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Replies (3)
First, read your Purchase Agreement to see who is responsible. Generally speaking, however, if there are any problems found with the property in the course of an inspection, you as the buyer can request (in writing of course) to have the sellers correct the problem(s) prior to settlement. Be sure to adhere to the timelines as spelled out in your Agreement for making such a request.
- RE_Obsessed
- Contributions:33
When we purchased our home in December 2007 (in Ohio), the radon tests showed high levels, and the sellers gave us $1000 credit to have a mitigation system installed. It actually cost us about $850 to have it installed so it was a fair deal. If you had a radon contingency in your purchase agreement, I would think you could definitely go back to the seller and ask them to take care of it. Otherwise, you can potentially back out of your contract and I am guessing the sellers don't want that.
- Michael Podanoffsky, "mike.yorksbest"
- Contributions:140
If you are buying the property you have the responsibility for setting the price and terms. Your only leverage is to walk away. Since I doubt they have many other offers, their stubbornness may cost them the sale.
A couple of negotiating points:
-- You have already made an offer at $999,000 and there has been an acceptance. However, you have tremendous leverage because you can cancel the contract over the radon. [ check with your lawyer on this one ] You also have a specific deadline and must respond within that date - so don't waste time.
-- You can ask for an extension on the radon issue. Say you want to discuss what your response will be be and want another 7 days. This is an extension to the inspection contingency. Use a lawyer or your agent (not their agent).
-- After the extension - if you need one -- indicate that you are unwilling to fix this issue and may walk on the contract.
-- Your "may walk on the contract" talk only works if you really can walk legally out of it over this issue.
-- If you do walk, you can make another offer at $975,000 on the same day. It may, or may not be accepted.
-- be prepared to not move into this home if everything falls apart.
-- be prepared to accept that you will pay for remediation if they refuse and you really want this house
-- demand and walk a tough line on their repairing this or you may walk
-- make sure you get a date by which the remidiation will be fixed, say within 21 days
Who is responsible for remediating radon problem?
We are interested in buying a home in Connecticut - recent inspection shows high levels of radon - who is responsible for remediating the problem - us, the buyers or the seller WHO by the way hasn't budged one cent from an asking price of 999,000!
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