the best view : there is the idea of shared exposure between the parties gaining
financially from the sale. To the bank $ 1500.00 credit sounds like chiseling, to the insurance
company (if any) what,s at issue is value minus deductable-minus depreciation- no real help!
the seller is at this point reduced to an "owner of record " without a lot of resources.
All this said my advice is to get with your Realtor suggest hhe idea of a " shared remedy"
After all you can't live in a house without facilities In many places it's not evenl legal. So
You,the Realtors involved and the bank ,even the seller all have a stake in closing. "Pass the
hat around a little further! $250.00 a piece sounds like a possibility!
Better to resolve this now ! Canvass the players - Good luck
BOB BRUBAKER HIGHLIGHT REALTY PALM BEACH COUNTY FL. 561-876-6649
BOB BRUBAKER TREALTYP BEACH
If that doesn't work you are still buying a home at what is probably a great price. So, think out over the long term and the years you & your family will enjoy in this property.. . and don't let the cost of a new stove stand in your way.
JOAN LORBERBAUM MOORE
Broker Associate, GRI
9858 Clint Moore Road
Boca Raton, FL 33496
I am a buyer's agent, and in my experiences on short sales where we discover something that is crucial and the bank won't budge, we have usually been able to contribute four ways between the two agents and the buyer and seller to come up with an acceptable amount toward resolving the issue. In this case, a standard stove costs about $600. If each party pitched in $150, that would at least help you to get a new stove. Maybe the two agents would push the bank a little harder and fight for what is right for you!!! I would insist that somebody help you out here. Good luck!
Oh the joys of a short sale. These transactions can yield a good bargain if the buyer is patient, negotiates a lower than market value price with the seller and also receives a good valuation by the banks agents. However they are full of pitfalls as you are experiencing. Your best bet is to hope the negotiator for the bank allows some sort of credit but do not count on it. It is too bad that you have spent money on the home but that is why any buyer should wait until escrow closes before investing anything into the home. Many of these deals fall through for a variety of reasons and I wish you the best of luck moving forward.
If you have a favorable price on the property it may be in your best interest to move forward no matter what the bank may ultimately offer especially since you have invested funds into the property. I hope this information is helpful but if you need anything additional please do not hesitate to give me a call.
Always at Your Service,
Tom Priester e-PRO
"Results Driven Real Estate"
Keller Williams Realty
I'm sorry to hear this happened to you at the last minute. Buying a foreclosure or short sale can be very frustrating and they do cost money to bring back to life - that's why the price is discounted. Good luck!