Buying or Selling a Home/Who is responsible

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Question
Hi....we found a house on LI NY, and the offer was accepted....yesterday we had the house inspected.....the roof is leaking, and the boiler is NOT working.
Who is responsible for either the repair or payment for this? The house in general is in very poor condition...we just love the area and style of the home. Please give us your input.
Thank you,
Carolann

Answer
Dear Carolann;
I am hoping that you are being represented by an agent in this transaction and that you have a standard contract. In most contracts there is specific wording regarding repairs on inspection items.  I can only speak to the wording that is in your contract and if this is not addressed you will need to talk to an attorney. In our state of North Carolina, the contract clearly states that the buyer has the right to inspect the home and can then make a repair request (and can request that the seller pay or the buyer can pay--whichever they want to do or to ask). The seller has the right to either fix or refuse to fix. If the seller refuses to fix (and/or pay for the repair)the buyer can decide to back out of the deal and get all of their earnest money deposit returned to them.  

My suggestion to you is to ask for the seller to repair these things or to pay for the repairs and see what the seller says.  If the seller does not want to pay then you should consult the attorney to see what your contract says and what your recourse is.  You might have the right to renegotiate the price of the home or to simply walk away.  Again...without seeing the contract, it is hard to know. (And, of course, I am not going to give you legal advice since that is not my place to do so.)

Good luck and best wishes,
Jessica Bryan

Buying or Selling a Home

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Jessica Bryan

Expertise

buying and selling process such as:
General questions from first time buyers
How to market a home
Why choose a REALTOR
How do I find a REALTOR
Should I consider buying or selling without a REALTOR--how much can I save
Should I remodel or move
How much can I expect to gain by fixing up my home before selling
Helpful tips when selling
Helpful tips when buying
finding a good mortgage loan
what is the difference between banks, mortgage bankers, and mortgage brokers
Questions from the general public, people thinking about getting their real estate license, newly licensed.
Fellow professionals who have interests in networking and how to get started
What is a market evaluation and how does it differ from an appraisal what are the different loan programs
services a REALTOR can perform
when to use a lawyer
when to use escrow
what are the regional differences in the buying and selling process
what is the MLS and how does it work
how can the layman access information on the web--listings and other information
These are just a few of the questions. I can suggest that if I am unable to answer a question I will refer the inquiry to a source that can.

Experience

Anyone who is in this business and who dedicates oneself to professionalism has continued to take classes and along with it,additional credentials, awards and honors. I can list a host of them, but my greatest accomplishments happen to be those of getting first time buyers (who didn't think they could afford to buy a home)into a home of their dreams. The look on their faces when I hand over the keys is worth all of the hard work.

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