Issues with a Closing

[Eddie Vang]

Hi BP, I need some advice on what steps to take. I feel like I am getting screw here. The story goes, I made an offer on a Foreclosure property and the week before closing (Oct. 31) I asked my agent (Monday, Oct 24) to get permission for a final walk through (Today, Oct 27) before I wire the rest of the funds. When we got the reply back from the selling agent (Tuesday, Oct 25), she mention that the house was broken into and the copper piping were stolen. Now my agent and I are wondering why did they wait till the last week to notify us of the damages and would they have even told us if we did not ask for a final walk through. The selling agent also, told us, if we would have got a repair estimate in before the HUD was process (Wednesday, Oct 26) we could have got a credit for the necessary repair work. Since we pass that period (WOW... a day notice) the seller will not credit me anymore and that the damage was minimal (ALL the water pipes and ground wire from the water main to all faucet were taken, plus broken A/C pipes and sewer pipes). My questions are; can I still get the seller to fix or credit for the repair even though the property is a foreclosure and sold a-is? Can we ask for a extension without being penalize since I was not given proper notification about the damage and to get a estimate. And worst case scenario, if I back out, can I get my deposit back since the property is not in the same condition when I first made the offer. Any advice/suggestion is appreciated. The sooner, the better since i need to send the funds by tomorrow, if I decide to buy it.

Thanks BP.