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Updated over 9 years ago on . Most recent reply

Told issue fixed prior to closing 3 weeks after find it wasn't
So I have a quick question There was damage to the electrical boxes outside the home prior to closing that was found in both my inspection and in the FHA report. A tenet in one of the units (a triplex) had broken into the box and was stealing power from what we thought at the time was another unit but it turned out to be the power company. The seller told me they had fixed it and the FHA appraiser missed it the second time around (who was let go after my home because she made so many mistakes and was so slow to complete her job) and even I missed it on for two weeks but the problem was still present. Last Thursday the power company came by and yanked out there meters and told no one, I didn’t find out until the next day as I was calling to get power turned on for myself and a new tenant. I’ve received two quotes to bring the box back up to code of $2500 and $1300. I’m in the phoenix area and want to know is this a cost I just have to eat or is this something the seller should pay for? This is my first deal and i wanted to ask before i start flipping out. |
Most Popular Reply

Hi lenny
I would contact your attorney immediately. For your next deal, have the seller put money in escrow for any repairs that need to be performed, and have it released when the actual repairs take place. I know that is little comfort now, but may help for your next deal.
I think the only way you may get some help is if it was stated in the contract that this work needed to be performed and it wasn't.
I wish you luck
Gino