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9 November 2018 | 38 replies
Kitchen still not free of defects, zero service, zero compensation, just trouble !!!
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24 July 2015 | 2 replies
Beyond title defects (i.e., open permits), there can be other issues that prevent a closing from occurring, such as out-of-possession property lines, seller's non-ownership status, restrictive covenants preventing an intended use or just the efficient use of the property, existing liens against the real estate, current tenant issues with estoppel letters not being forthcoming--and many others.
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17 September 2015 | 9 replies
You also have a duty to disclose known deficiencies of a property to an appraiser as well as to any lender, significant deficiencies can affect the collateral value and any loan decision, omission of facts known can be fraud.In all cases a seller who fails to disclose hidden or latent defects is liable for the value of such defects and is grounds for the termination of any offer or contract to purchase or lease.
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23 March 2023 | 22 replies
Sometimes I wonder why new construction is so riddled with defects.
15 December 2020 | 2 replies
However, how many of them have stopped to questions whether what they are reciting is the correct verbiage or even if it is necessary at all.The difference between the person who wants to tell me why my comps are wrong and the person who wants to point out defects in the property are negligible.
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6 June 2013 | 15 replies
I researched and found out that most homes in the '70s are lead free, anyway, so I might consider it again with testing, but easier to stick with newer properties where you just have to worry about mold, Chinese drywall, and defective pipes.
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6 September 2013 | 38 replies
If, in rare instances, the inspector misses a major defect in the home, their errors and omissions insurance will cover the loss.
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16 November 2012 | 8 replies
No way I'd get into the defects=discounts game, you can't win that one.
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9 May 2015 | 11 replies
As several other people have said, I would first & foremost ensure that you have & maintain your right to walk away given the delays on the seller's end.After that is done, you can say to them that there has been a "materially change" or "DEFECT" that has occurred since you bid on the property for which you would like a "repair credit" at closing of $x.