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  #16  
Old 03-18-2014, 10:12 PM
Hatterasguy's Avatar
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You have no right to inspection when buying a property, its whatever the buyer and seller agree on.

Sounds like the seller is trying to get rid of you, it just depends on how badly you want this property now.

OTOH if you do have a signed contract by both parties you can hold the sellers feet to the fire and honor it. Contracts are enforceable if they chose not to sell sue them and you will most likely win.

If the seller agreed in the contract to give you inspection powers within X number of days, well use it. Consult your attorney here... I have done some really SOB things in this area but that are within the law and gotten away with it. One time with a Cat excavator...but I got my perk tests!

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Last edited by Hatterasguy; 03-18-2014 at 10:23 PM.
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  #17  
Old 03-18-2014, 10:21 PM
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Quote:
Originally Posted by t walgamuth View Post
If I wanted the house I'd say, "No, we have an agreement and I mean to hold you to it."

I had something similar happen when I was buying a lot to build a spec home on. The seller is a large volumn realtor who did not want to make any waves. The neighbor did not like what I was planning to build next to him and filed a lawsuit to block my plans. The realtor selling the lot asked me to let her out of the deal and I said no dice. we have a deal and I expect you to deliver it to me.

She hung in there and I eventually bought the lot, settled with the neighbor and built a very nice house there. The neighbor ended up paying all my legal fees and extra interest and I agreed to move the house on the lot, which by that time I had decided to do anyhow.

If you want the house tell them you intend to hold them to the agreement.

I'd look extra hard at it though in the inspection, because it looks as if they are trying to keep you from discovering something negative.
In CT if a neighbor sues me to hold up a project I am able to counter sue them after I win for monetary damages. IE if they delay my project start for a year I can sue them for rent I would have collected, holding costs, etc.

For example if my gross yearly rent is say $180k for a project, I can get that, holding costs that's another $10k for taxes and utilities, and $50k in legal fees....sue wisely NIMBY...sue wisely...
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  #18  
Old 03-18-2014, 10:56 PM
t walgamuth's Avatar
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Quote:
Originally Posted by Hatterasguy View Post
In CT if a neighbor sues me to hold up a project I am able to counter sue them after I win for monetary damages. IE if they delay my project start for a year I can sue them for rent I would have collected, holding costs, etc.

For example if my gross yearly rent is say $180k for a project, I can get that, holding costs that's another $10k for taxes and utilities, and $50k in legal fees....sue wisely NIMBY...sue wisely...
In my case it was like three days until it came to trial. I ran into the neighbors lawyer on the street. (I knew him). I said lets settle instead of going to court. He said he could not talk to me.

I was with my right hand man Rick so I said OK, then told Rick loudly what I might be willing to do if they wanted to avoid a lot more legal fees. the next day I had an offer on my desk and we shortly thereafter settled, saving me 2500 to 3500 in legal fees (actually saving the neighbor twice that much because I am pretty sure he would have lost....but I'd always settle instead of taking my chances in court.)

Sometimes things work out.
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  #19  
Old 03-18-2014, 11:46 PM
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Being a slow thinker bells are sometimes late to ring. On further reflexion I really do not like the vendors approach. I suspect he may be maneuvering to screw you out of your deposit one way or another. He also wants a larger deposit to screw you out of as well.

Be very careful and try to find out something about his background if you decide to persist. I suspect there just might be title problems as well. There is something wrong somewhere. Taking something as is could include a bad title. Or a real property problem with a neighbor. There are so many possibilities.

I get this feeling the vendor may know the deal will not be completed. Even if it is his fault that agreement he wanted signed may still have cost you your increased deposit.

Non inspection of a home in todays world is almost unknown unless it is an obvious fixer upper. Perhaps at a dirt cheap price that reflects everything.

The seller of a house is still usually in good shape as the average inspector if not incompetent seems limited except for very obvious things. I am sure there are some good ones but not around my neck of the woods.

I am only mentioning these things as possibilities. I have been involved in some pretty shakey real estate deals in my time. Fortunatly I picked up things even my lawyers had missed.

We could have been burned otherwise. You would not buy a car as a general rule from a suspected crook. I feel buying a house deserves the same consideration. He has already breached your joint agreement. Get your deposit back and forget this house. This may take a lawyer to get but I hope not.

Last edited by barry12345; 03-19-2014 at 12:10 AM.
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  #20  
Old 03-19-2014, 07:32 AM
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Originally Posted by Simpler=Better View Post
x2 and walk away. I'm no expert, but from my own recent house buying and investigating it sounds like they're trying to either sink you for the deposit as a fast cash scheme or pass off a money pit.

JB3-Talk to me about powder post beetles...

just another form of pestilence that enjoys wooden structure buildings, and would like humanity for providing so many tasty morsels. Similar to carpenter ants, termites, ect.

I freak out more about them, because they seem to have a certain style of eating the wood, like the bore a little hole and eat out the inside of the timber, leaving a veneer surface. Whereas termites and carpenter ants leave way more exterior damage, the powderpost beetle leaves like a speckled effect. Seems a little easier to miss damage from them, at least to me

Powderpost beetle - Wikipedia, the free encyclopedia
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  #21  
Old 03-19-2014, 07:44 AM
JB3 JB3 is offline
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Originally Posted by barry12345 View Post
Being a slow thinker bells are sometimes late to ring. On further reflexion I really do not like the vendors approach. I suspect he may be maneuvering to screw you out of your deposit one way or another. He also wants a larger deposit to screw you out of as well.

Be very careful and try to find out something about his background if you decide to persist. I suspect there just might be title problems as well. There is something wrong somewhere. Taking something as is could include a bad title. Or a real property problem with a neighbor. There are so many possibilities.

I get this feeling the vendor may know the deal will not be completed. Even if it is his fault that agreement he wanted signed may still have cost you your increased deposit.

Non inspection of a home in todays world is almost unknown unless it is an obvious fixer upper. Perhaps at a dirt cheap price that reflects everything.

The seller of a house is still usually in good shape as the average inspector if not incompetent seems limited except for very obvious things. I am sure there are some good ones but not around my neck of the woods.

I am only mentioning these things as possibilities. I have been involved in some pretty shakey real estate deals in my time. Fortunatly I picked up things even my lawyers had missed.

We could have been burned otherwise. You would not buy a car as a general rule from a suspected crook. I feel buying a house deserves the same consideration. He has already breached your joint agreement. Get your deposit back and forget this house. This may take a lawyer to get but I hope not.
I employ an inspector that I have come to really appreciate. Luck of the draw for me, because he was only the second inspector I ever hired, and hes expensive, but the stuff this guy notices has saved me a fortune in emergency repair money so far on two buildings I used him on, as well as negotiation with the seller on big issues.

Both times the sellers agent starting complaining about the amount of time the inspector was in the property. Up to and including 4-5 hours.

I then get in my email a 50 page document that not only lists every broken window latch, every door that does not close fully, and every brass pipe with a white spot that needs replacement, but has pictures of every trouble spot as well, along with details of exacty where, and in full color. Best use of an I-pad I have yet seen.

I just take his list and go right down it and set up a repair schedule, and nail all the little issues one at a time. All the big issues I can use as negotiation leverage
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  #22  
Old 03-19-2014, 08:48 AM
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get out. and, once you do, don't use the agent you have in this deal. they are either an idiot or lazy
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  #23  
Old 03-19-2014, 10:09 AM
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I have pulled out of this crazy deal.

The stupidities that Im coming to hear are mind boggling, The seller now wants a lease in for 4 days but without a deposit (lol) - Im not the United Nations here.

I expressed my mind in the best of formal english diction - because the seller agent is not even registering it as "option pending" saying that such papers are signed every day - they dont mean anything (This was the last nail in the coffin).

I cancelled it right there pressing on breach of contract of "inspection date".

Furthermore the sellers agent was more interested in "my buyer wants to see some sort of assurance in the form of money" - my argument was this.

If Im spending money to hire a pro inspector to check the house - what do you think Im upto? I certainly am not bidding on a locked door am I? - btw I was offering full asking price which is right at par with the market.
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  #24  
Old 03-19-2014, 12:31 PM
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Quote:
Originally Posted by Zulfiqar View Post
I have pulled out of this crazy deal.

The stupidities that Im coming to hear are mind boggling, The seller now wants a lease in for 4 days but without a deposit (lol) - Im not the United Nations here.

I expressed my mind in the best of formal english diction - because the seller agent is not even registering it as "option pending" saying that such papers are signed every day - they dont mean anything (This was the last nail in the coffin).

I cancelled it right there pressing on breach of contract of "inspection date".

Furthermore the sellers agent was more interested in "my buyer wants to see some sort of assurance in the form of money" - my argument was this.

If Im spending money to hire a pro inspector to check the house - what do you think Im upto? I certainly am not bidding on a locked door am I? - btw I was offering full asking price which is right at par with the market.
Glad you're walking away.

[rant]
What scares me, is that all parties involved with our house hunt so far are always surprised when we show up with flashlights. Apparently people make offers on houses without looking in basements, attics, or under sinks.

"Why yes, I would love to pay $320k for this 1910 house with a water feature in the basement and an asbestos-filled crawlspace under the other 75% of the house"

[/rant]
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  #25  
Old 03-19-2014, 12:35 PM
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Originally Posted by Hatterasguy View Post
Sounds like the seller is trying to get rid of you, it just depends on how badly you want this property now.

OTOH if you do have a signed contract by both parties you can hold the sellers feet to the fire and honor it. Contracts are enforceable if they chose not to sell sue them and you will most likely win.
Sure, you can sue, but unless it's something totally unique, is it worth the time/energy?
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  #26  
Old 03-19-2014, 08:04 PM
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Originally Posted by spdrun View Post
Sure, you can sue, but unless it's something totally unique, is it worth the time/energy?
Depends if its a deal and/or if I have a lot of due diligence money already tied up, sure.

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