Anonymous
07/04/2014 11:22
Subject: Home inspection clause -- HELP! :(
Anonymous wrote:
Maybe the owner would be agreeable to splitting the cost of the boiler/water heater. What is the harm in asking. It seems that the worst thing that could happen is that the buyer says no. Is it just better to walk away?
OP Here.
I want to ask for a credit, but my agent has said if I ask, they will void the contract. I'm trying to figure out if they can really void the contract WITHOUT giving us some sort of warning, like "How dare you ask for a credit for those repairs, we will void a contract in 3 days unless you agree to buy the house with all that's broken!".
We love the house, we just think there is quite a few things that's in need of repair and that the seller should credit us for it. Of course, we don't want to ask for a credit if they are able to immediately cancel the contract and go with another buyer.
Anonymous
07/04/2014 11:09
Subject: Home inspection clause -- HELP! :(
Anonymous wrote: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,[b] 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?[/b]
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!
It means NOTHING in terms of the price, except maybe the termites which is a state requirement. You are trying to get something that is not included in the contract, which is why your agent is impatient with you.
Maybe the owner would be agreeable to splitting the cost of the boiler/water heater. What is the harm in asking. It seems that the worst thing that could happen is that the buyer says no. Is it just better to walk away?
Anonymous
07/04/2014 11:00
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,[b] 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?[/b]
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!
It means NOTHING in terms of the price, except maybe the termites which is a state requirement. You are trying to get something that is not included in the contract, which is why your agent is impatient with you.
Anonymous
07/04/2014 10:58
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!
Run. You do not seem like the type who is ready to renovate a whole house.
Anonymous
07/04/2014 10:47
Subject: Home inspection clause -- HELP! :(
successfully dealt with and treated (not completed). As would a successfully dealt with and treated old water problem. That would indicate that the house was being cared for - in my mind.
Anonymous
07/04/2014 10:46
Subject: Home inspection clause -- HELP! :(
Old termite damage that had been successfully completed would actually tend to sway me in the favor of the owner...but that's me.
Anonymous
07/04/2014 10:22
Subject: Home inspection clause -- HELP! :(
Did you have a termite inspection, too? Most lenders require them in this area. We bought as-is but had a home inspection and a termite inspection. Home inspection found old termite damage, termite inspection verified that the old problem had been treated, no sign of current infestation.
Given the problems you're describing, I'd consider walking. As a PP said, home inspection doesn't find everything, and the issues it did fine are not insignificant.
Given the problems you're describing, I'd consider walking. As a PP said, home inspection doesn't find everything, and the issues it did fine are not insignificant.
Anonymous
07/04/2014 10:15
Subject: Home inspection clause -- HELP! :(
Is this the boiler plate "As-Is" agreement? Or was this something specific that was written in the contract that you can get the home inspection but then can not walk away if there are too many problems?
Because every house I have purchased includes the boiler plate "as-is" agreement but that did not prevent me from asking for money to fix what came out of a home inspection.
Because every house I have purchased includes the boiler plate "as-is" agreement but that did not prevent me from asking for money to fix what came out of a home inspection.
Anonymous
07/04/2014 10:08
Subject: Home inspection clause -- HELP! :(
get a home warranty - we did that and they (with much fighting) replaced our hot water heater (we did the cash out and bought our own). They also repaired the main water shut off valves (they had lousy plumbers so it took a few visits) which would have been far more than the $500 we paid (then drop it after the first year). We bought a house like this. The inspector gave us the worst case situation. We have spent a lot of money but mainly cosmetic. He said the roof had to go but we waited 5 years and it was fine... same with other stuff.
Anonymous
07/04/2014 09:57
Subject: Home inspection clause -- HELP! :(
Water/termite damage can range from very minor to big problem but combined with the boiler/water heater would make me wonder.
Anonymous
07/04/2014 09:53
Subject: Home inspection clause -- HELP! :(
They let the water heater and boiler die and didn't bother to fix them. Is that significant? What does that mean? Who knows.
Anonymous
07/04/2014 09:32
Subject: Home inspection clause -- HELP! :(
My experience is that there are ALWAYS more things wrong than come out in a home inspection.
Remember, an inspector can't see wiring/electrical work or plumbing in walls.
So things like water and termite damage are HUGE red flags, because they indicate that there may be bigger problems (plumbing issues, structural damage).
Your real estate agent should be working for you, so I wouldn't tolerate the rudeness.
I do believe in the state of maryland that even for as-is sales, termite issues HAVE to be resolved. The seller has to resolve them. You should call another real estate agent and ask about that if you are in Maryland. I don't even think that's part of the inspection clause -- it's a separate requirement in itself. And it's an important one.
Other than that, personally, unless I felt certain I knew what caused the water damage, I'd probably walk and not even bother asking for a credit. Because even if you fix what was damaged, you still don't know what caused the damage, and that could be a more complicated issue. So unless it's something like, they overfilled the bathtub or something simple like that, I would be nervous.
The water heater and boiler aren't really big issues. They're big-ticket items, but they're easily replaced. You can get a firm handle on how much they will cost to replace and at least know what you're dealing with. I'd just suck those two things up.
It's the water and termite damage that would make me very worried.
Remember, an inspector can't see wiring/electrical work or plumbing in walls.
So things like water and termite damage are HUGE red flags, because they indicate that there may be bigger problems (plumbing issues, structural damage).
Your real estate agent should be working for you, so I wouldn't tolerate the rudeness.
I do believe in the state of maryland that even for as-is sales, termite issues HAVE to be resolved. The seller has to resolve them. You should call another real estate agent and ask about that if you are in Maryland. I don't even think that's part of the inspection clause -- it's a separate requirement in itself. And it's an important one.
Other than that, personally, unless I felt certain I knew what caused the water damage, I'd probably walk and not even bother asking for a credit. Because even if you fix what was damaged, you still don't know what caused the damage, and that could be a more complicated issue. So unless it's something like, they overfilled the bathtub or something simple like that, I would be nervous.
The water heater and boiler aren't really big issues. They're big-ticket items, but they're easily replaced. You can get a firm handle on how much they will cost to replace and at least know what you're dealing with. I'd just suck those two things up.
It's the water and termite damage that would make me very worried.
Anonymous
07/04/2014 09:32
Subject: Re:Home inspection clause -- HELP! :(
Clearly a buyer beware. If you are not a contractor, do not buy a house that is "as is" Why do you think they listed it that way? Didn't your RE tell you this?
Anonymous
07/04/2014 09:21
Subject: Home inspection clause -- HELP! :(
Anonymous wrote:Anonymous wrote: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!
Define "working order". Define "system". An AC unit can turn on and still not be doing the job.
Not saying that it **should** be defined that way, just that I can see how someone might define it that way.
Anonymous
07/04/2014 09:00
Subject: Home inspection clause -- HELP! :(
Anonymous wrote: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!
Define "working order". Define "system". An AC unit can turn on and still not be doing the job.