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Inspection Indicates Repairs |
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the owner offer one price, i counter the offer, they accepted, after the inspection, there are a lot of repairs and replacement to do. do i have the right to ask for a reduction on the property? |
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If you have a written contract, the answer is in there. Sometimes it says you have the right to back out if you don't like the inspection report. In that case you'd be in a good position to negotiate, because you could always just refuse to buy.
Sometimes a contract says the seller will make repairs up to a certain amount, if required by your mortgage lender. That would come up later, when you had applied for financing.
A poorly written contract may not address the issue at all. In that case, all I can tell you is that you always have the right to ask for anything, but I don't know that you'd have the right to get it. At that point you might want to consult your own attorney. |
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Edith
Originally published on April 15, 2008 |
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