Buyer Paying for Repairs Addendum Language

[Nicole Gardner]

Hello,

I'm currently buying an investment property.  I can't close on the property until some very minor repairs are done and the seller is refusing to make these repairs.  I am willing to make these repairs myself before closing (partly because I was planning on making them anyways) but I want to have contract language that protects me if I'm still not able to close on the house for any reason.  Namely, I want it stated that I am making and paying for the repairs in anticipation of getting loan approval and the title transferring to my name.  If I don't get the house I would like the contract to say that I will be reimbursed for the materials. My thinking is that this will allow me to place a lien on the property in case the seller uses my labor, materials, and money to improve his house before placing it back on the market for the next buyer.  How do I go about doing this? My reality agency say they can not provide this language for me.

Thank you.

[Glenna Wood]

Be very careful as this can be a slippery slope. You say you "can't close until very minor repairs are done". Who exactly is holding up closing? If it's the lender based on an appraisal, are these "minor"? If the seller us refusing to pay pre closing, they aren't going to to be any more likely to pay after closing. From your view, you think you are improving the seller's property. The seller may think you damaged it or did a shoddy job. I would not put $$ into property I don't own. If you can't get financing without the repairs, find another property.