Home Buying in 08055>Question Details

Mary, Home Buyer in Marlton, NJ

Had an inspection done on a home, in NJ. Defects-the siding, roof and windows need to be replaced. What kind of credits" should we ask for.?

Asked by Mary, Marlton, NJ Tue Jan 21, 2014

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Hi Mary

The standard contract in New Jersey says the structure , siding.roof, & windows including (seals) be in good condition for a system of its age without being deficient. unless you bought this home in as-is condition. They should offer to replace these items. You can't get a credit for repairs on the contract. Typically lenders don't want or allow a repair credit. You can get a credit toward closing costs or get estimates from the vendors who you want to do the work and put their bills on the HUD or settlement sheet to be paid by the seller. Get 2 or 3 estimates so you can be fair to the seller and yourself. Your agent can help you with vendors who are honest and fair . We all have contractors we can recommend who have helped our clients over the years. Good luck!
Ginny Don
Weichert Realtors
Medford, N>J
0 votes Thank Flag Link Tue Jan 21, 2014
Thanks so much for the advice Ginny.
What is considered good condition for windows? That they open and close.
The house is roughly 50 years old and has not been maintened by the seller (resident of the home for 9 years) the sills are rotted, some panes broken, no locks...to name a few
Flag Tue Jan 21, 2014
Ginny - thanks so much for the advise. The house is in as you say in Jersey "your neck of the woods"
Flag Tue Jan 21, 2014
Were the ages and/or condition of these items listed on the seller's disclosure?

Quite truthfully, no one here could, or should, tell you what the seller should do in regard to these items, as no one here read the inspector's report or saw the home!
There are a lot of ways to phrase things in a report. Each inspector has his or her own style.

However, home inspectors have somewhat standard verbiage they use when an item is "aged".......they usually state it is "beyond its life expectancy"....and suggest planning for "replacement" in the future....or calling in a specialist for a second opinion.

A roof is one example of the "should it be replaced now, or can it last a few more years" issue.
It may be old, but is there evidence of current leaking? Is the sheathing rotted or just old? Are shingles cracked and missing, or just old looking?

Old windows...if they were disclosed...unless they are full of wood rot and won't open and close, are another one of those questionable items............ many sellers will not offer to replace them.....or at least not replace all of them - only those that exhibit specific problems.

Not sure what is wrong with the siding other than being old.....is it buckling? has water gotten behind it and caused mold to form? Without specific, identifiable issues, most sellers will not deal with that, either.

I suggest you get your own estimates......then see what it will cost....in lieu of a credit at closing, the selling price could always be reduced to accommodate the repairs.

I am going to hope - and guess- that the price you are paying for the home reflects the fact that it is older and in need of updating. Keep that in mind.

Best wishes...........
2 votes Thank Flag Link Tue Jan 21, 2014
Read this.... http://hometeamnj.com/home-inspection-repairs/

I have found that what "NEEDS" to be done is different when it's on the seller's dime.... once a buyer owns the house and they have to spend thier own money, some "needed" repair items are not such a big deal and never get done.

Joe Montenigro, REMAX Preferred
Broker Associate, GRI (856) 589-4848 x2106
serving Washington Twp, Gloucester Twp and South Jersey
Read me: http://hometeamNJ.com/blog
1 vote Thank Flag Link Tue Jan 21, 2014
I agree with you......had buyers negotiate a $3000 credit towards a new roof ....... they moved in and never replaced it!
Flag Tue Jan 21, 2014
Mary, there is only one question that needs an answer here. What is the house worth to you. You decided on an amount in order to make your offer. Now you have a repair cost that is sooner than later. What is the repair worth to you, as it reflects on your value of the property. If you have to have this house at all costs, then the needed repairs are meaningless. If the offer you made was the maximum value you place on this house, then you need a credit for 100%, IF your mortgage company will allow closing, in it's present condition. If it must be repaired prior to closing, then 100% of the repairs must be done in a manner acceptable to you. To clarify, if the repairs are done in a sloppy manner, then you are back to negotiating a credit or acceptance or walking away. It always comes down to what each side will accept. This is a negotiation dance with each side maneuvering back and forth until the deal is final. And that can even be long after the close.
1 vote Thank Flag Link Tue Jan 21, 2014
Hi Mary, Usually estimates are gotten from reputable contractors to do the repairs/replacements to determine a fair value for the credit. If more than one estimate is done for a particular repair use the average of the two (or three) to arrive at a dollar amount. Make sure to ask your loan representative about how a credit should be handled as it may affect your mortgage approval if not done according to the guidelines for the mortgage product you are using. Of course if your paying cash there is no issue. Steve Treitel, RE/MAX Infinity Top Achievers
1 vote Thank Flag Link Tue Jan 21, 2014
Sort of depends on what really needs replacing and what really does not and what condition the issues are in. It is easy for a roofer to tell you that you need a new roof, but unless it is leaking it is doing its job. Same with a window. Does the seller have the condition of the house figured into their asking price? If so you might not need to ask for any reductions.
1 vote Thank Flag Link Tue Jan 21, 2014
Good point Tim. And No Mary, the seller disclosure is not inextrictable from a sellers pricing strategy and I don't believe you can rely on the disclosure to justify your opposing argument on the price.
Flag Tue Jan 21, 2014
It was the inspector who said we need a new roof, not a roofer. Also if these issues were figured into the asking price, shouldn't they have been listed on the disclosure? Thanks for your advise!
Flag Tue Jan 21, 2014
You have likely cleared this matter and are happily living in your home by now. But the question is timeless and so I will chime in since it has risen to the top of the heap....

With inspection repairs, you have the right to ask, the seller the right to respond. The inspection contingency protects you - and the seller - if an agreement can't be reached.

In terms of requesting credits for agreed upon repairs, an estimate is the best way to go. As with most things, numbers that are based on facts from a reputable source have a much higher likelihood of success than those that are plucked from the sky.

Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Wed Sep 17, 2014
Best bet is to sit down with your agent and see what they would recommend.

Samuel Rifkin
Web Reference: http://www.SamSellsNJ.com
0 votes Thank Flag Link Tue Jan 28, 2014
It always goes back to what's in the contract. The answer would depend on how you purchased wheter as-is or subject to. Traditionally, you would request the seller address certain repairs, i.e. heating, plumbing, electric, structural and the seller would then have a period of time to respond to your requests.

If you are working with a buyer's agent this is in no way meant to interfere with that relationship so it would be best to seek the advice of your agent.
0 votes Thank Flag Link Wed Jan 22, 2014
PS - Thought I should add - this house has been on the market since Aug 2013 - with no offers
0 votes Thank Flag Link Tue Jan 21, 2014
So, Mary what does your agent think? Did you pick someone experienced that you have some confidence in?

The description is vague at best.
Why do the windows need to be replaced? How old is the house?
Is the roof leaking and due to be replaced because of over all condition?
How big is the roof and would would total replacement cost?

What kind of siding is it and what kind of defects does it have?
You really need to read the home inspection provision of your contract closely. If it is the standard contract for the area probably section 23 is the home inspection provision. Do the defects found fit the provisions that will let you ask for repairs/credits?

If you kill this deal - going forward always have a plan B. IE another potential house so you don't feel trapped.

Good luck. (If you have an agent the agent should be your information source here.)
0 votes Thank Flag Link Tue Jan 21, 2014
Thank you Paul
We are new to the area and I guess we kind of had to throw a dart when it came to choosing an agent. All I'm getting from the agent (via texts after they received a copy of the inspection) is "What are your thoughts" very disappointed. This is the time an agent needs to step up to the plate and do more than meet me at a house (which I found) and show it.
Enough of my ranting... the house is roughly 50 years old. The inspector said the house is very well built but has not been maintained.
We also found that section 23 is detriment to this deal.
Flag Tue Jan 21, 2014
Ask your agent - unless you made the mistake of using an agent working for the listing company.
0 votes Thank Flag Link Tue Jan 21, 2014
No, we're not working with the listing agent. Wondering if there is a typical percentage. I've read other blogs where they say these are major items and should ask for 100% credit or 50% if everything is done before closing
Flag Tue Jan 21, 2014
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