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  1. #1

    Thumbs up Seller refuses to sell house now

    We signed a contract to buy a house. When we brought our inspectors in they found a leak, which after more inspections resulted in finding dry-rot. The seller wanted to do repairs himself which was fine with us as long as he got necessary permits. We also said we would take x amount off the price and have the work done ourselves. Which we preferred, but he didn't want to do at all. Our estimates for the repairs were much higher than the ones he got, but that doesn't matter because we agreed to let him do the work. Now he doesn't want to do the repairs, or give us any money off. We close in 2 days, and he is trying to pull out of the contract. The other oddity, is that he himself is a contractor, so it seems, the only issue is having this thing permitted. We have had every other inspector known to man, and everything checks out. It is just this one item. The house is in a very desirable area, and we really want the house, or we wouldn't have signed a contract to buy it. Aren't there rules about refusing to sell a house just because a buyer found damage, and wants it repaired?

  2. #2

    Default

    Hi BondiAna,

    This situation is really going to come back to what you have in writing on the contract.
    If your contract is for one price and you wish to have him do work or reduce the price then you are changing the contract.

    If you change the contract they can get out of the contract.

    My advice is to either settle on the terms as they stand, or renegotiate if possible, if not possible walk away.

    Cheers
    Steve
    Steven Goodey - CEO PropertyTutors Wellington

    www.propertytutors.com

  3. #3
    Join Date
    Feb 2004
    Location
    North Waikato
    Posts
    651

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    If its is included in the contract that the vendor was to undertake the repairs, but he hasn't, you can delay settlement (based on your pre-settlement inspection) and charge him penalty interest. He can't just cancel a unconditional contract. If its not in writing then things could be a bit messier. Your lawyer should be able to outline your options, which could include offering to settle but retaining an amount equivalent to the repair costs, until the matter is resolved satisfactorily.

    John

  4. #4

    Default

    Just noting also that this post is in USA Commercial so the rules may be different than where I am.

    My advice is to seek legal opinion, it might be as simple as asking you legal council were you stand.

    Steve
    Steven Goodey - CEO PropertyTutors Wellington

    www.propertytutors.com

  5. #5
    Join Date
    Nov 2005
    Posts
    3,286

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    Quote Originally Posted by BondiAna View Post
    We signed a contract to buy a house. When we brought our inspectors in they found a leak, which after more inspections resulted in finding dry-rot. The seller wanted to do repairs himself which was fine with us as long as he got necessary permits. We also said we would take x amount off the price and have the work done ourselves. Which we preferred, but he didn't want to do at all. Our estimates for the repairs were much higher than the ones he got, but that doesn't matter because we agreed to let him do the work. Now he doesn't want to do the repairs, or give us any money off. We close in 2 days, and he is trying to pull out of the contract. The other oddity, is that he himself is a contractor, so it seems, the only issue is having this thing permitted. We have had every other inspector known to man, and everything checks out. It is just this one item. The house is in a very desirable area, and we really want the house, or we wouldn't have signed a contract to buy it. Aren't there rules about refusing to sell a house just because a buyer found damage, and wants it repaired?
    Hello BondiAna,

    Change your thinking on this one.

    He is not refuses to sell: you are refusing to buy.

    If you like the house so much just confirm the contract and be done with it.

    xris

  6. #6
    Join Date
    Nov 2005
    Posts
    3,286

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    Steve,

    Good point which I too have only just noticed.

    xris

  7. #7

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    You should not make any contract before doing the proper inspection of the house because once you going to sign the contract then it is very difficult to change it. Now you have only got two choice, either go with the contract or you can get out off it.

  8. #8
    Join Date
    Jun 2006
    Location
    Hutt City
    Posts
    1,305

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    Quote Originally Posted by Alliee View Post
    You should not make any contract before doing the proper inspection of the house because once you going to sign the contract then it is very difficult to change it. Now you have only got two choice, either go with the contract or you can get out off it.
    This thread is 6 years old alliee. Check the date in top left of most recent post.

  9. #9

    Default

    Hi Jumpin, I know that this thread is 6 years old but my advice is not for those who had participated in this thread, actually my advice is for all. Well thanks a lot for reminding me.

  10. #10

    Default

    Yes, I think Stevegoody is correct as you should not change any of the conditions mentioned in the contract, if you will change anything in that, then it may an issue for you. You can any attorney as well to go deep into the matter and to see what is there in the contract.


 

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