No, the seller has obligations, which they are contractually bound by. I see they do have places now, for the seller to cap off the $$ amount for certain standards. This does not relieve them from their contractual obligations. Since they now have $$ amount caps. I would say you're right, once the contractual obligation is fulfilled.
Every state has this addendum, which _must_ be signed by both parties, in order to go FHA.
Yes it says seller will pay _____ . Seller can write in $0. That means house sold "as-is". They can't force you to spend anything. The last line has the option to reject the addendum. Seller simply signs that and house is still sold "as-is". Lender and/or buyer can walk away but seller is under no obligation to fix anything. See you learned something today. If I were selling my home right now and that sheet came in front of me I'd write $0 for repairs and sign the rejection option.if a number was written in there I didnt like. . Pest inspection is standard for seller so that is no biggie. So aren't you wiser now. MAybe next time you sell a house you'll get a lawyer and not get ripped.
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Goodness Jim, I don't like to name call, but you're a simpleton.
The OP is doing this work, because obviously they filled in a $$ amount.
If you reject selling FHA, that's no biggie. We ARE talking about the OP's case, exactly what is over your head here?
Look, if you say your willing to sell FHA, then reject it, you won't sell FHA. Didn't I tell you b/4, you either do, or don't?
You can't sell FHA as is, you must meet their minimum standards. What don't you understand about this?
You can't even figure out how to post, LOL, and here you are trying to tell someone how to sell FHA. You definately made my night! LOL, thank you!
Jim isn't posting in HTML, Oscar -- if he were, I'd see the tags, because my newsreader doesn't render HTML. If you're seeing what you think is HTML in Jim's posts, it's because of a configuration problem on *your* computer, not his.
If there was a number the OP did not mention. It sounds as if he is being jerked around by an inspector. I agree there should be no complaint if he signed that form and there is a dollar amount in that blank. I'm sorry you got ripped off . You just cant understand that other than C.O . and temites a seller really has no legal obligation to fix anything. The buyer and lender are free to walk. FHA, DOT, BBC, NYC, TNT, DDT whoever cannot force anyone to fix anything unless it is agreed to in a contract.
Your problem varies, depending on the state you are in. Some license lead inspectors and others don't. Until recently, one required licensed inspectors but didn't have an inspection licensing process in place and couldn't issue licenses but did accept licenses from other states (go figure).
In general, licensing has a couple of levels: one being a sampling technician and the other being a risk assessor. There are also clearance techs but that's an unlikely cred for someone doing an inspection.
So here are your issues: First, the house was scraped and painted in the 1980s. Fine. But it's unlikely that you used interim controls and there is probably lead in the soil. If he identified that on his first visit and doesn't see any changes when he returns, he'll fail you before he gets out of the car. That's issue #1. BTW, visible paint chips on the ground is an immediate failure.
Any chipping paint on "mouthable surfaces" is an immediate failure, but "chipping" has a wide definition. It can also be any wear on friction surfaces such as hallways or stairs. Alligatoring is also a no-no. Therefore, windows are your biggest problem.
Your best bet might be to get your own risk assessment. That'll run you $500 to $1000, depending on where you live. Then you have a baseline. It also means that if there is lead poisoning later, you have some baseline documentation of the risk.
As for comments about all paint must be removed, etc. That is wrong. In almost all situation, interim controls are fine and abatement would be very rare. Groups I work with rehab 300 to 400 homes a year using Federal money and there hasn't been a single abatement job that I know of.
As for what he's looking at, I believe (but am not entirely sure) that you have a legal right to a risk assessment and/or lead paint report done on your premise.
BTW, once you have knowledge of LBP (whether is it there or not), you are legally required to report that information to all tenants and all buyers. So if you know you removed lead in the 1980s, you're required to tell them that.
You're right, I owe an apology.
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I owe you an apology, accusing you for posting in HTML. Thanks to Doug for pointing it out.
Sorry Jim! I got carried away. But, I'm still LOL, guess the LOL is on me. Have at it!
Back to about the obligation. If someone wants to sell FHA, and can't meet FHA minimum standards, then they're not going to sell FHA. They wasted everyone's time. Just say upfront, no FHA/VA. There's no reason to play games.
Are you drunk? If you agree to sell to someone who is financing through FHA, you are NOT agreeing to do a damned thing except complete the sale IF the house passes inspection and you comply with FHA guidelines. You are under NO obligation to fix anything. If your house fails to meet their stipulations, you can just shrug your shoulders and walk away from the deal.
Nothing in that addendum legally compels the seller to fix anything unless he wants to complete the sale. If the seller wants out, all he has to do is... NOTHING. He cannot be forced to fix so much as a dripping faucet if he decides he doesn't want to complete the sale.
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Yep. Use of a lawyer in residential real estate transactions is definitely a regional thing. Common in New England and a few other places.
Oscar wrote: ...
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It begins life as an addendum to a contract _OFFER_; it doesn't comprise an enforceable _contract_ until executed by both parties.
Not only does it have the provision for limitation of cost of repair to seller, look at the bottom--there's even a provision for counteroffer from seller.
Again the reason for having counsel before jumpin' in--they know the groundrules under which the game is played so to protect yourself from inadvertently committing oneself to a sizable problem. And, of course, they solve the COI problem of not having an agent actually representing your own interests.
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Good grief, now I have to explain what an addendum is. No, I won't be a teacher here. Read the top, let it soak in. Then read the entire addendum, not what you just want to read. Maybe pay particular attention to item 6, now you have to know what REPC is, well I do, and you apparently do not.
The didn't start fixing stuff on their own, obviously after going through offers/counter offers, then acceptance, they started their painting.
MEGO
You do not know what an addendum is. Good grief, its in addition to a contract offer.
I understand offers/counter offers, apparently you don't. The OP started doing the work, not out of the kindness of their heart, but because at some point there was an offer & acceptance. For some reason, you overlook of why they are doing the work.
The OP isn't fixing stuff out of the kindness of their heart. It's obvious their was an offer & acceptance at some point. They have obligations to fulfill, which they are attempting.
Walk away? I'm sure they can, and be prepared to go to court for breaching a contract.
Nope. They can constructively walk away by not making any more efforts to rectify whatever the inspector imagines is wrong. At that point they won't be breaching any contract. The agreement was that the sale would be consumated if ceratin conditions and stipulations were met and resolved.
EOS
Maybe it is. When I was buying and selling a couple of houses about 5 years ago in NC I was told I had to have a lawyer to complete the deal. I even had 'cash' money and still could not buy a house without the lawyer.
I most certainly _do_ know what an addendum is...and, in fact, that's what I explicitly said. Again, there was an offer; there's not a contract of which this addendum is a part _until_ there are valid signatories.
We (at least I) don't know that for certain--it was never stated explicitly or if it was I didn't see any statement to that fact.
_IF_ (the proverbial big if) OP did sign an essentially open-ended contract then he can only reap what he has sown and his best option is again to get guidance from somebody on his own nickel to help in demonstrating that the supposed defect has been adequately taken care of.
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