Dear Sellers:

Although we have a signed, executed contract and have made it through the option period, title has not transferred and the house is still yours.  That means that the buyers expect (and are legally entitled) to receive the house in the same condition it was in when the contract was negotiated and signed.

Yes, the contract states the buyer is purchasing an "as-is" house, but that doesn't mean you can ignore any changes in condition that occurred since the execution date.  The pipe that broke during the recent cold snap and the resulting damage, ...  well, you are responsible for those repairs.  Not just to the plumbing, but the wet carpeting, too.

Dear Buyer's Agent:

Remember when I told you that it would be difficult to obtain an FHA loan on this property?  Remember, too, that I repeatedly told you the sellers would make no repairs?  Let me refresh your memory ... - check the contract.  We put it in writing.

We applaud your buyer for accepting the challenge of fixing, prior to closing, the issues raised by the FHA appraiser. We know the buyer really has his heart set on purchasing this home.  However, the sellers will not, as your buyer requested, pay for any of the repairs if this transaction does not close.  We have a buyer pre-approved for a conventional loan and a cash buyer waiting in the wings.  We are prepared to sign an amendment postponing the closing by one week to give the buyer time to complete the repairs, to have the appraiser back out, and to get the paperwork to the title company.

Dear Self:

Just another day in the life of a REALTOR®.

Lorrie Semler, e-PRO, GRI, SRES
Addison Resident/Addison Expert                                                      Subscribe Button
Real Service. Real Results. Real Estate.
Keller Williams - Dallas Premier
972-416-3417

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10 Comments on It's Still Your House....

JAN
13
2010
725,720 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Lorrie... sounds like you are having a great day!  BTW, if you like as-is FHA deals, try doing a short sale with an FHA buyer... let's just say they're fun.
10:34pm • #1
474,276 Points 12 Featured Posts Attended Rain Camp Called Shot Master

Only the best Realtors come through such experiences with aplomb.  You are one of them!
10:44pm • #2
JAN
14
2010
554,490 Points 9 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

Steve - No way! I'm leaving the short sales to you.

Sharon - I love that word, aplomb.  And sucks, you're too kind.
5:41pm • #3
JAN
15
2010
289,569 Points 27 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

A day in the life indeed! I hope most days aren't like this one though Lorrie!
1:58pm • #4
554,490 Points 9 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

Oh, Karen!  If you only knew.  Most days are worse!
8:36pm • #5
289,569 Points 27 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Oy vey!
10:29pm • #6
JAN
17
2010
306,599 Points 23 Featured Posts Localism Sponsor

I just had one where everything was done and the buyer walks at 4pm the day before closing. Of course, the poor seller was the one that had to do the repairs. Where do we get the fortitude to go on? It all worked out with someone else.  
10:52am • #7
554,490 Points 9 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

Ricki:  In this case, the buyer is paying for all the repairs BEFORE closing.  If he walks, he's given us a nice, free paint job among other repairs.
2:06pm • #8
JAN
19
2010

I liked your note to yourself. I need to write some notes to myself like that! LOL
7:37pm • #9
JAN
21
2010
554,490 Points 9 Featured Posts Localism Sponsor Hit Router Attended Rain Camp Called Shot Master

Russel: I talk to myself all the time.  Don't you?
7:39pm • #10

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Lorrie Semler, REALTOR® Addison TX 972-416-3417

Addison, TX

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Keller Williams Dallas Premier

Address: 12700 Preston Rd. #190, Dallas, TX, 75230

Office Phone: (214) 739-5500

Cell Phone: (972) 416-3417

Email Me

Ah, Addison! Not a city, but a "town." The Town of Addison. The best place to live and work in North Texas. There's something to be said about a place that doesn't take itself too seriously. Note the exclamation point in the town's name. Here you'll find the ruminations, rants and raves of one of the town's realtors and residents.



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