Quote:
Originally Posted by LIforrelaxin
If the Buyer is starting to do repair work before the deal.... The should have a contract with the current owner, allowing them to do so... and that contract should stipulate that should the Current owner pull out of sales agreement, that they must reimburse the buyer.
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Based on results and a long resident of the Weirs, if the owners had the money for repairs; they would have done so; which is my point. You can't collect from an empty back account..and a long drawn out suit is the only way to rectify.
There is nothing you can do to ensure that the seller won't let you make the repair then turn around and sell it for a higher price to someone else. You don't have any legal rights to the property. Again, you might be able to create a separate contract with the seller, but, if they breach that, again you now have the problem of trying to collect - bottom line, you have no rights to the real estate; the seller needs to get a SHORT TERM loan to do the repairs.
Of course, the pier MIGHT (doubt it) have lowered the price to compensate for repairs. The buyer needs to CYA all the way around.