Also curling, cracking of shingles indicates they are at the end of their useful life. The key is that you must negotiate the change during the time the home inspection rider is in effect. Or you can provide written notice that you are exercising your right under the "subject to inspection " clause to cancel the contract. That must be done in writing, citing the clause and wording in the contract, and within the time allowed. Then if you are still interested in buying the home at an adjusted price you must be sure to do it by writing a new contract. If you amend the old contract, after serving notice of canceling it, or beyond the time limit stated in the contract for the inspection clause, you make that clause invalid. If you then find you can't get the loan amount you want due to the condition of the property, you might be stuck having to buy the home anyway. Remember the financing contingency time is still running, and the seller and Realtor may try to stall so that you keep negotiating beyond the time limits and you can't get out of the contract even if you can't get the loan amount you entered in the contract. That is why they write TIME IS OF THE ESSENCE.
I, as a Realtor, have a hard time with visible defects and when we write an offer on the home and we take that into consideration then ask for a credit at closing "after" the home inspection, that's double dipping.
Licensed Associate Broker
Accredited Buyer Representative
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William Raveis Legends Realty Group
If you love the house but can't get the Seller to pay for a new roof since they don't have the funds to put on a new roof, this might be a way to go for you.
I have a blog about 203k loans and what they can do for you.
I hope it works out!
You can ask for whatever you'd like. Whether you get it......? If the inspection shows it as a concern, I would definately see if you could get an allowance of some sort. It may not leak now, but 2 weeks after you close is another story. Just make sure it goes into the Contract if you get it.
I can understand your concern here. Without knowing all of the details of your contract, whether the house is being sold "as-is", etc. it is hard to say for sure how you should proceed but I would recommend reviewing your contract and the wording on the inspection amendment and discussing further with your agent. In some cases you can ask for repairs, but the seller may not be obligated to agree to them.
The realtor's explanation is correct....however, you can always ask for anything. Then it's up to the other party whether or not they will conform.
The fact that the rood is not leaking but is at the end of its life expectancy could be a basis for a credit sine you were not aware of this until the inspection. No harm in asking.........right?
Perhaps your agent feels that the price is a fair price with the condition of the roof. If you are wanting to ask for a credit, you can only ask for a closing cost credit or renegotiate the sales price.
Ultimately, you can ask for either of those things which you and your agent need to decide if it is worth pursuing. Talk with your agent further and if you want to go forward with that, they need to do what you want.
You can ask for anything you want! Now, as far as what the chances are of getting what you ask for go....well that would all depend on your specific transaction. If you have a competent realtor, he/she should be able to inform you better than I could with the limited information we have.
I typically encourage my clients to ask for a credit/repair because you never really know what will happen. And in most cases the buyer has nothing to lose by asking.
If the house is as is - then you can still ask - but they will likely not do anything. You need to decide how much it is worth to you - warts and all - and how good a deal you have now.