Expert: Connie Wildasinn-Broker,GRI,Realtor® - 8/7/2009

Question
My realtor got two estimates for roof repair, since the seller (a relocation company) will not repair, they offer cash at closing for repairs.  The day before closing I was attempting to schedule roofer, window folk to do the work, only to find out that the roofer now wanted twice the amount, stating I need a complete new roof, also in my walk through i found two other big items that will require repair--my home inspector didn't caught.  If I walk away without my earnest money can they still sue me. Can my realtor and his broker draw up a form or letter that I can be assure that they will not sue me later.

Answer
Hi Sharon,

You don't mention what state you are calling in from... but here in California, you can not be sued...the max the seller can collect is 3% of the purchase price ( on singel family 1-4 units) or the amount of the good faith deposit which ever is less... (the seller could go after you to complete the transaction on a specific performance law suite, but this is usually not the case, the cost is to high and many times the buyer can't buy in the end so they loose on all accounts, lost time, money and attorneys)

Do keep in mind that just because one roofer said something, I have found contractors to come in with numbers that are all over the board... high to low for same quality of work... you may want to get a couple estimates first... also at the end of the day... you get the Benefit of the new roof to use and enjoy while you live there instead of making those repairs when trying to sell.. better in the beginning...

I would not necessarily not buy due to a bad roof...

You don't mention the interior item the inspector did not catch... but again, most repair items are small compared to the price of a property... so really sit back ... try to remove your emotional side and evaluate the deal from a how much and benefit standpoint...

Now if the inspector didn't catch a bad foundation and the repairs are hundreds of thousands... that is something to think about... but in the end, I have found most repairs not to cost what most buyers believe (especially if you have not rehabbed property) keep a cool head and a good deal will prevail...

You can also try and get a couple more dollars out of the deal.. a re-lo co corp is easier to work with than most think ... they too have a vested interest to keep you in the deal and get the deal closed...

Good luck