Thursday, December 12, 2013

Sorry But You Have Closed

I write this brief blog based on my experience representing a buyer, a seller, and purchasing my own home. You close on your home, move into the home, and find a problem. What do you do? Recently I closed on a home representing the seller: The buyer had the home inspected. My seller complied with the inspection report and had items repaired. Seller provided buyer with all receipts. The buyer had concerns about the roof. My seller provided the buyer all receipts showing recent repairs. The buyer's agents did a walk through to confirm all repairs had been made. The buyers did a walk through the day of closing to check the home. Closing proceeded normally. The next day I received an email from the buyer's agent saying that the home was filthy and there appeared to be roof issues. Two weeks later I received another email from the buyer's agent showing me a roof leak in the attic. The home has closed. My seller is not under any further obligation to the buyer. My thoughts: Regardless of a proper home inspection, due diligence on the part of the buyer, and their agent, homes can still have problems. I would consider buying a warranty for the home. I would also make sure I had a very thorough home inspection. Home inspectors cannot see everything but I have seen buyers go for the lowest price inspector instead of the most experienced. My seller did not do anything to mislead the buyers. Unfortunately the buyers, and their agent, felt differently. It was a bad situation but: Sorry we have closed

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