House Update #3

Well, I would be surprised if the house deal went through.  The other day our mortgage was approved and the appraisal was done.  We arranged to have the rest of our down payment sent to the bank.  However, at around 4pm yesterday our real estate agent sent new disclosures from the owner!  All parties (buyer and seller) had signed off on the disclosures last week and I gave them to our real estate agent Tuesday.  That should have been it.  The original disclosures stated that the seller was exempt from disclosing most things since he had inherited the property from his parents.  That was fine with us, and we thought that was the truth.  But the seller’s agent on Friday, after everything was agreed to and we were about to sign off on the deal, said that the owner was actually NOT exempt, thus the new disclosures.  So before he did not know anything about the condition of the house, and now he does since it was made clear he was now legally obligated to tell us.  There were a couple of new things on the disclosure that, while not deal breakers, were still of some concern.  However, what concerned Doug was that this seller had been lying to us, since it turns out that we were told that he had just inherited the house, he has owned it longer than that.  We were also told that the seller did not know the condition of the floor under the new carpet.  We figured that might be true since he, after all, had inherited the house.  However, he must know the condition since he has owned it over a year.  The original disclosure also said that the roof was five years old.  Now the new disclosures state that it was two years old.  While this would be good, we have to wonder what the seller is doing.  He is legally obligated to give us factual information on the disclosure. 

Doug is mad enough about this that I doubt we will go ahead with the house.  Once he makes up his mind, it is nearly pointless to talk him out of it.  Besides, I don’t want to move into a house that he now dislikes.  It will just lead to problems down the road.  I don’t like the idea that the seller lied, but my (pessimistic) view of it is everyone lies especially when it comes to real estate.  He was just caught.  Should it be a deal breaker?  I don’t know.  But I do know that we have spent lots and lots of time working on this deal and I have even been packing (the close date was supposed to be Jan. 3).  We’ve also given our 30 day notice to move from here…

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3 Responses to House Update #3

  1. Laura says:

    Kevin,
    I think what you said is true…he was caught.  He wanted to make sure that you didn\’t sue him for anything that you have found.
    I think you can sue up to 5 years from the date you sign.  I would try and make a deal with him for a little lower price than what he was asking now.  If he really wants to sell and it is meant to be yours, I don\’t think it would be a problem.  You could also ask for
    a maintenance agreement of some sort.  Although, I don\’t know if that applies in California.
    I hope things work out.  I know how much you liked the place.

  2. Kevin says:

    Hey Laura!  We will have an insurance policy for things in the house for the first year, which is paid for by the owner.  As it looks now, we are going to buy the house.  The problem isn\’t with the house, it is with the owner and his agent.  We both like the house.  And I really don\’t feel like unpacking!  🙂
     

  3. tim.state says:

    All things happen for a reason, Kevin. I\’ll keep my fingers crossed that it all works out as you anticipate!XOXO,Tim

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