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Updated over 7 years ago on . Most recent reply

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52
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9
Votes
Linda M.
  • Real Estate Investor
  • Chicago, IL
9
Votes |
52
Posts

non disclosure of code violations

Linda M.
  • Real Estate Investor
  • Chicago, IL
Posted

The last time I posted it was about the loan agent , this time it is concerning the attorney and the fact that there was found to be some code violations.To make a long story short, a couple of days after the contract was signed I go to the city of Chicago web sight and enter the address of the property and it comes up with a few things dating back to 2011 and 2012 ,I contact the "my" attorney and let him know that those things were not disclosed.After some time the seller make a change of attorney and the new attorney offers some credit towards repairs and that was fine with me. A few days later the seller goes back to the original attorney and say there will be no credit towards the repairs because it is an as-is contract , but on the contract the seller checks off they have no knowledge of any city or Government violations, and "MY" attorney seems to be just fine with not providing a credit, the "MY" R.E estate also say this is an as-is sale with a rehab loan .So what am I suppose to do when everybody sides with the seller. Is the Residential Real property Disclosure Act 765ilcs77 a helpful tool, I had to get an extension for this contract because of all the back and forth but should I also be looking at another attorney,oh and the r.e agent tells me that the seller needs to get a certain amount from this sale and does not have any money to give so is that a good reason to not ask for a credit? ...The attorney was a referral from real estate agent,I need ADVICE on how to proceed..

Most Popular Reply

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23,418
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13,508
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
13,508
Votes |
23,418
Posts
Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

You negotiating a credit, and the fact there were code violations.....have nothing to do with each other.  Any no core te code violation should have been obvious to you.  Take the deal as is, or walk way if you're still within your inspection period.  Attorneys and agents don't decide if there are seller repair credits.....only the seller does.  And,money You decide to proceed without them, so in other words....this is your decision, we can't help you.

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