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Updated over 6 years ago on . Most recent reply

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Deirdre Callan
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Buyer has done a lot of unauthorized work before closing.

Deirdre Callan
Posted

The buyer if my duplex had asked torepair the overhang on the roof, and fix the outside staircase so the bank would approve his loan.  I went to the property yesterday, and no less than 10 men were working on the inside and outside of the house.  They repainted my entire house!!  They also put in new flooring!!  I have been at risk of someone injuring themselves and suing.  I am thinking about canceling the contract.  Can I do that?

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Alex Deacon
  • Investor
  • Pittsburgh, PA
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Alex Deacon
  • Investor
  • Pittsburgh, PA
Replied

@Deirdre Callan although I cant condone what the buyer did I dont think you should cancel the contract. I would let them know they need to stop asap and just get the work done thats needed for the loan. I would do a complete inspection and make sure they didnt do any damage there and have them sign a waiver of liability since they are working there. If the deal falls through and IF they did nice work on the property then they have increased the value of the investment for you. Chances are that if they are going through all the trouble of investing time and money into the property that the loan is going to get approved and you will close. Your concerns are valid and they should stop what they are doing and close on the property first. 

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