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Repairs

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by

Diane Schneider

on 21 June 2016

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Transcript of Repairs

Repairs

How do you properly ask for Repairs?
Responding to
a Request for Repairs
Understand that the seller is not obligated to do repairs, but it may be in their best interest.
Repairs can be agreed upon in multiple ways.... ie, repair agreed to in part or in full, seller may agree to a fixed amount, etc
Use the proper form to respond, Seller Response and Buyer Reply to Request for Repair.
What does the contract say?
CONDITION OF PROPERTY:
Unless otherwise agreed in writing: (i) the Property is sold (a) “AS-IS” in its PRESENT
physical condition as of the date of Acceptance and (b) subject to Buyer's Investigation rights; (ii) the Property, including pool, spa,
landscaping and grounds, is to be maintained in substantially the same condition as on the date of Acceptance; and (iii) all debris
and personal property not included in the sale shall be removed by Close Of Escrow.

How do Repairs affect the COE?
Delays, delays and more delays!!!

Prioritize COE, Repair cost, time needed for repairs
Understand how repairs affect the loan process
Communication in key!!
Repairs are agreed upon....
now what?
Get your inspections and bids done in a timely manner.
Discuss with your Realtor what areas concern you or are most important.
Put together a reasonable request in writing on the appropriate form, Request for Repairs.
Submit all reports and bids with your request.
Repairs need to be done by the Verification of Property Condition (final walk through) unless agreed upon in writing.
Need to be done to permit, inspection and approval requirements in a skillful manner with quality materials.
Seller will provide invoices and paid receipts for work done by others to buyer as well as a written statement as to the work they did themselves.
Hire a Realtor that understands the contract and can advocate for you as a buyer or a seller.....Hire Me!
Full transcript