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Updated over 3 years ago,
Buyer Paying for Repairs Addendum Language
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.