(Closed) First time homebuyer needing advice

posted 5 years ago in Home
Post # 3
Member
11327 posts
Sugar Beekeeper
  • Wedding: February 2011

I don’t really have any advice because you already have your options: Accept it as-is or walk. It sucks, but people are dicks. You just need to figure out if the house is worth the cost–even with these issues– or if it is NOT worth the cost/if the drama of it all will taint your view of it.

Post # 4
Member
1508 posts
Bumble bee
  • Wedding: June 2013

@Brightlight:  That sounds like a costy repair?

Obviously I don’t know your complete situation but I would be very leery buying a house from someone who lied on the disclosure.

I would call up another inspector and have a 2nd opinion done or have a contractor come in take a look, assess the damage and an estimate. Water can cause all sorts of issues, ie damage to the foundation of the house which could cost you thousands! Inspectors are great but they do miss things sometimes and if there is already a major issue, I’d def. have someone else check things out and compare to the first report.

If the seller isn’t willing to allow any of that I would walk. I have heard of many sellers coming around after the buyer walks so he may just be playing hard ball nd if you walk he may negotiate more…

Post # 5
Member
772 posts
Busy bee
  • Wedding: December 2011

Agreed.  Get someone to come do an estimate for the repair and decide if you want to pay it yourself or walk. 

I would not trust that he hasn’t lied about other things, and inspections don’t find everything.  Be wary. 

Post # 6
Member
1600 posts
Bumble bee
  • Wedding: September 2013

 

I don’t know if it’s different from state to state, but I thought you had to get the inspection BEFORE you went ahead with the formal loan application so you knew what you were getting into (and also so you could use any needed repairs as negotiating tools)?

My cousin has been all over the real estate business for 25+ years and that’s what she advised us to do. I realize it may be a little late for you, but …. I’m shocked that your real estate agent didn’t have you guys do this first because now you’re out of luck!Frown

I’m so sorry you’re in this position — hopefully it works out for the best.

 

 

 

 

 

 

 

Post # 9
Member
1600 posts
Bumble bee
  • Wedding: September 2013

Also …. if you can prove he lied in the disclosure …. that’s fraud. Can’t they do something about that???

And I’m kind of shocked that your agent isn’t more willing to try and negotiate with the price/repairs. Honestly, I’d be mad if my agent just said they “doubt” a seller is going to lower their price. Can’t they at least try? I mean, that’s their job!

Sorry to sound harsh but …. it sounds like your agent isn’t watching out for you like he/she should be. Maybe contact the owner/president of the real estate company??

 

 

 

 

Post # 11
Member
1600 posts
Bumble bee
  • Wedding: September 2013

@Brightlight: Wow. I am so sorry you’re dealing with this. I would definitely contact your agent’s boss. 

I know I am kind of spoiled because I have a family member in the business who I know I can trust but …. I feel like that is just unacceptable “service.”

Your agent should be HELPING you, not hurting you and it sounds like she is doing anything but. It’s obvious all she cares about is her money and not you.

Ugh, good luck! I hope everything works out!

 

 

 

 

 

 

Post # 12
Member
1508 posts
Bumble bee
  • Wedding: June 2013

@Brightlight:  Just a thought, is the seller using his own agent or the same one as you?

 

Post # 13
Member
1651 posts
Bumble bee
  • Wedding: November 2015

@Brightlight:  Be grateful you found out now and not after everything is signed, sealed, and paid for. If the buyer isn’t willing to work with you then there isn’t anything you can do: you can either accept the challenge and the home (and the costs that come with repairs) or you guys can walk away. Go ahead and have the other people take a look at the damage, but don’t get your hopes up; it could be that the damage is much worse than the inspector thought.

If you need to (I don’t think you will) you can always look up real estate laws in your state. Some states have “buyer beware” laws, while you can legally go after a seller for deliberately lying in others. You’d need proof that the seller had lied though, so if you go this route you’d have to have some sort of evidence (such as emails or documents lying about the condition of the home).

To be honest, I would walk personally. You can always find another place to live that would cost less and be in better condition. And I would talk to your Agent’s supervisor. Your Agent is responsible for looking out for your best interests (although I’m interested to know if she’s related to the seller or if she represents the seller as well).

@Stace126:  +1 to everything you said.

Post # 14
Member
9234 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

Ignore how annoying the home seller is – this is one of the biggest financial decisions of your life, so don’t let winning or losing or teaching the seller a lesson or any other emotional reason sway your decision.  Figure out if it’s worth the additional cost to keep this house, from purely a financial angle.  If it’s at a great deal, maybe it is!  If not, walk away and find a better deal.

Regarding your agent, listen to her advice but do keep in mind that it’s in her best interest to wrap up a sale with you sooner rather than later.  If you she isn’t listening to your doubts about going through with this, I would definitely consider getting a new agent!

Good luck 🙂

Post # 15
Member
10367 posts
Sugar Beekeeper
  • Wedding: September 2010

It seems weird that your loan has already been approved/processed and you guys are still talking about this issue. Has your inspection contingency passed? Do you have earnest money down on this property? If so, you will have to forfeit the earnest money to walk away. Which honestly, I would. Standing water = mold and rot = expensive!!!

Post # 16
Member
6015 posts
Bee Keeper
  • Wedding: March 2012

walk .. RUN .. RUUUUUN.  I had this problem and I sucked it up and went with the contract.  There was a hurrican and  the basement flooded from three sides and I had water to my knees.  Everytime after that …. i mean even thunderstorms.. water to my knees.    I put a sump pump in … and then got a $15k estimate to fix two of the walls in the basement. 

 

Seriously .. you’ve dodged a bullet …. I wish I had run.

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