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Please help - under contract REO property but repairs are not being done under permits

I recently signed a P&S agreement for a bank owned property.  Upon inspection, we found a lot of significant problems (structure, mold, electrical & plumbing).  The bank has agreed to make repairs, they hired a "contractor" and ensured me the permits would be pulled.
Construction has started to repair the roof framing of the attached garage and adjacent breeze way which was converted into a family room.  Significant structural issues are being resolved but no permits have been pulled.

I want out of this contract - do not trust that the repairs are being made accordingly to a structural engineering plan, to code or being done by a licensed contractor.

How do I get out now?  Property is in unincorporated Jefferson County, Arvada Colorado.
  • July 27 - Arvada
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Answers (2)

Lender for your home loan would have certain requirements as well. They might want to see the required paperwork. 
Your agent might want to get this sorted out with the bank negotiator or their Realtor.
  • July 27
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Profile picture for wetdawgs
Have your agent ask the question again to the seller (bank's rep) about permits, and remind them that work done by a licensed contract and  permits fully signed off are mandatory for your acceptance of the repairs.      After the repairs are done, you should have an acceptance period when again you can ask for the contractor's license information and the fully completed permits.

  • July 27
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