How do I handle a potential purchase of a house with some defective stucco readings?

Asked by Kim.tozzi, 19342 Sat Sep 7, 2013

Looking at a home now and there was a stucco inspection done. A few areas were pointed out as problem areas, with readings at or around 30%. How should I handle this?

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Bruce Ailion’s answer
Bruce Ailion, Agent, Marietta, GA
Tue Sep 10, 2013
Walk away. Even if fixed this will be a difficult home to sell. It is similar to buying a car with a salvage title. There are many homes without such problems and this condition is either a sign the home was not built correctly or was not maintained correctly both a sigh there are probably other issues. View this home as buyer would, buying from you. Walk away. There are plenty of great homes.

Bruce Ailion,
RE/MAX Greater Atlanta
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0 votes
Robert A Whi…, Agent, Roswell, GA
Sun Sep 8, 2013
Kim,

It all depends on where you are in the process as to what if any options you have.

If you are still in the "due-diligence" phase, you can ask for repairs and if it is synthetic stucco, I suggest you ask the seller for a 5 year stucco repair warranty - to get that means the seller will also have to do retrofit work to correct defects that builders always left with the installation.

If this inspection period has passed, you are left with buying the home, or terminating the deal and loosing your earnest money (and other problems as well ) so before you look at that option, I suggest you consult a real estate attorney.

My suggestion when it comes to synthetic stucco, is for 90% of buyers to avoid it unless it has been correctly modified to repel water, and the home is also the slam dunk absolute best option over all other homes, which is very rarely the case.

The evidence is overwhelming that syn stucco homes are harder to resell, and sell for less than comparable non syn stucco homes - that is information I want my buyers to know. A home is a major investment, so my point is why add additional problems to the mix, that are known to cause problems now and in the future.

Best,

Robert Whitfield
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0 votes
Hank Miller, Agent, Alpharetta, GA
Sat Sep 7, 2013
Depending on where you are and at what point in the due diligence you are will dictate the answer. If it's during due diligence, have your agent write up a request for repairs. I would look to negotiate price and do the repairs myself.

If you're out of due diligence, you may have an issue. But, everything you do first needs to go through your agent
Web Reference:  http://www.hmtatlanta.com
0 votes
Fred Yancy, Agent, Woodstock, GA
Sat Sep 7, 2013
Kim - If you are still in the due diligence period, you have the option to not purchase the home or ask the owner to modify the offer to include repairs. Discuss all your available options with your Realtor as he/she has more information about your particular situation and can provide you with the best answer for your situation.

Fred Yancy, Broker
Crye-Leike Realtors
(678) 799-4663
http://fredyancy.crye-leike.com
0 votes
Maria Cipoll…, Agent, Coral Springs, FL
Sat Sep 7, 2013
Hi Kim,

In any real estate transaction, things can go wrong easily. Hiring a real estate attorney that can review and guide you through the process would definitely be beneficial.

Good Luck,

Maria Cipollone

http://www.Flahomespecialist.com

http://www.Linkedin.com/pub/maria-cipollone/32/735/81b/
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