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Repairs Are Written Into The Contract When You Buy Or Sell A Home
Any negotiated repairs are agreed to and then added into the formal contract. Buyers can sign the contract with the provision of the repairs being done before closing. The repairs are not typically done right after the contract, as sellers need to time arrangements with their contractor. Prior to closing, the sellers are to provide a 'paid in full' receipt from their contractor and the buyer will see that the work has been done at the final walk-through due to their satisfaction.
If the seller does not do the work that was agreed into in the contract, then the attorneys have to speak about what to do. I have never had a home seller not do any of the work that was negotiated into the contract. If the failure to comply, the attorneys might have to ask for the seller to escrow the cost to repair the address plus a overcharge percent (based on an estimate), ask for price reduction or try to negotiate a credit toward closing costs.
In the Danbury,CT area, consult with your real estate professional when you are discussing repair items to go back to the seller after the inspection. I generally only recommend addressing health and safety issues that one can not see when touring the home. We ... more
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