Lexie Longstreet

You are doing the right thing. The NC Real Estate Offer to Purchase and Contract has certain steps laid out that you must follow ... in order to get out of the contract and get your money back. Most sellers realize that if you don't want to buy the house.... they will be in for a fight and move on.

According to the contract you have the right to ask for repairs per the contract: items that are in need of immediate repair or not serving the purpose for which intended. So if the toilet is running, you can ask they fix it but you can't ask them to replace the toilet. You can't ask for new appliances just because they are old. If the roof is leaking and it has damaged a beam, you can ask them to fix it. If they refuse then you can get out of the contract. But if they say they will fix it... then you must go through with the contract. Because you have a $2000 Cost of Repair Contingency, if the repairs exceed a reasonable estimate by a contractor then you can also get out of the contract. The sellers have a right to get estimates, and so do you. Most of the repairs you mentioned could be fixed for a reasonable amount of money... and you can have the repairs re-inspected to make sure they are done to your satisfaction. (with the exception of the attic, which could be a problem for the seller if it was done recently)

Go thru the process, get your estimates. Look at their estimates, and you may change your mind and decide you do want the first home. I would not go making an offer on another home unless you use Alternative 2 - in the inspection clause. That way you can get out for any reason or NO REASON.
Good luck. - Fri Dec 18 2009, 16:40