You got yourself into a bad situation. Unfortunately your inspector did not do a great job to inform you about the details of the property you are buying. My advice is to get the best advice possible for your situation which needs to come from an attorney. Real Estate Agents are not legal expert and many agents, even though their intention is to help, can do more harm than good by not referring their customers to the real experts.
Good luck, Oliver.
As to what your seller did and did not know, and any remedies related thereto, only a qualified real estate attorney in your city may properly answer that question for you with any reliability. You should contact one immediately.
Jack Gillis, M.B.A., J.D.
Jack Gillis Realty Advisors
Nathan Grace Real Estate, Broker
5619 Dyer Street | Suite 100
Dallas, TX 75206
As described, it doesn't appear that the seller lied about the fact that the heating system was an electric based system.....IF, the hot water heater was an electric hot water heater, since the heat was being generated by the water heater.
The fact that this is a code violation is likely another matter....if the seller in fact knew that this was a code violation you may have an issue. However, the problem becomes one of proving the sellers knew and withheld this information.
Proceed by collecting accurate and provable information that supports your claim. Then consult an attorney with this evidence.
Most reasonable and innocent of wrong doing people would want to do what they could to make it right when presented with these details. It would be most interesting to hear their explanation of the heat being generated by the hot water heater.
Your solution may be as simple as making the seller aware of the situation.
Sorry to hear you are having such a bad time with this. Call Tom Van Dam, Esq. 201-664-0868 in Westwood for legal advice on how to proceed. Tell him I referred you. Good luck with this.
Prominent Property Sothebys
First Time Home Buyer, depending on your contractual agreement, which we are not privy to, you may or may not have a claim against the seller. It sounds like to me, based on your description, you agreed to close with escrow being held for the item that was not functioning on the day of closing. In which case, the seller is obligated to fix, repair or replace heating system in order to receive his/her escrow.
When you make a repair to an item that does not meet code, you will have to replace system with one that will. The seller may have lived with something not being to up to code because he or she was not aware of the code changes. It happens more often than not.
The real question for me if I was in your situation is do you have enough money in escrow to motivate the seller to repair, replace heating system accordingly? Or if you find that the escrow amount is sufficient, you may just want to hire a contractor to make repair, replace the system that bring it to code and draw from the escrow. This way you hire the contractor you want.
I hope that helps.
Sorry you ran into this problem. But this type of stuff happens and unfortunately sometimes it's a by-product of professionals not doing top notch work. I would approach your home inspection company and ask why they didn't catch the deficiency.
I am curious as to why you would proceed with closing if there was an outstanding defect that had not been addressed? If closing on the home superseded requiring the seller to perform repairs then you should pay for repairs as the new owner.
At this point you have no leverage over the seller because you are now the owner.
Does this look to be the case?