So my husband and I put an offer on a house. Since that time we have had the inspection and appraisal. Today we found out that not only was the previous owner letting his son stay there, but that there is actual damage caused by this person. What course of action do I have in this matter? Should or can I back out of the purchase? We are supposed to close in a couple of days and I am heartbroken over the situation. I mean I allready ordered blinds (300.00) paid for the appraisal and inspection (750.00), so if this fails I am afraid I am out over a thousand dollars. Any help would be great. Thanks, G

LisaB4657

Normally the seller is responsible for repairing any damage to the premises that occurs between the time you sign the contract and the date of closing. You will have to check your contract to make sure that this is the case in your situation. If so, then you can either postpone the closing until the seller makes the repairs or get an estimate for the cost of repairs and have that deducted from the sales price at the closing. I would go with the second option because then you can make sure that the repairs are done to your satisfaction.

CaptainForest

Technically you haven’t placed an offer on the house, but rather, entered into a contract to buy a house. But, I’m not going to drill you on the semantics.

What Lisa said is dead on. You best option here, move in on Closing, and deduct from the selling price the cost to repair the damage that the home owner’s have done. And be prepared for a possible fight on your hands if they try to challenge you. But you should look over your contract first (does it mention about who’s responsible for repairs). Logically, they are until the time of close since they still own the property.

Lotta

You should have a final walk thru before you receive the keys. At this time, document the damages and also take photos of the damage. You may want to have the sellers/real estate agent sign the document of the damages while they are there with you.