Karen, Home Buyer in 10023

I've had an inspection, and I have to decide which problems I should ask the seller to pay for. What is typical?

Asked by Karen, 10023 Mon Apr 16, 2012

In addition to one major safety issue that I am planning to ask for repair, there is also safety risk issue with furnace CO2 getting into the air ducts, and a plumbing backwash risk.
Also, There are basement cracks and water seepage (recommendation is to replace DOA gutters and regrade property before more drastic measures), and improperly installed siding resulting in door/window leaks, while asbestos tile crumbles underneath; warping siding further.

I am guessing what is not something one would ask for is: replacement, repair, or servicing of items to make them usable (even if at or way past life cycle?) such as appliances and windows.

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As a buyers agent I always consider all of the circumstances of the property for my client and then make suggestions based on that. Consult your agent, If they are experienced they will know what to advise and the best options for you. I have found that it never, ever hurts to ask for repairs no matter what type of property. I have had sellers make repairs on REO's, short sales, and of course regular sales. Also, if repairs aren't doable then I have negotiated better pricing for my client or seller paid buyers closing costs. I have also negotiated escrow hold backs for repairs. You need to consider the "deal" you are or aren't getting and the feasibilty of the seller making the repairs. A good agent will steer you in the best direction and layout all your options so you can make a wise decision. Sometimes the property is such a great deal or just flat out desirable that you just need to take it "as is"!
1 vote Thank Flag Link Mon Apr 16, 2012
I would consult your attorney if its a private sale..if you have an agent talk it over with them.There are certain things that may affect your ability to obtain a mortgage such as leaks,with that said its a buyers market which gives you negotiating power..good luck!
1 vote Thank Flag Link Mon Apr 16, 2012
The question can best be answered by your agent, therefore consider a consultation. Is the property a short sale, bank owned, sold as is, is the property already priced to reflect any repairsetc., generally the seller needs to fix any safety related issues and any permit issues; again chat with your agent...
1 vote Thank Flag Link Mon Apr 16, 2012
Difficult to say. There are many factors that need to be considered when trying to decide what to ask for or not. I would strongly suggest you speak to your Realtor and attorney and ask for their advice. Thy have the experience and knowledge on this particular transaction over any of us here on Trulia.

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Javier Meneses
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0 votes Thank Flag Link Sun Dec 29, 2013
If you are the buyer who is bringing the money, you can ask for anything and everything. I would suggest that you do, within reason. As a Licensed Sales Agent in the Hamptons, I have seen requests that were unimaginable.

"If you are not willing to walk away from a deal, you will never get the right deal!"

Amy Beth Stern
0 votes Thank Flag Link Thu Nov 14, 2013
Karen:

This is quite a list. There are many substantive repairs and remediations that you are going to have to deal with. For the most part it sounds like you have an offer and an acceptance on this house purchase, unless you did an inspection before making an offer to purchase. Either way your first option is to back out of the deal, after that, you should understand that the seller has very little obligation to effect the corrections of these defects. At present there is the right of not disclosing property condition to purchasers for what amounts to be a five hundred dollar credit to the buyer. Substantive defects are required to be disclosed by agents of the seller in most instances. I think a health hazard falls into the catagory of substantive.

If this is the house that you want to buy, there seems to be substantive issues that need resolution. The question is to find out the costs to you for all the repairs and seek a sales price adjustment from the seller which might cover your costs of repair. If you come to an adjustment for less than the cost you will have to just calculate those repairs as part of your purchase price. However, It is better for you to make the repairs after you close than to make those repairs as condition to closing for there might be some methods taken by the seller that you would do different. The seller is only concerned up until the closing, you on the other hand will be there after the seller is gone. Now, one last thought, the lender may step in and set conditions to make repair before a closing can take place. So, best to try to nergotiate an adjustment and identify any conditions that would make a lender rescind their intent to provide the mortgage.

Michael Albert Real Estate
0 votes Thank Flag Link Mon Apr 16, 2012
Safety issues must be addressed by the seller if they are critical. Otherwise, everything is subject to negotiation. A lot will depend on the price that you negotiated. Perhaps the seller took into account that the house needed some work, and therefore already built it into the price. You can always propose some type of consideration on the part of the seller, and see how they respond.
0 votes Thank Flag Link Mon Apr 16, 2012
Sellers are only required to deal with safety and environmental issues.

There is mo perfect house, including new construction.

Inspections are meant to prepare you for issues you may need to contend with upon purchase, not for renegotiation of price or repairs.
0 votes Thank Flag Link Mon Apr 16, 2012
Sellers are only required to deal with safety and environmental issues.

There is mo perfect house, including new construction.

Inspections are meant to prepare you for issues you may need to contend with upon purchase, not for renegotiation of price or repairs.
0 votes Thank Flag Link Mon Apr 16, 2012
From your description; I would bet that you are describing a Foreclosed (REO) house:

On that assumption; you probably have seen the catch-phrase "AS-IS" which the Banks use a lot.
Sometimes, we can get the Bank to make SCHEDULE 1 repairs, which are safety/habitability issues; like mold, termite infestation, roof leak, etc.
But the Banks will refuse to put any more money into the "PIT".

They will price the house to reflect the work it needs: Do not think that the house is worth the LISTING PRICE minus the repairs and upgrades; the bank knows what work is needed.

Have your Realtor do a good CMA to determine the Market Value which should take the Condition into consideration.

Good luck and may God bless
0 votes Thank Flag Link Mon Apr 16, 2012
:D Nope, actually it was described as Mint++ and "move right in". It LOOKS mint to the untrained eye.
Flag Mon Apr 16, 2012
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