What if the wooden floors are in terrible condition after I purchase a coop?

Question

I found a coop that I am interested in purchasing. I intend on pulling up the carpet when I move in but one of my concerns is this... what if the wooden floors under the carpet are in terrible condition? My broker said it was impossible to lift a huge area of the rug b/c the people living there would need to move furniture etc. He seems to think it will be in mint condition. What if it is not after I purchase the place? What can I do to protect my investment?

Answer 1

If that's a make-or-break condition for you, then you must insist on evaluating the hardwood before making an offer, or make the offer subject to that being in good shape. (Making offers "subject-to" is common, but making them subject to a thing like the condition of floors is not common.)

Personally, although I understand the concern, I wouldn't make that my sole or deciding concern, since floors can always be replaced. But if you cannot establish the condition, you could deduct the estimated cost of replacement from what you're willing to offer.

Answer 2

i would inspect the floors before settlement.

I assume that the seller will move prior to settlement. You should always inspect the property after they move and before you settle to make sure that everything is ok and that they didn't take anything that was to stay (ie appliances, lights, etc).

At that time check the floors. If they are in good shape, they may just need to be refinished. This usually runs about $2-4 a sq foot. I would have a flooring guy with you to give an estimate.

I would have the seller give you a credit at settlement vs just having them finished.

However, if the floors are in good shape and "could" use a refinishing (vs, must), I don't think that you are do a credit.

Answer 3

I would insist on a proper inspection prior to purchase. Pure and simple. If the owners have to move furniture for that purpose, so be it. More than one seller has strategically placed a heavy piece of furniture in hopes that a buyer (or inspector) would not move it to inspect underneath. Don't let that issue prevent you from doing a proper inspection.

You should also check with the coop board to see who would be responsible for this if there is a problem.

Answer 4

You might be able to purchase a warranty to cover that

Answer 5

What is a coop? Do you have carpets in the chicken coop?