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Condo Buying VENT! (Very long)
UGH I am SO frustrated! Lets see if I can make this make any sort of sense...
1. On our inspection there was a small crack in the basement wall. It was cleaned up by my FIL (he is a contractor and DH's uncle is the selling agent on the property) who was hired by the sellers. Our inspector thought it looked really clean and dry. No evidence that this crack has ever leaked in 30 years. We thought we were set
2. Appraiser noted it on her report but didn't make it a must fix for FHA financing. The underwriter just asked for documentation that the crack was fixed by a licensed contractor.
3. Last Friday, I e-mailed our loan officer asking if we were on track for our Monday (19th) closing and she said actually it looks like we are going to close early on Friday 16th (YAY!). I didn't hear anything Mon or Tues so I emailed yesterday afternoon to find out where we were. She e-mailed me a quick e-mail that we were waiting on one final sign off that the furnace was fixed, from the realtor (it was done 2.5 weeks ago) but didn't mention any change or the exact date/time of closing. Dh calls his uncle (our realtor) and he goes on this rant that he can't get a hold of the furnace repairman to get a signed repair bill, and we now have to have a structural engineer check the crack in the foundation. This is also going to cost someone $400!!! But he doesn't know who is going to pay it. Oh and this puts us at closing late next week and we have to sign an extension on the closing date. I'M SO PISSED!
None of this was communicated with us. My impression it was a few paperwork things of inspections/repairs that were already completed not NEW inspections! I don't know what to do. I'm thinking I may e-mail the mortgage people and say why was this not communicated with us. I knew this process was going way too well.
If you got through this, you are a saint. I can't wait until we are just in this place.
Re: Condo Buying VENT! (Very long)
I'm so sorry you are dealing with that.
Home buying is a huge PITA. We had several issues like you described as well, and I can remember feeling so frustrated. After all, you just want to get into your new place so you can move forward. I totally get it.
Hopefully they will get all their ducks in a row and the sellers will agree to pay any of the additional costs, as they should.
Keep us updated.
Part of the problem/perks of the sellers are it is an estate sale. The owner passed away about a week before we put in a bid. So they are motivated but just don't want to put ANY money into it. It took Dh's Uncle 45mins to explain that with the price range of this condo you will mostly get FHA offers, which will usually include a request for money toward closing costs. They didn't want a cent of money to go into this condo because each dollar into it is out of their inheritance. One perk to all of it was they were super motivated to sell, so we got it at a steal.
Ugh I hope we get some more information today.
Yikes, sounds complicated. Buying a house/condo IS a pita, but it doesn't make going through it any easier! That's good/bad about the reason you got a good deal on the house, and that they are now unlikely to put any money into it. I'd still request that they pay for it, they can still say no, but you would have tried.
I'd be pretty irritated to have to pay $400 on the engineer, to find out something very expensive is wrong, and end up not buying the house (worst case scenario), and have spent that money.
Hopefully they will change their mind and just pay for it, in hopes to get this over with and move on. I definitely agree that they should pay for it to be done, and probably should have had it done before putting it on the market. It's kind of like the whole radon deal with some houses, if it's a problem, it's the current owners to fix.
I really hope it all works out and things go smoothly from here on out. Keep us updated!
True, but, if the option is not having the Engineer come (save $400) and find out down the road that something major is wrong to the tune of who knows how much money - I'd regret not having spent the $400.
Just another side of it.
I'm glad we got it thoroughly checked out, it would have been nice to know that this was such an issue. FIL said the only reason they did something with it was the last patch job looked even worse.
Good news is we were cleared to close Monday at 1pm! The furnace inspection was turned it today and we have an appointment. I will post pics as soon as we get some stuff done! Thanks for everyone's listening ear