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If buyer and seller agree on price and inspections fail can seller raise price to complete repairs needed?
Wiki User
∙ 14y ago
Yes and the Buyer can also walk.
Wiki User
∙ 14y ago
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What does the phrase 'selling house as is' really mean?
Selling a house "as is" means the seller is not willing to make any repairs or improvements before the sale. The buyer assumes the responsibility for any needed repairs or updates after purchasing the house. This can help the seller avoid investing time and money into fixing up the property.
Why are home inspections used prior to the selling of a house?
Home inspections are required to ensure safety and value both for the buyer and seller of a home. Inspections protect the seller from lawsuits and guarantees that both parties are aware of any issues that may exist prior to sale. Conversely inspections insure that buyers are protected from any preexisting conditions that may effect value and safety of a property.
When does a buyer extort money from seller for repairs?
Extorting money from anyone sounds slightly criminal. When a buyer knows, from a reputable inspector, for example, that repairs are required to a property, the buyer can request that the seller consider that expense in the sale price. Neither the buyer nor the seller is obligated to move forward with the purchase if no agreement can be reached over repairs.
How do you negotiate the price of a house?
1. Get sales pricing on comparable house sales in the same area. 2. Get a home inspection and provide seller with costs for repairs (materials + labor) to negotiate seller having repairs done or reducing house price. If you can do repairs you can save labor $. 3. Be prequalified for mortgage so that seller knows you are seriuos.
Do a house seller must fix all needs repairs discovered during thbe home inspections?
No. The Seller can agree to fix some, all or none of the issues discovered during a Home Inspection. Whatever is agreeable to the buyer and seller and is legal. Refusing to make repairs could result in a terminated contract - usually with no penalties. The original "Offer to Purchase" and the language within will govern specific issues. There several things for the seller and buyer to consider:Issues discovered during the home inspection that are "Material" and not "Cosmetic" must be disclosed to any prospective Buyer if they are not corrected.Lenders may require repairs as a condition for funding the loan.Laws vary from state to state on required disclosures and specific requirements so consult a local Broker and attorney, as deemed appropriate.
Is it legal for a buyer to request the seller who has offered credit for repairs to have a statement in the final paperwork indicating that the credit is for closing costs NOT repairs?
No how can it be leagel
True or False The assessed value of a home is always higher than its market value True or False The seller must fix all needed repairs discovered during the home inspection?
Both are false.
Can contractos do inspections when buing a home?
Contractors can certainly perform inspections when buying a home. In fact, it is recommended to hire a professional home inspector to assess the condition of the property before making the purchase. Contractors can provide expertise in specific areas such as electrical, plumbing, or structural issues, which can be invaluable in ensuring that the home is in good condition.
Can you buy a house as is?
Yes, absolutely!The buyer is going to want to see the house before purchasing it and you should be well enough acquainted with the house to point out any repairs that it may need. It’s important to note that complete seller disclosure is still required. If you sell “as is,” but fail to disclose all known defects, you may set yourself up for legal problems. In which case, buyers can perform inspections on the house. It’s in the seller’s best interest for the buyer be aware of what they are buying. In short, the buyer needs to know what “as-is,” is. Since cash buyers are often investors, their contingencies, if any, are more likely to be about hidden repairs. Most real estate purchase agreements will have a contingency statement allowing the buyer to cancel a contract should their inspections reveal problems that were not readily apparent.If you would like to buy or sell your home as is, We Buy Houses is the place to start.
When a car is sold to you and the seller hid information from you is he liable for any of the repairs?
Without a legal contract it is "Buyer Beware" or "Sold as is".
What is the definition of an as is residential real estate purchase in North Carolina?
You accept the property in the condition it is in at the time of the purchase. The seller makes no warranties and you can't make any claims against the seller to make repairs.
What does active CNT misc mean?
It means the seller has agreed to sell the property to a buyer but there are contingencies. Typically those would be inspections, financing commitment, appraisal and survey.
