Home Buying in Pennsylvania>Question Details

Upset, Home Buyer in Pennsylvania

We entered an agreement for a home. After the home inspection we found out there were several issues with the

Asked by Upset, Pennsylvania Mon Jan 28, 2008

home that were not in the seller disclosure, alot of hidden issues. How can we get out of the agreement?

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Answers

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Depending on what option you selected in the Property Inspection contingency, it shouldn't be too much of an issue to terminate the agreement. Ask your buyer's agent to review that clause in the agreement to determine your course of action.
0 votes Thank Flag Link Tue Jan 29, 2008
What you need to do is sit down with your buyer's agent and go through the home inspection line by line. You will also need to have a copy of your sales agreement. If you walk away at this time you run the risk of losing your deposit monies...why you ask especially if the seller didn't discloure everything on the disclosure. It doesn't matter. The disclosure is to be filled out by the seller to the best of their knowledge. Could it be that they weren't aware of these item? Don't get me wrong, they are seller's who will intentionally omit items on purpose but thank goodness you had a home inspection. Again, go through each item in the home inspection. With your agent, put a list together with a corrective proposal and submit it to the listing agent within the time frame agreed upon on in the sales contract. Depending on how you negociated the inspections for example if you agreed to the first $500 in repairs you can only ask the seller to address the amount above $500. Present to them your list and see what happens. If they say no, then again after meeting your requirements per the contract, you can then walk away. I hope this helps. Good luck and let me know how things work out. If you have any other questions please feel free to ask again.
0 votes Thank Flag Link Mon Jan 28, 2008
Hello upset. I can understand that you would be upset with this kind of surprise, however, I need to ask whether you negotiated this agreement through a real estate agent, or by yourself without an agent? If you negotiated the agreement through an agent, then the RE contract will specify the terms of WHAT will happen as a result of 'surprises' found during inspections. If, on the other hand, you tried to do this on your own and did not have a 'contingent' clause in your contract dealing with inspection surprises, it's difficult to predict what will happen to your agreement. For expert advice on this kind of question, check with your local attorney. Good luck!
0 votes Thank Flag Link Mon Jan 28, 2008
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