I am closing on house tomorrow morning. Listed for 29,000. agreed on 23,000. way below worth. See I owe taxes and got leins.need to sell bad. House is a beauty, remodled. I already did everything they wanted in the contract, back roof, siding, electric, ect... spent $1000. They had already knew about wet basement, they did a walk through tonight while it was pouring down rain and they saw a stream of water coming in. They asked if I would lower the price more. I said no way in HELL. They already got the house at a discount, I'm scarred they are going to pressure me tomorrow. I'm ready to filp out on them, and start swearing. Any tips on what to say to them would be greatly appreciated. I'm only getting back $12, 674.56 Thats not alot of money to me, and I can not afford the extra loss. They have been bleeding me dry ever since the agreement and I had no idea I would have to spend so much. See I'm a contractor so they are geting the work done cheep. But I did all I could. PLEASE HELP!
2007-06-19 16:51:02 · 10 answers · asked by paintedlady265 2 in Business & Finance ➔ Renting & Real Estate
http://www.howardhanna.com/apps/propertysearch/homes/index.cfm?search_LN=656086&action=detail&lnsrc=n&MLSTYPE=WPML&search_cities_list=McKeesport@Allegheny&search_state=PA&search_county=allegheny&search_cities=McKeesport@Allegheny&search_SchoolDistrict=&search_price_range_min=20000&search_price_range_max=30000&search_min_bedrooms=0&search_min_baths=0&search_property_type=1
2007-06-19 16:54:04 · update #1
They absolutely knew because they were concerner about where I had put the fench drain in, because of water in the first place. They saw water on the floor when they saw the house for the first time. And I told them about it, it was the first thing I told them about actually.
2007-06-19 17:00:53 · update #2
It is being sold through a differnet company than who it is listed through, and the buyers agent is a real @~*!
2007-06-19 17:03:44 · update #3
In Wisconsin, on the offer to purchase there is a deadline as to when they can give you a list of defects they would like you to change. Since it looks like they already gave you a list (roof, siding, electric) and you cured those problems, they cannot pile more onto you. They were aware of the basement problem and if they were concerned about that, they should have submitted that to you when they gave you the list of defects. Are you working with a real estate salesperson? If so, allow the agent to explain the right to cure and the deadline. If not, explain to them that they were made aware of the problem and it's too late to remedy it, either by fixing the problem or deducting money from the price. Good luck!
2007-06-19 16:59:11 · answer #1 · answered by Gwen Z 2 · 0⤊ 0⤋
There are 2 things to do first. 1. Get pre-qualified by a bank. This may cost a few dollars, usually $50 or so, but it tells the seller and the real estate agents they're not wasting their time with you. 2. Get a real estate agent. The agent will run comps for you, and explain how they adjust the sales prices to accommodate differences in the properties. You can offer whatever you want, but if the listing price is close to the actual value of the home, and you offer $30k less than the tax value, you're likely to tick the seller off. This is his HOME, not just a piece of property and seller sometimes take the offer personally. "I'm not going to GIVE the home away!" I can't tell you how many times I heard that even when the offer was reasonable. Be sure to include a time frame for response when you make an offer. 24 hours is reasonable here, but your agent will know what's standard where you live. The sites are general, and the local custom where you live may be completely different from where I live. Some places the sellers expect to pay certain closing costs, and other places they'd be outraged if you ask. You need an expert in real estate for your town...that's the real estate agent.
2016-04-01 06:37:27 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Well my friend if you don't lower the price for the water in your basement they can refuse to buy the house at closing. If it was me I would not buy the house because that's the purpose of the walk through prior to going to closing to make sure everything requested has been completed and there are no more damages or items need fixing prior to taking over the house and mortgage payments from the owner (you). I would just tell them if they cannot take the house as is I will have to sell it to someone else provide you have time to wait for another buyer. That basement must have mold in it from the water damage so seller be aware what you are up against. Good luck.
2007-06-19 17:06:22 · answer #3 · answered by Al Feel GoodH 2 · 2⤊ 0⤋
Without seeing the disclosure statement you signed, it's hard to say. If it said "damp basement" and the buyer saw water running through it on the walk-through, they'd probably be within their rights to cancel the deal. And if you don't have a written disclosure statement listing the wet basement you have no leg to stand on since everything in a real estate deal has to be in writing.
This puts you between a rock and a hard place. If you don't lower the price, they may walk on the deal. It's your call, but I can tell you one thing for sure: If you blow your cool, you WILL lose the deal.
What does your attorney say?
2007-06-19 17:06:57 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
If they did mention this in the contract and after inspection, and if you disclouse this when they sign the contract, you can faite for this, but you have to consider ,that they can say they will not close until you will fix, you can loose the sale and your taxes will not be pd. So try negotiate as much as you can, do not overdo, because you need this sale.And today market it's so bad,do not get stack with the house, be smart, let lowers do the work.
2007-06-19 17:13:29 · answer #5 · answered by reality 6 · 0⤊ 0⤋
Water in the basement is a serious problem but if they already knew about that, it's their problem. Do NOT lose your temper. That would be a huge mistake. Instead, smile and tell them what a bargain they're getting. Just say no to any further reduction.
2007-06-19 16:56:17 · answer #6 · answered by notyou311 7 · 0⤊ 0⤋
You can fix the leak, remove the water and cleanup the damage. If they signed the paperwork before the water damage, they can't do anything. You could get 3 estimates on what it will cost to fix the problem, then deduct the estimate that's lowest from the sale of the house. Get everything in writing and witnessed.
2007-06-19 16:56:37 · answer #7 · answered by ZORRO 3 · 0⤊ 1⤋
You can try and hold your ground but if you didn't disclose on a Property Disclosure Statement in writing you may be in a bit of a bind as it is your word against theirs.
2007-06-19 18:22:00 · answer #8 · answered by Maggie E 2 · 0⤊ 0⤋
You have every right to agree or disagree on the payment. Hold your ground. Just remember your next lookers at the house might notice it also
2007-06-19 16:55:37 · answer #9 · answered by mikesdaman71 4 · 0⤊ 1⤋
All you can do is stand your ground and refuse to any further concessions.
2007-06-19 16:57:34 · answer #10 · answered by Yanswersmonitorsarenazis 5 · 0⤊ 0⤋