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Updated over 6 years ago on . Most recent reply
seller dies after I completed +$1k of repairs
Ive been working a deal on a FSBO for months. I was purchasing a house in need of repairs for $10k under appraisal value. Most houses in the area are going for over appraisal. The underwriter requested several costly repairs be done before closing and the seller and I agreed to share the costs of some of the repairs and I would repair the eaves and the water damaged drywall myself. On Sunday I finished my repairs and yesterday had the final inspections. Then yesterday evening my realtor informed me that the seller died and there was no will or trust. I haven't tallied all my expenses but Ive got over $1500 and probably more than 100 hours of labor into this.
I could try to place a lean on the house but Im not sure its worth my time. I want to say I learned something but Im not sure what that lesson is at this time.
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- Real Estate Professional
- West Palm Beach, FL
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Well, the lesson is it’s risky to do work on a house you don’t own yet....but I’ve done it. You probably don’t have mechanics lien rights depending on the exact wording of CA state statutes, here you wouldn’t.
As for going forward, hopefully the heirs will proceed with probate and you can get them to honor your agreement.
BTW, if you don’t screw up once in a while it just means you aren’t doing anything.....carry on.