BEST ANSWER
FIRST ANSWER
Stephanie:
What the Seller will or will not do is specified in the purchase agreement including termite inspection and other repairs. What does your contract say? You are wondering whether $1800 of termite repairs is a red flag. The right person(s) to address this question would be to a general contractor and the termite company itself, for which the individual(s) would have to take a look at the property's condition, age, and type of damage before offering comments.
Properties are sold "as is" or "as disclosed." The seller does not have to undertake repairs unless your contract specifically deals with repairs. Whether your insurer will require those tiles to be replaced or not as a condition of the insurance, should be addressed only to the insurer.
In the California Association of Realtor's Winforms, there is a document called "Request for Repairs." Based on your inspections, you request for repairs and the seller has the option of agreeing to it by carrying them out either completely or partially, giving you a credit in escrow for the repairs, or denying your request. Based on the seller's response you have to decide whether to proceed with the transaction or not.
I will be very surprised if any individual who has only a real estate license can answer your question as to the costs of repairs and the advisability on whether you should stay in escrow or not.
What about your agent? Hasn't your agent advised you to get a specialist opinion? If not, do so now so that you get competent and professional advice on the repairs. The decision to stay in escrow, however, is entirely yours based on the information you receive.
Bob Khalsa
Broker
United America Realty
661-513-4433
Sat Aug 8 2009, 08:38