Home Buying in Memphis>Question Details

Cv-tn, Home Buyer in Memphis, TN

Inspection repairs not completed

Asked by Cv-tn, Memphis, TN Tue Aug 11, 2009

We put in an offer for a home which was accepted with an inspection contingency; we did this and requested repairs be made and the sellers agreed to do (per our agent); it is now one week before closing and the repairs have not been done and we won't have time to have a re-inspection or final wald-through before closing - do we have the right to walk away at this point?

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In Tennessee, if your agent is using the Tennessee Association of REALTORS legal contracts and forms (which most do), you must sign an inspection contingency release form. This would have been done within the inspection contingency section contract on Line 222. There are no verbal agreements.

Also, on the contract, it does specify walkthrough time on Line 254. In 75% of my buyer and seller transactions the repairs are not made the week before either; so, honestly, I wouldn't freak out. I would schedule my walkthrough 2 or 3 days before closing with the inspector. If the repairs are not made that were agreed to in writing, then I'd get a contract extension signed immediately by everyone.
2 votes Thank Flag Link Tue Aug 11, 2009
Good Morning,

I agree that you should speak to your agent/attorney, it is not unusual for the repairs to be done late, please make sure you do a final walk through though, it is very important!
If you truly want the home then you can always delay the closing until the repairs are complete....GOOD LUCK!!
0 votes Thank Flag Link Wed Aug 12, 2009
No one can render an opinion based on executed sales offer which governs all, Contact your buyers agent who can detail terms and conditions of agreement.

You need an amendment for inspection agreed by buyer and seller.

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Lynn911
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0 votes Thank Flag Link Tue Aug 11, 2009
First....it is not advisable to "close" without a final walk-through. Doing so may qualify you as a "victem."
If you don't do a walk through how would you determine if the repairs have been made?

On the contractual repair issue, it would be advisable to consult an attorney for their input.

Good luck
0 votes Thank Flag Link Tue Aug 11, 2009
Hi CV,

Brian's answer is right on the money. However, without seeing your purchase agreement, I don't know what was agreed upon regarding the number of days prior to closing for your final walk through. If you and your agent filled in the blank space with 1 day prior - then the seller is taking that as he has all the way up until then.

Some repairs are beyond the seller's control, such as windows that may need to be ordered. Before you get yourself in serious trouble due to the stress this may be causing you - contact an attorney. I am afraid as a Realtor, I cannot give you advice on breaking a contract (violation of our code of ethics).

I do understand your frustrations regarding the opportunity in doing a final walk through, perhaps you can deligate a trusted friend who's schedule may permit. If the repairs are not done - then your agent needs to address them in writing prior to closing.

Best wishes,

Jo Shaner
Web Reference: http://www.lipseyshaner.com
0 votes Thank Flag Link Tue Aug 11, 2009
Your agent should have provided you a copy of the "Buyer Inspection Contingency Removal / Notification" (or comparable form) Once inspection had been completed and you have reviewed and determined the items that you as a buyer are "requesting" that the seller repair or update your agent should present these requests in writing with your signature to the sellers agent. All this is is determined by the terms that are in your contract. They (the seller) will then decide and inform you (also in writing) as to whether they agree to make the repairs as requested. Process may vary in Memphis as to forms used but all terms of sales contract hould be in writing. Whether or not you can walk away at this point would best be answered by a legal counsel.
Web Reference: http://www.brendajolly.net
0 votes Thank Flag Link Tue Aug 11, 2009
Did the sellers acknowledge your inspection report? Did they agree to fix any problems found? If so, I would simply tell your agent that you are not closing unless the items are taken care of. Stick to your guns! Get an extension if needed.

Good Luck!
Web Reference: http://www.abemills.com
0 votes Thank Flag Link Tue Aug 11, 2009
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