Should I waive repairs required by "property condition" clause in contract?

Profile picture for violet777
Contract had inspection contingency and clause under which sellers warranted that the existing appliances, heating, cooling, plumbing, electrical systems and equipment, etc. would be in normal working order as of the possession date.  Inspection uncovered several small items (totaling maybe $2,000) that are required to be repaired under the property condition clause.  Sellers are refusing to do so.  I need to decide how to respond.  
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April 17 2009 - Washington
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Answers (3)

Profile picture for Connie Wildasin

personally I would not advise a lawyer on a $2,000 potential issue... I would have my agent try and go in and negoicate the deal as the contract called out orginialy... you say the issue is $2,000.. how did you arrive at that price... are the issues things the owner could handle themselves? or you could have a handyman and 1/2 price after the close?.... repair prices can be all over the chalk board... on repair man charges x the other charges z and somewhere in the middle is y ... or you could do the repairs after close? keep in mind when you own that home, you will be doing repairs for as long as you own the property...

did you get the property at a steal or market value? if you got it for a steal... don't ask for repairs... so what move on...

if you are paying top dollar I understand your wanting the seller to step up.. sometimes it is in the approach... try again and see what your agent can get done for you... be realilistic and then be perpared to say ok so what or walk away...

good luck

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April 25 2009
Profile picture for Adriana Steel
You can decide to repair the items yourself or you can void the contract. However, the seller really should repair the items. They should fix them or give you a credit. Who is your settlement co? They will have the best legal answer. However, I would just move forward. (Or, you could sue them for wasting your time). Contact your settlement attorney!  
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April 25 2009
Profile picture for wetdawgs
At $2,000, you need to make up the decision on what it is worth to you.

If I loved the house, I'd probably move forward. 


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April 17 2009
 

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