Home Purchase - Sellers Request Help with Repairs

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9liner
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Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 4:53 pm

The DW and I are purchasing a home and we are set to close on the 25th of October. During the home inspection process it was discovered that the septic system was basically non-functioning. As part of our response to the inspection report, we requested that the sellers remedy the septic system to which they obliged (in writing). This was two weeks ago.

Today we were contacted by our agent who says that the sellers are requesting (not demanding) that we help with the cost of the septic system. They claim that they were not aware of the potential costs for the replacement of the system ($10,000) and are looking for any type of help possible. They realize that we are not legally obligated to do so, however, they would like us to forego the 1% closing assistance (approx $3900) in the contract in return for fixing the septic.

I spoke with the wife. Her response was an emphatic "no". I feel the same way and I don't think we're necessarily in a financial position to just give up almost $4000.

Are we totally out of line for not expecting this to be our responsibility? I'm all about being cordial, but at some point, you have to treat this purely as a business transaction.

"It's not personal, it's business"

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serbeer
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Re: Home Purchase - Sellers Request Help with Repairs

Post by serbeer » Thu Oct 11, 2018 4:59 pm

You are right, not your problem to solve

HEDGEFUNDIE
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Re: Home Purchase - Sellers Request Help with Repairs

Post by HEDGEFUNDIE » Thu Oct 11, 2018 5:00 pm

What if you help them fix it and then the deal falls through before closing? Will they refund you the money?

Just walk away.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 5:30 pm

HEDGEFUNDIE wrote:
Thu Oct 11, 2018 5:00 pm
What if you help them fix it and then the deal falls through before closing? Will they refund you the money?

Just walk away.
No money would be changing hands prior to settlement. Our "concession" would be us forgoing the closing assistance. You do raise a good point though.

mouses
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Re: Home Purchase - Sellers Request Help with Repairs

Post by mouses » Thu Oct 11, 2018 5:35 pm

If something were going on like the sellers were elderly and poor I might fork out $2000 at closing. It depends on how much $4000 is to you, the price of the house, etc. It sounds like you can't afford $4000 though.

delamer
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Re: Home Purchase - Sellers Request Help with Repairs

Post by delamer » Thu Oct 11, 2018 5:38 pm

I agree with the hard “no.”

Also, it is hard to believe that the septic system was in such bad shape that it could be described as “non-functioning” and that the sellers had no idea that there was a problem.

dknightd
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Re: Home Purchase - Sellers Request Help with Repairs

Post by dknightd » Thu Oct 11, 2018 5:42 pm

Buying a house is personal. If you don't think the house is worth 1% more, then say no.
If you still want the house, with a working septic system, say yes.

megabad
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Re: Home Purchase - Sellers Request Help with Repairs

Post by megabad » Thu Oct 11, 2018 5:44 pm

9liner wrote:
Thu Oct 11, 2018 4:53 pm
"It's not personal, it's business"
+1 agree with you here OP. You have your family and finances to worry about. If you don't feel like the house is worth another $4k than don't move forward (assuming you have an inspection contingency that allows you to get earnest money back). No issues there. If you do feel it is worthwhile, make sure you get documentation that all repairs were done right and get the contractors info.

rebellovw
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Re: Home Purchase - Sellers Request Help with Repairs

Post by rebellovw » Thu Oct 11, 2018 5:45 pm

I agree with the previous post. Depends on the house - did you get a great deal? Was at a steal? If the price was already high (at a premium) - then yes - I would make them pay for it or pretty close to the full cost of it (ex credit you.)

But if this is a sweet deal - great house - great price - I'd think about it and likely negotiate.

ResearchMed
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Re: Home Purchase - Sellers Request Help with Repairs

Post by ResearchMed » Thu Oct 11, 2018 5:46 pm

delamer wrote:
Thu Oct 11, 2018 5:38 pm
I agree with the hard “no.”

Also, it is hard to believe that the septic system was in such bad shape that it could be described as “non-functioning” and that the sellers had no idea that there was a problem.
This ^^

One *knows* if the septic is "functioning" or not......

And the sellers accepted responsibility for fixing it, full stop (assuming there was indeed no limit on time/cost).

If so, it's entirely their problem/cost.
It was their responsibility to find out the cost before agreeing to do this.

It's one thing to agree to help with a minor cost, or take it over oneself, to facilitate the closing. But this is something else entirely.

RM
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8foot7
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 8foot7 » Thu Oct 11, 2018 5:47 pm

Look at it this way. If you don’t buy the house, the sellers will have to make the repairs anyway in order to stay on the market and there’s no way a future buyer would be asked to pay for the septic repair. They’re only asking because you’re kind of in the transaction now. Feel free to say no, or if you’d rather, have the repair done yourself and deduct all out of pocket from the price at settlement.

adamthesmythe
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Re: Home Purchase - Sellers Request Help with Repairs

Post by adamthesmythe » Thu Oct 11, 2018 5:48 pm

The sellers have already agreed to deliver the house with a repaired septic system at no cost to the buyers.

Consider a concession only if you got a really smokin' deal, so good that you couldn't believe you were so lucky, so lucky that you already feel guilty.

Otherwise stick with the deal as negotiated. Remember, the sellers will not be able to sell this to anyone else without fixing the septic.

lukestuckenhymer
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Re: Home Purchase - Sellers Request Help with Repairs

Post by lukestuckenhymer » Thu Oct 11, 2018 5:51 pm

Walk away.

mortfree
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Re: Home Purchase - Sellers Request Help with Repairs

Post by mortfree » Thu Oct 11, 2018 5:52 pm

Walk away.

Let them fix it

Try to buy again.

delamer
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Re: Home Purchase - Sellers Request Help with Repairs

Post by delamer » Thu Oct 11, 2018 5:53 pm

rebellovw wrote:
Thu Oct 11, 2018 5:45 pm
I agree with the previous post. Depends on the house - did you get a great deal? Was at a steal? If the price was already high (at a premium) - then yes - I would make them pay for it or pretty close to the full cost of it (ex credit you.)

But if this is a sweet deal - great house - great price - I'd think about it and likely negotiate.
The last minute finding of a “non-functioning” septic system make me suspicious that the sellers aren’t acting in good faith.

I wouldn’t negotiate.

rebellovw
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Re: Home Purchase - Sellers Request Help with Repairs

Post by rebellovw » Thu Oct 11, 2018 5:54 pm

More details please - what is the house worth? - comps? - what did you negotiate for the offer they accepted (price wise)? What year was the house built?

retiredjg
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Re: Home Purchase - Sellers Request Help with Repairs

Post by retiredjg » Thu Oct 11, 2018 5:55 pm

I wonder if the agent(s) involved have steered this issue in the wrong direction.

It seems to me the easiest solution is to just lower the contract price. The problem is that lowers the agent's commission so some would not be willing to make that suggestion. Unwitting sellers and buyers could easily just go along.

I don't know exactly what "closing assistance" is so can't comment on that.

Find an easy and logical solution if you want the house.

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Doom&Gloom
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Doom&Gloom » Thu Oct 11, 2018 5:58 pm

Agree with all the "no" votes.

You will find enough to do after you move in without having to worry about a known issue that should not have been an issue at the sale.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 5:59 pm

rebellovw wrote:
Thu Oct 11, 2018 5:54 pm
More details please - what is the house worth? - comps? - what did you negotiate for the offer they accepted (price wise)? What year was the house built?
They were asking $399k. We settled on $392 + 1% at closing. Comps are pretty much in the 400-450k range for the area. VA Appraisal came in at $425k.

I wouldn't call it a steal. I 'd say we are paying a fair price.

rebellovw
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Re: Home Purchase - Sellers Request Help with Repairs

Post by rebellovw » Thu Oct 11, 2018 5:59 pm

delamer wrote:
Thu Oct 11, 2018 5:53 pm

The last minute finding of a “non-functioning” septic system make me suspicious that the sellers aren’t acting in good faith.

I wouldn’t negotiate.
Yeah depends on ones ability to judge the house and the sellers. Also - what is non functioning septic system mean? I'd "assume" there is some major stench in that house - as that would likely mean leaking/failing system. Need more info.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 6:00 pm

Doom&Gloom wrote:
Thu Oct 11, 2018 5:58 pm
Agree with all the "no" votes.

You will find enough to do after you move in without having to worry about a known issue that should not have been an issue at the sale.
This is precisely what I was thinking. We already have a list of things we want to do to make the house our "home".

rebellovw
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Re: Home Purchase - Sellers Request Help with Repairs

Post by rebellovw » Thu Oct 11, 2018 6:00 pm

9liner wrote:
Thu Oct 11, 2018 5:59 pm
rebellovw wrote:
Thu Oct 11, 2018 5:54 pm
More details please - what is the house worth? - comps? - what did you negotiate for the offer they accepted (price wise)? What year was the house built?
They were asking $399k. We settled on $392 + 1% at closing. Comps are pretty much in the 400-450k range for the area. VA Appraisal came in at $425k.

I wouldn't call it a steal. I 'd say we are paying a fair price.
Agreed. You shouldn't have any issues at that price - you are not way off. I'm sure the Appraisal would come in less if the septic system was known about.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 6:02 pm

By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.

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fishandgolf
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Re: Home Purchase - Sellers Request Help with Repairs

Post by fishandgolf » Thu Oct 11, 2018 6:04 pm

retiredjg wrote:
Thu Oct 11, 2018 5:55 pm
I wonder if the agent(s) involved have steered this issue in the wrong direction.

It seems to me the easiest solution is to just lower the contract price. The problem is that lowers the agent's commission so some would not be willing to make that suggestion. Unwitting sellers and buyers could easily just go along.

I don't know exactly what "closing assistance" is so can't comment on that.

Find an easy and logical solution if you want the house.
+1000

If you really like the house........I agree with retiredg.......try to work it out........I would throw them a bone..........$1500.00.... : :wink:
Last edited by fishandgolf on Thu Oct 11, 2018 6:08 pm, edited 1 time in total.

Goal33
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Goal33 » Thu Oct 11, 2018 6:04 pm

Forgo the 4k at closing if they can lower the price of the house to 388 :)
A man with one watch always knows what time it is; a man with two watches is never sure.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 6:06 pm

fishandgolf wrote:
Thu Oct 11, 2018 6:04 pm
retiredjg wrote:
Thu Oct 11, 2018 5:55 pm
I wonder if the agent(s) involved have steered this issue in the wrong direction.

It seems to me the easiest solution is to just lower the contract price. The problem is that lowers the agent's commission so some would not be willing to make that suggestion. Unwitting sellers and buyers could easily just go along.

I don't know exactly what "closing assistance" is so can't comment on that.

Find an easy and logical solution if you want the house.
+1000

If you really like the house........I agree with retiredg.......try to work it out........I would. : :wink:
So just to clarify, The sellers have not threatened to walk away. They understand they are legally obligated to fix the issue since they signed on the dotted line. They are basically asking for us to split the cost of the repair.

BuffaloBill21
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Re: Home Purchase - Sellers Request Help with Repairs

Post by BuffaloBill21 » Thu Oct 11, 2018 6:07 pm

I don’t understand all the “walk away” suggestions or the suggestion of it being a “last minute” finding. OP said it was discovered during inspection, Seller agreed to fix the issue. This must have been negotiated into the purchase and sale contract right OP?

Seller is asking for assistance, I would politely decline. It’s their problem, whether it’s you or the next Buyer nobody will take this non-functioning septic without a major price reduction or the system being brought into compliance.

delamer
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Re: Home Purchase - Sellers Request Help with Repairs

Post by delamer » Thu Oct 11, 2018 6:09 pm

9liner wrote:
Thu Oct 11, 2018 6:02 pm
By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.
Best case then is willfull neglect. Makes me wonder what else was neglected.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 6:10 pm

BuffaloBill21 wrote:
Thu Oct 11, 2018 6:07 pm
I don’t understand all the “walk away” suggestions or the suggestion of it being a “last minute” finding. OP said it was discovered during inspection, Seller agreed to fix the issue. This must have been negotiated into the purchase and sale contract right OP?

Seller is asking for assistance, I would politely decline. It’s their problem, whether it’s you or the next Buyer nobody will take this non-functioning septic without a major price reduction or the system being brought into compliance.
Correct. The contract had an inspection contingency. After the inspection revealed the issue, the sellers signed a contingency stating that they would rectify the situation. According to my agent, they had no idea that the repair estimate would come in as high as it did.

9liner
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Re: Home Purchase - Sellers Request Help with Repairs

Post by 9liner » Thu Oct 11, 2018 6:11 pm

delamer wrote:
Thu Oct 11, 2018 6:09 pm
9liner wrote:
Thu Oct 11, 2018 6:02 pm
By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.
Best case then is willfull neglect. Makes me wonder what else was neglected.
The house was a total gut and reno in 2012. Surprisingly, there were no other major issues with the inspection.

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HueyLD
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Re: Home Purchase - Sellers Request Help with Repairs

Post by HueyLD » Thu Oct 11, 2018 6:11 pm

delamer wrote:
Thu Oct 11, 2018 6:09 pm
9liner wrote:
Thu Oct 11, 2018 6:02 pm
By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.
Best case then is willfull neglect. Makes me wonder what else was neglected.
Very well said.

ResearchMed
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Re: Home Purchase - Sellers Request Help with Repairs

Post by ResearchMed » Thu Oct 11, 2018 6:15 pm

9liner wrote:
Thu Oct 11, 2018 6:11 pm
delamer wrote:
Thu Oct 11, 2018 6:09 pm
9liner wrote:
Thu Oct 11, 2018 6:02 pm
By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.
Best case then is willfull neglect. Makes me wonder what else was neglected.
The house was a total gut and reno in 2012. Surprisingly, there were no other major issues with the inspection.
This is worrisome.

Some gut/rehabs are done by owners, almost lovingly (well, sometimes...).

But some are done by flippers and all they care about are the things that can be "seen", which would exclude septic if not actually overflowing, but also... other problems that can be concealed.
Having a septic system in such disrepair (it's not 'just pumping needed') suggests lack of concern during renovations.

RM
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fishandgolf
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Re: Home Purchase - Sellers Request Help with Repairs

Post by fishandgolf » Thu Oct 11, 2018 6:21 pm

OP......do you and your wife like.......and want this house? Are there other homes in the area that you like...are there other options?

I take it that you guys really like this house.....otherwise you would not have started this thread....

My advice..........work it out with the seller. You really do want to have an amicable settlement with them..........you might not know it now....but in time....you will.
Last edited by fishandgolf on Thu Oct 11, 2018 6:27 pm, edited 1 time in total.

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Watty
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Watty » Thu Oct 11, 2018 6:26 pm

There is something funny going on.

What I suspect might have happened was that they might have agree after being told that the current system could be repaired and not need to be entirely replaced. Once the work started it might have turned out that it was a lot more expensive and the entire system needs to be replaced.

The big problem may be that the contract was written badly and did not take this possibility into account. It could be that if the contract was handled badly then it would make sense for the real estate agent to also take a reduced commission because they were partly at fault.

I would also assume that if there were not a lot of details in the contract then the seller would just cut corners however they could and put in the cheapest septic system possible and that might cause you problems for years to come. This could be a situation when you might win by playing hardball but could lose in the long run if the work is done badly. They may also do very little to repair the landscaping after the septic system is replaced.

It was a different situation but I once bought a house and the roof failed the inspection and it needed to be replaced. What we worked out was the seller would pay something like 25% of the cost of the roof replacement and the other 75% would be reflected in an increased selling price. This was reasonable since the house was priced with having an obviously older roof. The money was actually held in escrow and I hired the roofers after I moved in so I could control the quality of the materials and work that they did.

I would expect that the house you are looking at was also priced with an obviously older but presumably working septic system that turned out not to be working. If it had a new septic system put in before the house was put on the market then it would have likely been listed and sold for a higher price.

I'm not sure what the options are with the way the contract is written but if you do not want to give a concession then one reasonable option for the seller would be cancel the sale then to fix the septic system and then put the house back on the market at a higher price since it has a new septic system.

There are lots of arguments about what is "right" or "fair" but one thing to consider is what you will do if this deal falls apart. A few things to consider;

1) You have likely already spent well over a thousand dollars on the inspection and appraisal so you would be out that money and will have to pay that again for the next house you make an offer on.

2) If you have already locked in an interest rate on a mortage then you may lose that rate and pay a higher rate if you buy a different house a month from now.

3) If you are renting and scheduled to move out by the end of the month then you may need to find temporary housing until you can buy some other house.

If the deal falls apart you could be out a lot more than the $3,900.
9liner wrote:
Thu Oct 11, 2018 4:53 pm
they would like us to forego the 1% closing assistance (approx $3900) in the contract in return for fixing the septic.
You might want to figure out if there is some sort of other concession that might make this more of at least partially a win/win situation. For example you might give up some of that if you can also get a more favorable closing date(if that matters to you) and be able to approve the design of the new septic system and the landscaping repairs.

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pondering
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Re: Home Purchase - Sellers Request Help with Repairs

Post by pondering » Thu Oct 11, 2018 6:28 pm

How much would you offer for the house if the disclosure had been made before you made the offer?
--Robert Sterbal | 412-977-3526 call/text

Scrapr
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Scrapr » Thu Oct 11, 2018 10:48 pm

As watty said I would kick in half and ask the seller agent for the balance. I also would ask lots of questions on the quality of the install/rebuild of the yard.

I suspect the seller agent knew this might poop up :P

Knowing this was a flip/demo/rebuild I might have a inspector for ea individual system in the home. HVAC/roof/plumbing/etc. I know time is tight. But better to push out the close than to live with regerts

mouses
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Re: Home Purchase - Sellers Request Help with Repairs

Post by mouses » Fri Oct 12, 2018 4:58 am

Now that I've read about the gut job and then this major problem shows up, I would run away, not just walk away.

I'm having an advanced septic system put in, a state requirement due to distance from a body of water. It comes with a notification system for things malfunctioning. I guess simpler systems do not have this notification feature? If so, I don't know how the homeowner would know there was a problem if nothing was backing up into the house or collecting on the surface of the ground. Still it sounds like the gut job was shoddy.

onourway
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Re: Home Purchase - Sellers Request Help with Repairs

Post by onourway » Fri Oct 12, 2018 5:07 am

I would take Watty's advice. Much more reasonable for both parties than all the flat 'no' answers.

topcatin
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Re: Home Purchase - Sellers Request Help with Repairs

Post by topcatin » Fri Oct 12, 2018 5:48 am

Have you done a normal inspection and structural inspection on the house? I wonder what other things are hidden. Did you have someone come and inspect and say it is going to cost $10000? Not worth it, walk away.

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jfn111
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Re: Home Purchase - Sellers Request Help with Repairs

Post by jfn111 » Fri Oct 12, 2018 6:07 am

Based on a lot of the responses I don't know how half these folks ever found a house that satisfied them. :shock:
The bottom line, once they signed the agreement closing the Inspection Contingency you are under no obligation to contribute to the new system. But... to ensure a quality job, if this is going to be a long term home for you, you might come up with some accommodation that has you kicking in a few bucks after you review the repair plan and the materials they are using.

chw
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Re: Home Purchase - Sellers Request Help with Repairs

Post by chw » Fri Oct 12, 2018 6:09 am

If you like house, and feel it's a good value at the agreed upon price, I would perhaps agree to offer around $1,000-$2,000. In return I would ask to review the septic installers plan and contract for work being done to make sure it's engineered properly, and shortcuts aren't being taken that may impact you down the road.

While you aren't obligated to pay anything, I guess you're already out of pocket for costs (inspection, lawyer, possibly mortgage application) to buy this home, as well as your time and effort to start the process all over again. It's a bitter pill to swallow, but paying a nominal amount of the repairs rather than walking, may make your life a bit easier since you were already well down the road to purchase the home.

Jags4186
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Jags4186 » Fri Oct 12, 2018 6:23 am

Just say no but perhaps offer to have someone you find come in, look at it, give you a quote, then take a sellers credit for you to repair. You don’t want them repairing this halfway then it being a problem after you move in. Look at how the responses to the “the AC broke 2 days after I sold my house” conversation went. Once you buy that house the sellers won’t want to hear squat from you. And believe me, you will find other things wrong with the house you’ll need to fix.

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BolderBoy
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Re: Home Purchase - Sellers Request Help with Repairs

Post by BolderBoy » Fri Oct 12, 2018 6:56 am

HEDGEFUNDIE wrote:
Thu Oct 11, 2018 5:00 pm
Just walk away.
This... Who knows what else is hidden from view?
"Never underestimate one's capacity to overestimate one's abilities" - The Dunning-Kruger Effect

mmmodem
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Re: Home Purchase - Sellers Request Help with Repairs

Post by mmmodem » Fri Oct 12, 2018 7:21 am

You're buying a home from a real person. This is not a business transaction, in my opinion. However, whether it is or not has no bearing on your response. You don't need to justify your position. You have to look out for your own family, first.

If it's a seller's market, you meet them half way and offer $1950. Consider you do gain a septic system that was recently repaired and should give you a few years reliable operation. If it's a buyer's market, and I assume it is given the appraisal, then the answer is no.

Dottie57
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Re: Home Purchase - Sellers Request Help with Repairs

Post by Dottie57 » Fri Oct 12, 2018 7:28 am

delamer wrote:
Thu Oct 11, 2018 6:09 pm
9liner wrote:
Thu Oct 11, 2018 6:02 pm
By non-functioning, I mean, the tank is full, both the line coming from the house to the tank and from the tank to the leech field are in disrepair. The system still drains to the tank however, there are some large leaks in the system. Nothing backing up into the house.
Best case then is willfull neglect. Makes me wonder what else was neglected.
+1

researcher
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Re: Home Purchase - Sellers Request Help with Repairs

Post by researcher » Fri Oct 12, 2018 8:33 am

9liner wrote:
Thu Oct 11, 2018 4:53 pm
During the home inspection process it was discovered that the septic system was basically non-functioning. As part of our response to the inspection report, we requested that the sellers remedy the septic system to which they obliged (in writing).
One mistake you made was requesting that the sellers remedy the septic system.
Their #1 motivation is to make the repair as cheaply/easily/quickly as possible.

Instead, you should have gotten quotes to fix the system and had the repair cost deducted from the final sale price.
This way, you could be in charge of picking reputable contractors and ensuring the work is done properly.

onourway
Posts: 1188
Joined: Thu Dec 08, 2016 3:39 pm

Re: Home Purchase - Sellers Request Help with Repairs

Post by onourway » Fri Oct 12, 2018 8:37 am

How, exactly, is this 'willful neglect?' If nothing is backing up into the house, and it took an inspection and a specialist on-site to determine that there were problems with parts of the system buried underground, it is not at all surprising that the owners were unaware.

If you are looking for a reason to get out of this transaction, go ahead and use this as the reason. If, more likely, you like the house and would still like to purchase it, I would work with the sellers. The house was priced with an aged septic system of unknown (but assumed functional) condition. It comes across to me as a little bit unreasonable that you want a brand-new complete re-fit for the same overall cost. You may have the right to burn the sellers like this, but it's not the right thing to do. You will be out a significant amount of time and money if you back out of the sale, and you will always wonder how good a job has been done if you tell them no and let them do the repair for you. I'd work with them to make sure the job is done right, and help shoulder some of the cost to do so. You are the one that stands to benefit most from this in the long run.
Last edited by onourway on Fri Oct 12, 2018 8:43 am, edited 1 time in total.

barnaclebob
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Joined: Thu Aug 09, 2012 10:54 am

Re: Home Purchase - Sellers Request Help with Repairs

Post by barnaclebob » Fri Oct 12, 2018 8:41 am

It really depends on how bad you want the house and if the sellers will be able to close if you don't pay up. Everyone loves to say "walk away" when people post about any problems with a house or say that this is a sure sign the sellers have done zero maintenance and the house is probably held up by a single half rusted nail. But some houses are pretty unique and worth going through some issues to buy. We bought a house last year and nothing that meets our criteria has come on the market since. That's not an exaggeration either.

Try to find out the situation of the sellers. Were you and they expecting a $2000 fix and got a $10000 bill? If so I might work with them since you are now getting a house that was better than advertised.
Last edited by barnaclebob on Fri Oct 12, 2018 8:42 am, edited 1 time in total.

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SquawkIdent
Posts: 418
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Re: Home Purchase - Sellers Request Help with Repairs

Post by SquawkIdent » Fri Oct 12, 2018 8:42 am

I think they should pay 100% to fix this issue. That is what they agreed too. I agree with the OP that this is a financial transaction. Don't let it become an emotional one. I am glad to hear your DW is in agreement with you on this because if she wasn't it would be a whole different issue.

That said, I would be somewhat worried about other possible issues with the house if this major one wasn't known. What else is gong on, if anything. I'm sorry but a home inspection is one persons opinion. Because of past experiences, I put a small to moderate amount of faith in them as there are so many disclaimers on the paperwork they use, they are ultimately not responsible for anything, IMHO.

Good luck and let us know how it all turns out. :sharebeer

cherijoh
Posts: 4945
Joined: Tue Feb 20, 2007 4:49 pm
Location: Charlotte NC

Re: Home Purchase - Sellers Request Help with Repairs

Post by cherijoh » Fri Oct 12, 2018 8:51 am

retiredjg wrote:
Thu Oct 11, 2018 5:55 pm
I don't know exactly what "closing assistance" is so can't comment on that.
After my mom passed away we sold her house. The buyer offered $2500 above asking price but wanted us to pay $5000 of their closing costs. So to us it netted out to an offer of $2500 below asking price. But the buyers didn't have to come up with as much cash at closing. In effect they were rolling some of the closing costs into their 30-yr mortgage. (Note: this only works if the house appraises well - the sale was in 2006 before the housing crisis).

I assume the OP is talking about something similar.

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