Thread: Major Issues Sale and Buy. Need Advice ASAP, Please please. 2weeks till closing

What should we do??? We are in the process of selling and buying a house in New Jersey. We are suppose to close in two weeks and have been hit on both ends.

On our sell we found out 2 weeks ago after we were under contract that our basement bathroom that my husbands mother put into the house 12 years ago but after he took possession was installed without a permit. We had to demo the bathroom and now the buyer wants compensation. It was never a finished or upgraded bathroom and we were able to save all the fixtures. We received 3 estimates from contractors that came in all from $5,500 - $5,800 to put the bathroom back legally. We are offering to pay the buyer that plus leave her the washer dryer plus we just re-lined the chimney due to a blockage that we found out. Which we could have ignored it but felt guilty doing so. Our buyer is refusing to accept anything less than $10,000 which we are feeling is crazy. What should we do? Not getting any guidance from our lawyer or realtor.

We demoed the bathroom as she requested to the tune of $2,100 so it was done right and the bids we got were to but the bathroom back legally with permits. We got 3 bids and were willing to offer her the full amount of the highest bid.

Also, She is 5 weeks late on her mortgage committment. We have a letter of approval from the bank but not the committment. So if she wanted out she could have gotten out plus if we have been very patient.

We are trying to do the most fair thing. Had we known the bathroom was illegal we would have removed it before listing the house. Now were are willing to offer her the cost of it as compensation but she is being ridicouls.

Now to our Buy...

We are buying a home in New Jersey and found out in our inspection that there were manythings wrong. Possible plumbing issues, window issues, electrical issues, inadequate electical amps (house only has 60amps currently and is 1500 square feet) plus the two major issues. A dangerous furnace and roof. We got a second inspection on both issues since the sellers were not willing to accept our home inspectors report which deamed them both as defective, dangerous and needing to be replaced. The furnace could cause carbon monoxide poisoning, fire or expolosion and the roof is leaking and has been patched too many times. Netiher of these items were disclosed at all in the sellers disclosure. Seller refused to fill out either section. We are asking to replacement of both or compensation. We asked for $7,500 as a minimum to replace both and they are only willing to offer us $3,000. When we tried to counter and give estimates they said they are not acknowleding any issues with either.

The sellers have to sell the house as part of their divorcee decree. Their neighbors house is similar but with different upgrades and also on the market for less than theirs and has been sitting on the market for 7 months now with no movement. Our realtor on the house is worthless. It is a shame but I wonder who she works for and we are getting very little guidance from our lawyer. We are just so lost and also having issues with our buy (see question entitled: Major Issues with Sale. Two weeks till closing... Need Advice ASAP Please!!! ) so I am trying to be fair but can not get stuck with everything. Thoughts?