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®.
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