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01-02-2011, 03:13 PM #1
Renter
- Join Date
- Jan 2011
- Posts
- 1
Buying from a relo company and wondering about repairs...
My wife and i have accepted a counter offer from a relo owned house and had the inspection done the other day. In the contract, we agreed that the relo company would pay up to $1500 in repairs. To my understanding of the contract, any repairs over that amount they will either fix, or they can terminate the contract. The only major issue found in the inspection is a crack in the bottom of the pool, which could cost a lot. Our agent talked to the listing agent and she "assured" us (before the relo company even knew what needed to be fixed and hadn't recieved the report) that they would complete most of the repairs because anything found in our inspection would now have to be disclosed to anyone else making an offer. Can anyone tell me if it's normal for relo companies to complete repairs, or should we not get our hopes up?
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01-03-2011, 06:20 AM #2
Moderator
- Join Date
- Sep 2007
- Location
- Outer Banks
- Posts
- 1,281
It really depends on the amount of activity the house is getting. If there are a lot of showings and they feel they can sell it to someone else who doesn't care about the problems then they might deny your request.
If there is not a lot of activity and the house has been on the market for a long time then they might bend over backwards to accommodate you.
Foreclosures around here sell pretty quick and the banks won't fix anything.Your Outer Banks real estate agent. Learn how to buy Outer Banks foreclosures.
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