Zillow Advice: Buying Process - Failed walk through the day before closing http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ Zillow Advice | Zillow Real Estate In the state&nbsp;of NC, ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ In the state&nbsp;of NC, if&nbsp;the seller agrees to make certain repairs and signed a repair request or addendum, this makes it a legal obligation of the seller to perform, otherwise he is breach of the contract. Did the seller sign such a form?<br/><br/>If so,&nbsp;and you&nbsp;decide to&nbsp;terminate the&nbsp;contract, &nbsp;he would then owe you any due diligence&nbsp;money&nbsp;or earnest deposit that was given. In addition he would also owe you any costs you have incurred including any inspection fees, appraisal fees, etc... This alone will usually make a seller pretty motivated to do the repairs he agreed to do.<br/><br/>If you want to move forward with the deal, you could ask the attorney to hold a certain amount of money at closing( or&nbsp;in an escrow account) which would cover the costs of the repairs. The money could be held until repairs are done or you could negotiate that the money be give directly to you to make the repairs. Tell the seller that if he doesn't agree to this he would be in breach of the contract and you will terminate, hence causing the aforementioned financial obligations on him. Fri, 30 Aug 2013 04:06:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T04:06:00Z If the seller informed you ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ If the seller informed you repairs were complete, a good move would've been sending the inspector back over to confirm it. When an inspector has to go back a third time, I make sure the fee charged goes on the seller's side of the HUD. The sellers are informed of this at time of the first inspection. Some think we are bluffing. Fri, 30 Aug 2013 17:23:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T17:23:00Z The solutions&nbsp;is really ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ <p>The solutions&nbsp;is really dependent on the state your in and what the contract says.<br/><br/>In California, the final walk through (or verification of property condition) is not a contingency of the contract. This means that you can't cancel the deal based on this walk through. If you walked away, you would lose your good faith deposit.<br/><br/>You do have three&nbsp;options:<br/><br/>First, you can delay the close of escrow until the repairs are done. You would ask the bank not to fund the loan so that you're not paying interest&nbsp; on the loan before you even own the property. This brings another potential problem, however, which is that you may be facing the expiration of your rate lock. You may only be able to put off the close for a short period of time before your interest rate is at stake.<br/><br/>Second, you can agree to a seller credit (if the lender allows) to finish the work yourself after you close.&nbsp;This idea didn't seem to&nbsp;appeal to you too much.&nbsp;And this also assumes that the seller will agree to it.<br/><br/>Third, you can close the deal and then take the seller to small claims court.&nbsp;If the seller is resistant to doing the work, then this may be your best option because you can't postpone the transaction forever.&nbsp;<br/><br/>Hopefully, there is a good reason for why the seller is delayed and everything can be worked out amicably. It will be up to your agent to best advise you in this situation.</p> Fri, 30 Aug 2013 04:45:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T04:45:00Z evaluate what the level of ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ evaluate what the level of repairs...were they cursory or major to the home. <br/>there's nothing that you can do to make the deal sweeter...though the seller did breech the agreement in my opinion. You should talk with your attorney to understand your recourse. Fri, 30 Aug 2013 04:22:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T04:22:00Z I'd recommend, hard as it ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ I'd recommend, hard as it is, setting aside the emotion of the situation. &nbsp;I personally like the suggestions of having the money set aside. &nbsp;Sure, you may have to coordinate the repairs (or your agent) but you'll be assured their done correctly and not rushed.&nbsp; Fri, 30 Aug 2013 04:15:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T04:15:00Z Three days before the walk-through ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ Three days before the walk-through my agent was there when some repairs were being done and thought that the home would be ready. I received a call today saying that it didn't look good. A major repair is that a side fence is not complete, some electrical issues with the downstairs wall outlets need to be switched, a window needs replacing, and a leak under the kitchen sink, and this is a new home. I'm really angry right now because we were planning on moving this long weekend. Now I may end up paying more rent....and everything is just delayed now...really frustrating. My agent says calm down, think about if I want to change the closing date, give the seller a couple of days to repair or even have him put some money aside so that if the repairs are not done then I get the money. But to me that gives him a reason to not do the repairs. And after closing I don't want to be dealing with having to arrange to have things fixed Fri, 30 Aug 2013 04:03:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T04:03:00Z Several good answers already; ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ Several good answers already; was your agent unaware these repairs had not been done yet? Fri, 30 Aug 2013 03:45:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T03:45:00Z Any delay that is caused ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ Any delay that is caused by the seller and requires an extension, requires your signature and agreement.<br/>You can request anything that you feel is necessary for that signature, including:<br/>1.&nbsp; $ per day<br/>2.&nbsp; change in Price<br/>3.&nbsp; credits for closing costs<br/><br/>or whatever you need Fri, 30 Aug 2013 03:41:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T03:41:00Z That unfortunately is what ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ That unfortunately is what we dread as agents walking into a walk through. &nbsp;Some houses you know will be perfect and others you hope its all done. &nbsp;The best course of action is usually to let cooler heads prevail and stay with the deal. &nbsp;You have spent money on mortgage application, appraisals, attorneys, etc...Talk to your agent and make sure it is all done before the next walk through. &nbsp;Good luck! Fri, 30 Aug 2013 03:34:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T03:34:00Z No, nothing to make it sweeter ... http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ No, nothing to make it sweeter although if you encounter additional charges there may be some possibilities. Thank goodness you did the walk through. What does your agent say? Fri, 30 Aug 2013 03:24:00 GMT http://www.zillow.com/advice-thread/Failed-walk-through-the-day-before-closing/509245/ 2013-08-30T03:24:00Z