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Joshua Heard's Advice

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  • 192 Contributions
  • 2 Best Answers
  • 27 Helpful

Joshua Heard wrote:

Why would a seller ask for an "as is" agreement to be signed after the inspection?

Answer
A seller can be responsible for latent (hidden) defects that they knew about, or should have known about.  These can be defects that are discovered long after the property is sold.  So, they either know of a defect and are attempting to release themselves from liability, or they are being very cautious.  By signing an "as-is" agreement, you are giving up certain contractual rights and remedies.  I would ask for a concession in return.  However, as another poster said, for most banks, auctions, and other distressed sales, an "as-is" clause is normal.
February 25
(0)

Payment for survey past due for house I didn't close on.

Answer
Typically one must pay for services rendered during the closing for such things as surveys and inspections even if one did not purchase the house.  However, since 2 years has gone by, I would think the statute of limitations may apply.  Every state is different, but 2 years is the statute of limitation period in most states for an oral contract, 4 years for written.  I would demand to see any written contract they may have, and if they have none, I would refuse to pay based on the statute of limitations for oral contracts.  Check your state laws first or consult with a lawyer.By the way, I couldn't tell from your question, but if you are buying a condo, there is no point in getting a land survey.  I would say that was a mistake by your agent.
February 25
(0)

How do I find out if there are liens on a property?

Answer
Go to the county website.  Most have property records that you can search and look for liens.  I would only recommend buying a foreclosure if you are an advanced investor, and based on your question, I do not believe you are.
February 25
(0)

I have a signed purchase agreement.

Answer
You don't have to agree with any changes to the purchase agreement even if the seller has another, better, offer, unless there is wording in the contract otherwise.  If the contract states a closing date, that doesn't change unless there is a clause in the contract to change it, or you both agree to change it.  Just because you agree to remove a contingency doesn't mean you agree to change the closing date.
February 14
(0)

In TN if a home inspection was not met, but seller allowed future date, what is law?

Answer
I don't know the law, but you should do the inspection before you close, otherwise, it will be very difficult to remedy any defects found in the inspection.
January 28
(0)

i am trying to determine a rental price for my home do you have a calculator for that

Answer
It's called the "Rent Zestimate".
December 12 2013
(0)

If my home will be sitting empty for a month or two, is it okay to have the water turned off?

Answer
I would not just turn the water off.  If you are concerned, pay a professional to have the house winterized.  One reason is that the water in the P-traps (under the sinks) will evaporate allowing stinky sewer gas to escape.  A professional will put a proper liquid to keep it sealed.  There are other issues.
December 12 2013
(0)

carpet seams acceptable?

Answer
You should not see a seam.  This is not a proper installation. 
December 12 2013
(0)

Who pays for title policy? Should the Seller pay for it, or should the Buyer pay for it?

Answer
Everything is negotiable, but I would say, logically, the beneficiary of the policy should pay.
December 08 2013
(0)

American living abroad - mortgage

Answer
If you have proof of income from pay stubs, good credit, and enough assets for a large down payment, borders shouldn't stop you.
November 12 2013
(1)