Home Inspection

stephcarter · January 2014

Where do I even start?

Well, we already gave them the down payment for $12,500. It definitely needs a new roof, which we figured. Also needs a new water system, looking at $6,000 But we also just found out that it needs a new septic system. $12,000! Closing costs are going to be about $10,000 and the seller's agent won't allow the seller assist.

If they don't come down on the price and give us the seller assist, we aren't going to be able to afford to buy the house and fix it to where its livable. But I think this also means that we lose our down payment.

I'm so stressed out guys

stephcarter · January 2014

Contract says to back out due to inspection it would've had to have been done within 10 days. It's been 19.

stephcarter · January 2014

thanks @BandEddie. The guy who did the mortgage is super nice too so I bet we could figure out something if it comes down to it. He mentioned that he thought they were being assholes denying the seller credit.

I also found this in the contract, kind of mentioned it in the randoms thread - "The buyer is permitted to have the assessable areas of the building and detached garage inspected by a reputable exterminating company of the buyers choice to determine if there is any damage caused or infestation by termites or other wood destroying insects. The buyer will pay for this inspection. The inspection report shall be furnished to the seller or sellers agent no less than 0 days prior to settlement. If infestation or damage is found, the seller, at the sellers, expenses, shall have the infestation treated and have repaired or replaced any wood which is deemed to be unserviceable by in the opinion of a professional engineer or building contractor. Treatment and/or repairs are to be completed before settlement."

Well there are wood boring beetles eating the wood under the house. And there is a carpenter bee problem in the back and they tore up the deck. So basically, I can hand them the report the day before settlement, even the day of, and tell them it needs to be fixed. It goes on to say that the seller may cancel the contract and reimburse all funds if they decide not to fix it. They're agent thought she was being slick by filling the contract in with 0's, but really she fucked herself. They can't just rip down the deck either. Because we put in an offer on a house WITH a deck, and it says repair or replace, not get eliminate.

stephcarter · January 2014

TBH it's our own and our agents fault. We've been asking about the inspection forever and he's been acting like it's nbd. The house is empty and the seller lives in nh. We can't get in the house without our agent and he said he'd take care of it. I actually gave up and called an inspector yesterday. And he scheduled the septic last week. Got those results last night.

stephcarter · January 2014

Oh they're assholes. Or at least the agent is. For them to decline the seller assist was an asshole move in my opinion.

They asked if we were investors or a family and I thought it was because they were being kind and wanted the house to go to a family. Now I wonder if they just wanted to pull a fast one.

The 88 year old owners daughter, who has power of attorney, is a politician and real estate lawyer.

stephcarter · January 2014

Because that's what they told us to give. Never bought a house before so I had no idea

stephcarter · January 2014

@BandEddie not sure what a P&S is.

that was just the earnest money to send in the offer.

chricast · January 2014

Wow Steph I know nothing about real estate but I am so sorry this is happening. I'm super sad you might not move closer to me!!

stephcarter · January 2014

Me too @Chricast

@BandEddie we put in our offer and they accepted. Their agent asked our agent to send her the escrow check for $12,500. We signed some sort of agreement and gave her the certified check for $12,500. Closing is next Monday

stephcarter · January 2014

Now that I know more I agree @mbm1983. The money has been taken out of the account. I guess it comes out with a certified check.

Tim (our agent) is going to have the lawyer they use look into it. And he's going to talk to the mortgage guy about possibly denying the loan since the septic is shot.

If we can't get the money back, we will have to buy the house, take out a home equity loan on the house we are in now, and use it to get the septic system fixed.

Chris had said the septic guy mentioned about 12k for the septic system (not an official estimate). But I talked to my uncle (a contractor) and he told me in that area it'll cost us more than 20k.

I definitely feel that they violated some sort of code of ethics.

stephcarter · January 2014

That was the entire down payment. 5% of $250,000. Seemed like a great deal. I thought it was good karma for working hard and saving money and having a handy husband and being polite and all those random acts of kindness.

Nope.

stephcarter · January 2014

Hmmm maybe since she defined it as "escrow check" rather than "good faith" or "earnest deposit" we have a better shot?

stephcarter · January 2014

They had us make it out to Remax of Cherry Hill, the sellers agents office

Mrs_Lady · January 2014

DP should be at escrow and GF money usually is really low..not that it does not hurt if you lose GF but not as high as DP. I hope it all works out for you soon!

stephcarter · January 2014

Not really. He's consulting his boss, the mortgage agent, and their lawyer.

Ive been reading and I'm not even sure we can get the mortgage with the failed septic system. If that's the case, I think we can get our money back.

I don't know. So stressful.

chricast · January 2014

Steph when we bought our house 7 years ago our seller agent was also remax in cherry hill they didn't make us do that but we also mortgaged the down payment I think as first time home buyers we were able to. Our septic was also shot when we got our home inspection in addition to problems with well water. The seller was required required to fix the well problems before closing and they escarowed the entire cost of the septic (we used Sarapa septic and it cost $12,000) in the contract it said they had to return the yard to its prior state (ie the beautiful grass that was there) so we had nice sod put down and on our own put in a sprinkler system while the yard was ripped up. I really hope something works out for you. It sucks that now you have to get lawyers involved. If the house wasn't listed in "as is" condition they should be helping out.

stephcarter · January 2014

I think because the house is as-is they aren't required to fix it. But we may get denied for the loan because of it.

DH isn't worried at all. He said if it comes down to it, we buy it and fix the septic system. I'm panicking.

Rachelilly23 · January 2014

I also know nothing about real estate but I'm sorry you're going through such a stressful situation with it. I hope things turn around!

stephcarter · January 2014

Thanks everyone.

Our agent has been chatting with the mortgage broker. From what I've been reading they might not approve the loan with the septic tank being shot anyway.

stephcarter · January 2014

if the mortgage gets declined and they don't give us back the money, thats what we'll have to do @BandEddie. We've already spent close to $1,000 and we aren't attempting to get that back, just the escrow check. If we don't end up with the house, and i just don't see them fixing the septic for us, I feel bad that someone else is going to spend their money on the same inspections now.

The septic system is from 1974! There is no way they didn't know it was a problem. DH had scheduled that inspection before the window had closed, but they couldn't get out there to look because the ground was frozen

Want a personalized experience?

Home Inspection

Re: Home Inspection

Choose Another Board

Search Boards