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Put in full price offer on short sale...seller's lawyer put in verbage that we will not hold seller or bank liable for any new damage to the home caused by her son who lives next door. He has a temper and is unpredictable(crazy). He has already stripped the lighting fixtures, all closet doors, the fridge,punched holes in the walls...we were told that they won't gaurantee that the garage door opener will be there. The sliding door in the back of the house is broken and cant be locked...we were told that they can't secure it for us. So we are at the mercy of a man that may not be done stripping the property...what if he strips the plumbing and the A/C? My buyers agent says no worries...he wont do that. And this is all typical for a short sale...and if he did the bank would have to fix it all. So all the adults in the room can't lock up a property...this man can slink in and out for 2 mos or more until we close. Our reply stated that this is unacceptable and the bank or seller was to immediatly change the locks and secure the slider patio door so that the previous tenent (her son) no longer had access and that the property was to convey in the condition that we viewed it in and made the offer on(already mostly stripped). My agent said well then he could just break a window to get in...
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Thanks for the great advice...the red flags are everywhere on this property! Too bad because we had USDA and 3% closing assist. And the house is in the gated community that we are renting in now. The sales price is 145 and comps are 175. We have decided to walk anyway...We have 10K savings and can fix the prop as is but can NOT afford it if he decides to destroy the A/C or anything major. The great price then becomes not such a great deal after all.
btw...we did tell them they could add verbage acceptable to us..".if they won't secure the property and the property continues to be stripped then we can renegotiate the the sales price before closing. Told them that I would stand there and hand the guy the tools...but the price would drop considerably." Again my agent is telling me to just go along although it is a litte bizzare...well within normal for short sales. She states that she had the wiring stripped from a house and the bank had to fix it...she has had a/c compressors stolen from the side of the house (2 of them) and we should expect this...I dont think I have the stomach for short sales...I will continue to rent.
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