We put a contract on a house, got the inspection or appraisal, found out we needed to do some touch up painting, so we did. we are now waiting for the survey, my question is, after putting in 2 1/2 days of painting this house, can they come back and say we cant have the house. We have our approval from the mortage company, and just waiting for the survey, is there a chance some one could change there mind, and we do this painting for nothing.
2007-10-08 03:31:40 · 5 answers · asked by Leeanne 4 in Business & Finance ➔ Renting & Real Estate
If the seller allowed you to do the repairs after the purchase agreement was fully executed (signed and agreed to), they cannot kick you out. Find out if there are any seller contingencies (like they can't sell until the are ready to buy a new home). If none exist, you are fine.
As for your mortgage, do not change ANYTHING on your credit report until after the closing. If you are already approved the lender doesn't need any further documentation from you - however - they may pull a final credit report just prior to closing and any changes on that report can cause the loan to be denied. Then all your hard work would be for naught.
2007-10-08 04:29:10 · answer #1 · answered by thinking-guru 4 · 0⤊ 0⤋
I had a deal something like this a few years ago. The appraiser wouldn't sign off on the appraisal because there were cracks that had been touched up but hadn't been painted. The seller didn't want to paint so the buyer did. I honestly did not know if that sale was going to go through or not. The buyer had the water turned on and found a leak in the bathroom so they pulled out the toilet and did stuff they weren't supposed to do. The selling agent told the appraiser to go in with blinders on and just see that it had been painted as she asked. Luckily, she did and the sale went through. There is a chance that something could happen but if you did what the appraiser/inspector asked then it should be ok.
2007-10-08 10:47:51 · answer #2 · answered by angela 6 · 0⤊ 0⤋
The seller of the house should have taken care of the painting and any other repairs that cause the house to fail the inspection. Appraisal is for the value and the Inspection is for the condition of the house.
Basically you went and painted a house that belongs to someone else. Why your real estate agent let you do something like that is something you need to look into. You may have to consult with a real estate attorney. State laws concerning real estate transactions can vary. Also call the State Board of Realtors that governs agencies. Now that you painted the house the value has most likely increased and now they can get more for the house. You wouldn't put money into repairs on a car that you wanted to buy before you received the title because you would be fixing their car and they don't have to sell it anymore.
2007-10-08 10:44:03 · answer #3 · answered by Anonymous · 0⤊ 1⤋
If you don't obtain financing, you will not receive the house. Before you embarked on the painting project, you could have had a written agreement to be compensated for the painting if you don't receive the house. Now that the painting is complete, you could only ask, but the owner will not be obligated to pay.
Hopefully it won't matter, and you get the house.
2007-10-08 10:47:29 · answer #4 · answered by godged 7 · 0⤊ 0⤋
the house is not yours until closing. the seller has the right to sell it anyone. did you put a deposit on the house? if the seller doesn't want to sell it to you, then ask them if they can reimburse you the painting materials.
2007-10-08 10:41:00 · answer #5 · answered by hi91977 3 · 0⤊ 0⤋