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Updated about 4 years ago,
Pipes don't hold pressure....what's my contingency?
Hiya BP,
Anyone willing to offer some advice? I've been trying to buy my first property and made an offer on a property (I'm dealing directly with a listing agent since it's Fannie Mae). Mine wasn't the highest one and the seller went with another offer. That buyer has since backed out "for personal reasons" and the listing agent offered to submit a revised offer for me.
Here's my issue....
My original offer stated that the utilities would be on and de-winterized prior to the inspection. Now, the revised offer that the listing agent has provided for me to sign has that part replaced with "The condition of the property may not support the connection of utilities and no repairs will be done by Purchase or Seller to make the property available for connection or de-winterization". Aside from it bothering me that there's any change at all except what I myself changed (my offer price), I thought I'd ask him exactly why that was added. The agent said that the water pipes did not hold pressure. I've decided that if I knocked a few thousand off of my offer, I'd be ok with just that though it's a red flag for me. But, I am NOT ok with the possibility of other utilities not being connected and more importantly, included in my inspection. Is it possible to include a contingency phrased in such a way that says I'm ok with the water not being connected but I would like all other utilities on? How can I phrase that as a contingency? Or should it be subject to something else? Sorry if this isn't clear. I am learning, :)
Donna
Anyone willing to offer some advice? I've been trying to buy my first property and made an offer on a property (I'm dealing directly with a listing agent since it's Fannie Mae). Mine wasn't the highest one and the seller went with another offer. That buyer has since backed out "for personal reasons" and the listing agent offered to submit a revised offer for me.
Here's my issue....
My original offer stated that the utilities would be on and de-winterized prior to the inspection. Now, the revised offer that the listing agent has provided for me to sign has that part replaced with "The condition of the property may not support the connection of utilities and no repairs will be done by Purchase or Seller to make the property available for connection or de-winterization". Aside from it bothering me that there's any change at all except what I myself changed (my offer price), I thought I'd ask him exactly why that was added. The agent said that the water pipes did not hold pressure. I've decided that if I knocked a few thousand off of my offer, I'd be ok with just that though it's a red flag for me. But, I am NOT ok with the possibility of other utilities not being connected and more importantly, included in my inspection. Is it possible to include a contingency phrased in such a way that says I'm ok with the water not being connected but I would like all other utilities on? How can I phrase that as a contingency? Or should it be subject to something else? Sorry if this isn't clear. I am learning, :)
Donna