Home Buying in Fort Myers>Question Details

Barbkoe4448, Home Buyer in Estero, FL

Purchasing a home, roof needs replacement due to rotten boards and leaks, whose responsibility is it to replace? Sellers or purchasers?

Asked by Barbkoe4448, Estero, FL Thu Aug 9, 2012

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Answers

15
Congrats on getting it worked out. You are correct...As Is contracts are extremely common here.
0 votes Thank Flag Link Sat Aug 18, 2012
Thank you. Can't wait to close and do some more updating. Real estate is a whole different ball game here in Florida...will be hopefully be getting licensed here next year.
Flag Sat Aug 18, 2012
Realtor and as is contract. We did negotiate to get a little over half paid. They will replace prior to closing. So worked out. Thanks for all of the advice. I am a MI realtor and we dont use as ia contacts. Seems common in Florida. Hopefully start on roof next week.
0 votes Thank Flag Link Wed Aug 15, 2012
We use statewide forms here vs MI where each office has some variation. I started my RE career in SE Michigan over 10 years ago - it's very different between here and there for sure!
Flag Wed Aug 15, 2012
Depends on the Type of contract you signed.
If it was an AS-IS contact then you are purchasing it with all its problems. However, the seller may be willing to negotiate the price down to cover part of the repairs.
IF it was not an AS-IS, read your contract to see the extent of the repairs allowed.
Talk to your Realtor. That is who should really be helping you to navigate through the process.
Good Luck!
0 votes Thank Flag Link Sat Aug 11, 2012
As has been indicated, if an "As Is', with the right of inspection, you can negotiate the cost or walk away if the seller fails to negotiate.
Regards,
Ed Humbert, GRI,MBA
Advanta Realty, LLC
239-464-9855
ehumbert@advantarealty.com
0 votes Thank Flag Link Fri Aug 10, 2012
Barb,

Are you working with an agent? This really falls within their domain of questions. The answer to your question depends on additional information that depends on the type of sale the property represents. If the sale is an "AS IS" sale the buyer will be purchasing the property with its flaws.

Additional information would be necessary to be able to provide you with an accurate answer.

Before commiting to this opportunity it would be recommended that you consult a roofing contractor to get clarity on the extent and cost for the needed work.

Good luck,

Bill
0 votes Thank Flag Link Fri Aug 10, 2012
Good answers already.

The basic answer is: It's negotiable. Except, as noted below, if it's a foreclosure the bank won't negotiate. But it's whatever you can get the seller to agree to.
0 votes Thank Flag Link Fri Aug 10, 2012
Don Tepper, Real Estate Pro in Fairfax, VA
MVP'08
Contact
IF the price is reflective of the condition AND the home is sold 'As-Is" YOU will be responsible for the repairs needed.

There are many options available depending on your situation and the status of the home.
You really need to consult your real estate professional regarding your options.

This could be an opportunity to hit a grand slam.

Best of success to you.
0 votes Thank Flag Link Fri Aug 10, 2012
As the buyer, you may request the sellers have the roof repaired under the terms of your contract. They can only give you one of three answers: We'll do it, we won't do anything, or we'll meet you somewhere in the middle. Once you've got your answer it's up to you to decide whether to accept it or terminate your offer as provided fro in your contract. You should be speaking with your buyer broker. If you foolishly allowed their agent to also be your agent, you can speak with them but frankly I wouldn't waste my time as they've already shown their more interested in themselves and the commission than in actually representing your or the sellers best interests. If this is the case I'd speak to an attorney if you're unclear what the contract permits.
0 votes Thank Flag Link Fri Aug 10, 2012
This are the likely answers:

If the offer is As-Is the seller has no intentions on making any repairs, so you fix.
If you are buying a short-sale, neither seller or bank will have any money for repairs, you fix.
Foreclosure, you may be able to negotiate small repairs, specially if it is a goverment owned, otherwise negotiate price down.
Buying from a seller on a traditional resale contract, they already stipulate how much repair $$ they are willing to contribute for the sale.

If you did an inspection you also have the right to back out of the contract based on the inspection contingency clause that should be part of every contract.

Tony Vega
La Rosa Realty
0 votes Thank Flag Link Fri Aug 10, 2012
Some options:

1. ask the realtors to do a Realtor Rebate to pay for it

2. ask for an increase in rates to get a lender credit so you'll need less money to close to have the money after closing to repair

3. ask the seller to fix

4. you fix
0 votes Thank Flag Link Fri Aug 10, 2012
Why do you think that they should ask for a "Realtor Rebate"? Instead...they should ask for for a fee reduction from the closing fees you charge.
Flag Sun Aug 12, 2012
Is your contract the standard or as is? If you are getting a loan, your lender may require it be replaced. At that point it becomes a negotiating issue. Your agent should be advising you.
0 votes Thank Flag Link Thu Aug 9, 2012
I would consult with your agent......of course if I am going to represent you I will help in any way possible. Let me know if I can represent you.

jessemcgreevy@gmail.com
239-898-5329
http://www.Bonita-Estero-RealEstate.com
0 votes Thank Flag Link Thu Aug 9, 2012
If it's....

A foreclosure - you
A short sale - you
Traditional sale on as is contract - you

Talk to your agent. They're being paid to advise you on your purchase & all the details that pertain specifically to it.
0 votes Thank Flag Link Thu Aug 9, 2012
The responsibility lies with whomever the offer and sales contract says it does- in other words, it's negotiable. Your agent and your home inspector should be able to assess the cost of this and any other repairs the property may need, and take those into account when negotiating the purchase. One exception to such work being negotiable is when a seller has specifically described the property as "As-is". In that case, any negotiation would likely be strictly related to the purchase price, as such sellers have stated their intention not to make any repairs. This is common with lender-owned (foreclosed) properties.
0 votes Thank Flag Link Thu Aug 9, 2012
Based on your question; I will assume some things;
You are under Contract,
You are working without a Realtor to protect and advise you,
You did not include a Contingency for Inspections,
You assumed that just doing Inspections would cover you,

My opinion; you just bought a house with a bad roof.

Good luck and may God bless
0 votes Thank Flag Link Thu Aug 9, 2012
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