Home Buying in Sterling>Question Details

kate123, Home Buyer in Sterling, VA

The property I am trying to buy, close to Cottage Street, came back radon positive, and termite positive, and now it looks like there are also some st

Asked by kate123, Sterling, VA Mon Oct 22, 2012

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6
Hi Kate,

Which contract did you use for your purchase? Was it As-Is?

If it is not an AS-IS sale, and you are using the NVAR regional sales contract, the seller is responsible for doing the repairs for termite/wood-destroying insects. So this is not something you would need to be concerned about.

For radon, did you have a radon contingency? If so, you can ask the seller to install a radon mitigation system, which is very effective in bringing the radon levels well below the "danger" line of 4.0.

Your question is cut off regarding the third issue you were mentioning in your question, so I am not able to address it.

Regarding a credit to cover cost of repairs - it is not usually done by % of sales price. It is usually done based on cost of repairs. So you would figure out the cost of the termite treatment (should have been part of the report), and the radon mitigation system (in the range of $2000 from what I understand) and the third issue. All of that added together is the amount of credit or price reduction you should request if the seller is not repairing.

Feel free to call me if you would like to discuss.

Thanks,
Sonal
0 votes Thank Flag Link Mon Oct 22, 2012
Kate,

I am assuming that you are not being represented by an agent? If you are please address these questions with your real estate agent. Your agent is a huge resource for you and should be able to guide you thru the process. If you do not have an agent mr miller's advise is great. But also feel free to give me a call if you should have any specific questions that I may be able to assist with as I am in your local area. Text or call 703.596.2035.

Also I have include a link to the EPA site about what to do with a positive random test. Hope it is helpful. http://www.epa.gov/radon/pubs/hmbyguid.html.
Best wishes,
Stephanie Hardman
0 votes Thank Flag Link Mon Oct 22, 2012
The way you have worded the question, (and your follow-up), you give the impression that you are trying to do this yourself:
Why aren't you using a Realtor to protect your rights?
Does that mean that you do not have an Inspection Contingency?
If you don't have an Inspection Contingency you do have any leverage to force the Seller to do anything; and if you try to back out, the Seller can either force you to buy, or keep your Deposit.
What does your Contract say regarding REPAIRS?

Good luck and may God bless
0 votes Thank Flag Link Mon Oct 22, 2012
the seller is contingent upon inspection. I just got the feeling that they need to sell quick, and dont want to deal with repairs because that delays them. My question is mostly can i do it myself, and how much all the negative findings affect the house value. my Realtor, unfortunately is not helping at all in all this. All i get as an answer is its your decision, how bad you want the house.
Flag Mon Oct 22, 2012
Do you have a binding agreement in place yet? If so, then you should have an inspection clause. You can have a contractor estimate the repairs and ask the Seller to make the repairs or negotiate a reduction in purchase price so that you can make the repairs after closing. Make sure to check with your lender to ensure that they will make the loan on the property without repairs, because they might not. If you don't have a binding agreement in place yet, then the question would be was the house priced knowing that there were issues, or not? Also, you should compare the value of this property to others that are available that meet your needs. That will help you know if it is priced correctly or not.
0 votes Thank Flag Link Mon Oct 22, 2012
The seller didnt know about all the issues, at least he claims he didnt. I have 2 days to walk away.. The estimates so far are at 9% of the house value..
I have the reports. I just dont know how bad all this will impact the value of the house. Can i even resale it later?
Flag Mon Oct 22, 2012
ye, my question is, i guess, How would that affect the price? If i decide i want to deal with all that fix up.. what can i expect from the seller in terms of price reduction... 5%, 10% ?
Thank you
0 votes Thank Flag Link Mon Oct 22, 2012
Kate - I believe you would be better served via a phone discussion? Too many variables, frankly, to answer that question and not have it be a complete and total guess. However a 5 minute discussion may prove helpful; I would suggest that discussion with any agent who has posted above or with me. Unfortunately it seems your agent may not be providing a solid level of service.

If you'd like to talk to help answer some of these questions/concerns, please feel free to give me a call at 703-627-2167.

Best regards,

Matt Elliott
Keller Williams
MattE@kw.com
Flag Tue Oct 23, 2012
taking in consideration the high radon level and structural damage..
Flag Mon Oct 22, 2012
I am not seeing your complete question. Can I help?
0 votes Thank Flag Link Mon Oct 22, 2012
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