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Recent real estate law questions
We purchased a house in Jan 2016 in WY. The sellers said
We purchased a house in Jan 2016 in WY. The sellers said there were no Material or Latent defects on their property disclosure statement. During the home inspection, we noticed water damage in the basement and inquired about the source. The seller said they had a heavy rain one day and the basement flooded but that they had a sump pump installed and a pump in the window well installed and have never had a problem with flooding since then. The home inspector said the water damage looks dry and like it wasn't an existing issue. Four months after closing the basement flooded a window well on the opposite side of the basement. We had a plumber come out and he said that not only is there no sump pump installed in this house but that the water is not from rain but it's actually groundwater and that without the presence of a sump pump in the basement will continue to flood due to the nature of the land the house is on. Are the sellers liable for not disclosing ground water flooding?
I have made an offer on a property and it was accepted by
I have made an offer on a property and it was accepted by the seller. Upon completion of a home inspection there are considerable concerns as to the condition of the property. What is the best way to approach the agent/seller for possible concessions to the price or addressing some of the deficiencies? Thanks in advance!
Im buying a home,contingent on FHA Mortgage. Question:who
Im buying a home,contingent on FHA Mortgage.Question:who will pay for the FHA Inspection made by the Lender(to see if the property qualifies as FHA)?I assume the Lender,correct?Question:Is and FHA Inspection more Rigurous than a regular Home Inspection?
I entered into a contract with a company that said they buy
I entered into a contract with a company that said they buy houses and pay the closing costs and it is a quick process. I signed the contract on May 10th. The contract stated that they had 14 days to have the home inspected. The contract also stated that it was being bought AS-IS. There is a clause that says the seller (me) will make sure the home is free of encumberances etc. We talked to several different representatives of this company, never the same person twice, and they all assured us that us still owing about $2000 on our mortgage and $313 in taxes and having an $1100 lien was "no problem" and that they would "pay those off the top of our offer". Several times we were told verbally the things owed were not a problem. They failed to make their inspection within the 14 days, however I did allow their inspector to look at and take pictures of the house on June 8. Their original offer of $40,000 suddenly became "null and void" and they sent us a ridiculous new offer to sign for $15,000. There is no way that we could afford to lose $25,000 so I did not sign the 2nd offer and I have told them I was going to seek legal counsel on this. So my question is, do we have a leg to stand on in order to get the original offer plus legal expenses if needed or should we cut bait and look for another business to offer the home to?
Counselor at Law
Seven siblings own their deceased mother's house in central
Seven siblings own their deceased mother's house in central Florida. The house was gutted by vandals but one sibling has moved in with his wife and child. He is working to restore the house to liveable state. Nobody wants to pay taxes on the house. Instead of losing it, or having it condemned for lack of plumbing, electrical ( only 2 working outlets at this point), he wants to bring the house back to its former glory...My question is, if all his siblings would agree to quit claim the house, would a home inspection be necessary as it would be titled in his name only? Object is to avoid unecessary regulatory intervention until the house is finished with new drywall and plumbing, etc.Thank you for considering this question. Best wishes to you!
Counselor at Law
My wife and I recently went into contract on a house and put
My wife and I recently went into contract on a house and put down $1500 for earnest money. My wife is having second thoughts and wants to back out. The inspection is scheduled for tomorrow. If we back out before the inspection will we lose the earnest money? But, if we wait until after the inspection can we claim that the inspection wasn't satisfactory or do we need to provide a specific reason why it wasn't?
We signed a home purchase contract with 10K earnest money.
we signed a home purchase contract with 10K earnest money. We don't want to continue the transaction anymore. We propose to split the EM and terminate contract. But seller does not agree. We are going to need go to court. do you think give them whole amount EM is good option, or go to court?
I have a signed contract, with a deposit at a title coView more real estate law questions
I have a signed contract, with a deposit at a title co escrow account, to purchase a house in Jacksonville FL. The owner has just listed the home again at a higher price, and, will not return calls.How do I complete this purchase? If not, how do I get my deposit back? (the title co requires authorization from both buyer and seller to return deposit)