Quote:
Originally Posted by Leingod
Thanks buddy. I've already got my plan of attack. Seller cuts check at closing date for full amount to repair foundation or we back out of the deal. Not going to screw with foundation issues. Fix it properly or let some schmuck buy it 2 years from now for 1/3rd the cost.
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Lein,
I was a home inspector and a licensed contractor for years on the side of my day job as a Professional negotiator....
Your plan above is very good. But also consider that you may be better off to request repairs to be fully completed by a licensed foundation repair contractor before closing and then a favorable re-inspection report completed again as well. (Of course the Re-inspection to be paid for by the seller).
The reason a check at closing is less appealing is because there could be unknown hidden issues (rot, mold, termites, improper drainage) that the repairs would find.
I would think that just by asking for this, the seller will back out and you will get your earnest money refunded.
You won’t get your inspection fee refunded, but you can consider that as money well spent. You were certainly wise for insisting on an inspection...
-Sp