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Real Estate
Reply to "House under contract, but aluminum wiring"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Is aluminum wiring illegal meaning the seller would need to fix it before selling to someone else[/quote] That real estate contract doesn't work that way anymore. Homes are sold as-is and the seller doesn't have to fix stuff like this. OP, if you have a home inspection contingency, rather than a general inspection contingency, get multiple estimates and get a seller credit. If you have a general inspection contingency and don't have the money to rewire properly yourself, [b]I would walk. The sellers will need to disclose this to other potential buyers[/b].[/quote] And because of that, the sellers are likely going to be willing to negotiate some additional credit to you for this. It's worth raising through your agent. We just bought and sold with general inspection contingencies and had seller credits in both deals after inspection reports disclosed some items that gave the buyers great pause (us in the first transaction, and the buyers in our sale transaction). [/quote] Is that true though? I hear that mentioned all the time, but I know of unscrupulous people who would conceal known defects. I mean, you'd have to prove that they knew it and how would you know without access to the old report? Then to get any recourse, you would have to take them to court? Anyways I'm asking because we actually had to sue our flipper for major issues with our property. And even then, he got a slap on the wrist. By that I mean the judge let him make all the repairs required with unlicensed, incompetent contractors, meaning that it only delayed the problems. (bought us a few years before we had to get good contractors to redo the work) Oh and this flipper was a known fraud in DC and had a class action lawsuit against him.[/quote]
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