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Updated over 5 years ago on . Most recent reply

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58
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Vibhu Arya
  • Mesa, AZ
4
Votes |
58
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Pls Advise - Closing 1st 4PLEX & walkthrough has repairs pending

Vibhu Arya
  • Mesa, AZ
Posted

The walkthrough shows that one of the identified HVAC repair is pending with the seller's warranty company. Seller is saying that he will give in writing that either the warranty company will fix /replace it or he will from his own pocket in 2 weeks time. BUT let us close as planned tomorrow.

How should I go about it? Will his written statement given during the close hold water later - in case he doesn't do it in 2 weeks?

I'm okay to close - but want to make sure I'm covered. Please advise how can I do that?

Thank you

Most Popular Reply

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3,959
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Greg Scott
  • Rental Property Investor
  • SE Michigan
5,667
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3,959
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Greg Scott
  • Rental Property Investor
  • SE Michigan
Replied

Have him put cash in escrow with the title company, payable once the repairs are complete.  Possession is 9/10ths.  You do not want to have to fight to get the cash later. 

  • Greg Scott
  • Loading replies...