Not So Fast.
Our deal on 4016 Utah died at midnight last night. We couldn't come to any agreement with the sellers over what our inspection revealed. The house had some major issues when it came to the plumbing, electrical, termite damage and roofing. We were willing to take on much of the work ourselves, but in the end the sellers didn't want to fix anything and only take pennies off the price of the house. We were looking at around $15K worth of repairs.
Am I hurt? Yes, of course. This house had most everything we were looking for...minus the electrical safety hazards and sewage spilling out of the stack in the basement at any second. I was so ready to be done with the hunting, back to having my weekends and free time to live life. I guess the part that pisses me off the most is we offered over list price to make sure our offer would be chosen, and then the sellers didn't think they should fix anything that was wrong. I am completly offended on a business level. And, in the negotiation process, we gave up so much just to try to get the damn house. Their agent wouldn't even call our agent back to let us know if they were going to accept the last offer or let the deal die. On top of it all, I'm out the $500 for inspection costs. However, in the long run the $500 doesn't compare to the THOUSANDS we would have needed just to make the place liveable.
The trick now is by law the sellers have to disclose everything they found out from our inpection to any other potential buyers. I do not feel these people are honest to begin with, so I'm trying to figure out how I can make sure they are going to disclose all of these things. Maybe I shouldn't even waste my time caring and move on with our search, but part of me can't let this one go yet. If they don't disclose all of it, that is fraud, and last I checked you go to jail for fraud. On the other hand, if someone is willing to buy that house either knowing what is wrong with it or moving forward without an inspection of their own, then maybe they're asking for the trouble they're walking into.
I would rather not get screwed.
Am I hurt? Yes, of course. This house had most everything we were looking for...minus the electrical safety hazards and sewage spilling out of the stack in the basement at any second. I was so ready to be done with the hunting, back to having my weekends and free time to live life. I guess the part that pisses me off the most is we offered over list price to make sure our offer would be chosen, and then the sellers didn't think they should fix anything that was wrong. I am completly offended on a business level. And, in the negotiation process, we gave up so much just to try to get the damn house. Their agent wouldn't even call our agent back to let us know if they were going to accept the last offer or let the deal die. On top of it all, I'm out the $500 for inspection costs. However, in the long run the $500 doesn't compare to the THOUSANDS we would have needed just to make the place liveable.
The trick now is by law the sellers have to disclose everything they found out from our inpection to any other potential buyers. I do not feel these people are honest to begin with, so I'm trying to figure out how I can make sure they are going to disclose all of these things. Maybe I shouldn't even waste my time caring and move on with our search, but part of me can't let this one go yet. If they don't disclose all of it, that is fraud, and last I checked you go to jail for fraud. On the other hand, if someone is willing to buy that house either knowing what is wrong with it or moving forward without an inspection of their own, then maybe they're asking for the trouble they're walking into.
I would rather not get screwed.
posted by Erika at 7:18 PM
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