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Buying or Selling a Home/contract cancelation
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Question
HI DEAR , HAVE A QUESTION , I HAVE A SINGLE FAMILY HOME CONTRACT ON MY HAND AND EVERY THING HAS BEEN DONE AND IS GOOD TO GO AND NEXT WEEK IS CLOSING DAY BUT SELLER IN NOT WILLING TO FIX REPAIRING STUFF ACCORDING THE INSPENTION DUCUMENTS. IF HE DOES NOT SHOW UP AND FIX THE ISSUE CAN I HAVE THIS HOME BY LAW . THANKS SEAN
Hi Sean,
Did the seller agree, in writing, to repair the items that you refer to? If so, you have the option to not go ahead with the purchase and get your earnest money refunded to you. If the seller did not agree to the inspection repair items, them you can either move forward with the contract or walk away, provided you are still within your Inspection Resolution period. If the seller is the party that did not perform to the contract then your recourse is really only to cancel the contract and get your earnest money back. You can not have the home for free because the seller didn't fix a few things. If the seller is not performing I would have your real estate agent negotiate on your behalf for some sort of price concession or closing cost credit.
Good luck!
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- Dick Dennis
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Jay Denit
Expertise
I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.
Experience
My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.
Organizations
BARA- Boulder Association of Realtors
NAR- National Association of Realtors
CAR- Colorado Association of Realtors
Education/Credentials
Xavier University-- BSBA Finance
Colorado State University-- Professional Certificate in Project Management
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