's agent or attorney.
3. If you're going to come back from that, at least send me serious answers that address the serious issues. Not "I'll hire a carpet cleaner to remedy the smell" which likely wouldn't work anyway.
I bring my annoyance down if someone tells me that this is all standard but this most recent development has left a bad taste in my mouth.
Having to walk was very emotional. The most frustrating part, however, was the fact that our relator discovered that one of the major problems was KNOWN by the seller. A previous potential buyer discovered it, and walked away from the contract. Rather than disclose it to future buyers, the seller fired her first listing agent, and hired a new one that didn't know about the problems.
After we signed the contract amendment, she came back to say that she knew a contractor who willing to fix 2 of the immediate major problems for only $10,000, but at this point, we had no reason to trust her, or anyone that she would recommend. Especially because most of the problems that we would have to fix, were her failed DIY attempts that went horribly wrong. Needless to say, her last ditch effort didn't convince us to stay.
Don't let this bad experience get you down. Keep looking, do plenty of research, and stick to your gut. My husband never really had a good "feeling" about that house....and I guess we found out why!