Anonymous
07/04/2014 08:56
Subject: Home inspection clause -- HELP! :(
Anonymous wrote:PP
OP said there was a failed boiler, bad hot water heater termite and water damage. These are not cosmetic items. I personally don't thinkmtheybare worth walking away from the house for maybe $10,000 worth of repairs. But that depends on many factors OP has not shared
No those would be real problems that need to be fixed and I can absolutely see walking away from that if fixing them is not worth the money. I didn't mean to imply otherwise.
I don't like this light fixture, that door knob should be brushed nickel not gold....those are cosmetic. They are readily apparent and can be factored into the offer from the get go.
Anonymous
07/04/2014 08:53
Subject: Home inspection clause -- HELP! :(
It is my understanding that all systems need to be in working order. This included the boiler - even if it is being sold "As-Is"
Key points:
1. I a mnot a real estate agent
2. It may vary state to state (this was DC that my agent told me it did not matter that it was "as-is" .
3. There may be a separate - Estate Sale clause that may make it OK to sell straight up as is
Ask your real estate agent!
Key points:
1. I a mnot a real estate agent
2. It may vary state to state (this was DC that my agent told me it did not matter that it was "as-is" .
3. There may be a separate - Estate Sale clause that may make it OK to sell straight up as is
Ask your real estate agent!
Anonymous
07/04/2014 08:49
Subject: Home inspection clause -- HELP! :(
PP
OP said there was a failed boiler, bad hot water heater termite and water damage. These are not cosmetic items. I personally don't thinkmtheybare worth walking away from the house for maybe $10,000 worth of repairs. But that depends on many factors OP has not shared
OP said there was a failed boiler, bad hot water heater termite and water damage. These are not cosmetic items. I personally don't thinkmtheybare worth walking away from the house for maybe $10,000 worth of repairs. But that depends on many factors OP has not shared
Anonymous
07/04/2014 08:21
Subject: Home inspection clause -- HELP! :(
Anonymous wrote:Here's why people do estate sales as-is. Grandpa died and his heirs are trying to wrap things up in a short amount of time. I want the house to be gone. I probably don't live in the area. I know Grandpa hasn't updated the house to current tastes, and I have priced the house accordingly.
I am NOT going to go through 18 rounds of "the bathroom caulk is peeling/the trim needs painting/the carpet is smelly/the light fixture is wobbly". This is a house for someone who wants to make it their own, not someone who watches too much HGTV and complains about the wrong color of granite and an older vanity in the bathroom.
Wrong color granite, carpeting not my style, I don't like that paint color - cosmetic things - should be factored into the price you offer. Maybe you can ask for a decorator credit but those aesthetic things aren't home inspection issues. And what is horrible to one person might be wonderful to another.
Home inspection issues are actual - real - problems that need to be fixed.
I only make the distinction because I think that people very often confuse the two.
Anonymous
07/04/2014 08:16
Subject: Home inspection clause -- HELP! :(
We bought a house as-is 11 years ago. You can ask for repairs but the basic understanding is that they are not going to bargain the price. We asked for a few very small things but accepted the flaws because we wanted the house.
In retrospect, I wish we had asked for another $20k knocked off the price, although I doubt the sellers would have accepted (they haggled over the $50 fax charge in the closing costs!) But we later came to realize that the house had more needs than the inspection disclosed. It wouldn't have really made a difference on our mortgage (which was what our realtor stressed) but when we had to put more money into the house than we anticipated, we would have felt a tiny bit better about it.
I don't wish we'd walked though.
In retrospect, I wish we had asked for another $20k knocked off the price, although I doubt the sellers would have accepted (they haggled over the $50 fax charge in the closing costs!) But we later came to realize that the house had more needs than the inspection disclosed. It wouldn't have really made a difference on our mortgage (which was what our realtor stressed) but when we had to put more money into the house than we anticipated, we would have felt a tiny bit better about it.
I don't wish we'd walked though.
Anonymous
07/04/2014 08:06
Subject: Home inspection clause -- HELP! :(
My friend is selling her parents' house as is. The buyer has asked she split the price of a costly repair that came up during inspection. She's going to do it, because finding a new buyer is a pain and she knows future buyers also will be put off by the costly repair. In the end, she could end up paying for the repair herself, so why not split it with the buyer and at least save some $$$.
Anonymous
07/04/2014 07:12
Subject: Home inspection clause -- HELP! :(
OP, you still have the freedom to walk--and you can ask.
We had some repairs done between our inspection and closing for an as-is house...but it was relatively small in the grand scheme of things. What you describe seems walk-worthy.
We had some repairs done between our inspection and closing for an as-is house...but it was relatively small in the grand scheme of things. What you describe seems walk-worthy.
Anonymous
07/04/2014 06:37
Subject: Home inspection clause -- HELP! :(
Here's why people do estate sales as-is. Grandpa died and his heirs are trying to wrap things up in a short amount of time. I want the house to be gone. I probably don't live in the area. I know Grandpa hasn't updated the house to current tastes, and I have priced the house accordingly.
I am NOT going to go through 18 rounds of "the bathroom caulk is peeling/the trim needs painting/the carpet is smelly/the light fixture is wobbly". This is a house for someone who wants to make it their own, not someone who watches too much HGTV and complains about the wrong color of granite and an older vanity in the bathroom.
I am NOT going to go through 18 rounds of "the bathroom caulk is peeling/the trim needs painting/the carpet is smelly/the light fixture is wobbly". This is a house for someone who wants to make it their own, not someone who watches too much HGTV and complains about the wrong color of granite and an older vanity in the bathroom.
Anonymous
07/04/2014 06:34
Subject: Re:Home inspection clause -- HELP! :(
The clause means you have 3 days after the home inspection to walk. You need to figure out if the house is still worth it to you with the needed repairs. BTW: if you have a rude agent demand someone new. Your agent is working for you on one of the largest purchases you will ever make so please don't feel intimidated or uncomfortable.
Anonymous
07/04/2014 06:32
Subject: Re:Home inspection clause -- HELP! :(
OP: this is really an easy decision.
If the price you are paying for the house plus repairs that would be funded by you is more than what you think the house is worth, then you should walk.
If you ask the Seller to make the repairs, the Seller, at least in theory, has the right opt out by waiting the three days at which point the contract will be voided.
If the price you are paying for the house plus repairs that would be funded by you is more than what you think the house is worth, then you should walk.
If you ask the Seller to make the repairs, the Seller, at least in theory, has the right opt out by waiting the three days at which point the contract will be voided.
Anonymous
07/04/2014 06:24
Subject: Home inspection clause -- HELP! :(
OP, that sucks. But why do you think they put in "as is"? And why would they want to give you a credit if they have other buyers lined up? How much will those repairs cost you? Are you thinking that the buyers will adjust the price just out of fairness once they know about the defects?
Anonymous
07/04/2014 02:13
Subject: Home inspection clause -- HELP! :(
Anonymous wrote:Hello!
I am under contract with a home that is being sold as is. We have a home inspection clause, but because it is an as-is sale, the contract states that the "home inspections [are] for buyer information only".
Does that mean we can't go back to the Seller and ask for a credit towards critical fixes? The home inspection has found some water damage, a failed boiler and water heater and minor termite damage.
My agent says that if we were to ask the seller for credit, they will void the contract and go with another buyer. Is this possible, even if we just ASK for credit? My understanding from the home inspection clause is that they can void the contract after 3 days of receipt of our credit-asking, but that we have those 3 days to backtrack and accept the original offer.
From the Home inspection Clause, the seller may (upon receipt of the Home Inspection Notice):
" (iii) Deliver Notice that this Contract will become void at 9pm on the 3rd Day following Delivery, unless the recipient delivers to the other party Notice of the acceptance of the last Delivered offer prior to that date and time, in which case the Contract will remain in full force and effect."
Anyone have any idea? The bold part is what confuses me -- what does that mean?
My agent has been a bit rude throughout the process, so I can't tell if his threatening us that the seller will void the contract is just his way of making sure he gets his commission quickly.
Thank you!
Doesn't your home inspection still allow you to void the contract? Unless you are willing to make the repairs, that is your best option
Anonymous
07/04/2014 01:52
Subject: Home inspection clause -- HELP! :(
We bought a house like that. It was an estate sale. You can ask but be prepared to find another house. You knew going in that they were not willing to make repairs.
Anonymous
07/04/2014 01:16
Subject: Home inspection clause -- HELP! :(
My understanding as explained by my very nice realtor is that you havethe power to walk, but not the power to ask for fixes or money.
Anonymous
07/04/2014 00:57
Subject: Home inspection clause -- HELP! :(
Hello!
I am under contract with a home that is being sold as is. We have a home inspection clause, but because it is an as-is sale, the contract states that the "home inspections [are] for buyer information only".
Does that mean we can't go back to the Seller and ask for a credit towards critical fixes? The home inspection has found some water damage, a failed boiler and water heater and minor termite damage.
My agent says that if we were to ask the seller for credit, they will void the contract and go with another buyer. Is this possible, even if we just ASK for credit? My understanding from the home inspection clause is that they can void the contract after 3 days of receipt of our credit-asking, but that we have those 3 days to backtrack and accept the original offer.
From the Home inspection Clause, the seller may (upon receipt of the Home Inspection Notice):
" (iii) Deliver Notice that this Contract will become void at 9pm on the 3rd Day following Delivery, unless the recipient delivers to the other party Notice of the acceptance of the last Delivered offer prior to that date and time, in which case the Contract will remain in full force and effect."
Anyone have any idea? The bold part is what confuses me -- what does that mean?
My agent has been a bit rude throughout the process, so I can't tell if his threatening us that the seller will void the contract is just his way of making sure he gets his commission quickly.
Thank you!
I am under contract with a home that is being sold as is. We have a home inspection clause, but because it is an as-is sale, the contract states that the "home inspections [are] for buyer information only".
Does that mean we can't go back to the Seller and ask for a credit towards critical fixes? The home inspection has found some water damage, a failed boiler and water heater and minor termite damage.
My agent says that if we were to ask the seller for credit, they will void the contract and go with another buyer. Is this possible, even if we just ASK for credit? My understanding from the home inspection clause is that they can void the contract after 3 days of receipt of our credit-asking, but that we have those 3 days to backtrack and accept the original offer.
From the Home inspection Clause, the seller may (upon receipt of the Home Inspection Notice):
" (iii) Deliver Notice that this Contract will become void at 9pm on the 3rd Day following Delivery, unless the recipient delivers to the other party Notice of the acceptance of the last Delivered offer prior to that date and time, in which case the Contract will remain in full force and effect."
Anyone have any idea? The bold part is what confuses me -- what does that mean?
My agent has been a bit rude throughout the process, so I can't tell if his threatening us that the seller will void the contract is just his way of making sure he gets his commission quickly.
Thank you!