Real estate problem ...

• Belly35

  

  Daughter buying a foreclosure house. Offer made and offer excepted.
  During the process of getting property inspection require by the bank the front door lock box was broken into and the house copper pipes and furnace was ripped out of the home. At the time break in the listing real estate and the bank where still responsible for the security of the property.
  My daughter has been told via the bank and listing real estate that they are not responsible for the damage and that my daughter can still purchase the house but as it is now, not as the time of the signing of and agreed to contracts condition of the house.
  
  This damage is not the buyer responsibility to repair this is the realtor and bank problem to repair?
  
  lawyer have at it".......
• dlazz

  Belly35;1608032 wrote: This damage is not the buyer responsibility to repair this is the realtor and bank problem to repair?

  You answered your own "question" earlier in the post.
  

  Belly35;1608032 wrote: At the time break in the listing real estate and the bank where still responsible for the security of the property.

  I say "question" because it's not coherent, but it does end with a question mark.
  
  Hope this helps.
• thavoice

  She should just become part of sleeper's harem and he can take care of it.
• Sonofanump

  I don't see how she can be held to the contract since the condition changed. She should be able to back out of it, unless the deal is too good to pass up. This should fall under the bank's insurance policy.
• Pick6

  

  sounds like she was planning to move into a lovely neighborhood!
• wildcats20

  

  Call an attorney, not the OC.
• justincredible

  

  Something, something, porch furniture.
  
  But yeah, I'd contact a lawyer.
• gut

  Yeah, sounds like you need a lawyer. If you didn't write the purchase agreement, you might be screwed....but normal purchase contracts are contingent on inspection and appraisal, and they'd normally have to return any deposit/down payment for a material matter such as this.
  
  Even if they offered to reimburse you, you could still walk away. But they are also under no obligation to repair or reimburse you (and you would want a check for a fair value estimate of repairs, so you can make sure it's fixed correctly).
• Fly4Fun

  

  Call a lawyer.
• Devils Advocate

  

  I think you should walk your spigot first. Then work it up to a jog before you attempt to run it.
  
  
  Safety first!
• vdubb96

  

  Belly don't know if anyone has mentioned this but a good course of action may be to contact your lawyer.
• Belly35

  

  First lets me explain something ... This is my daughter not me.
  
  What she does is her responsibility I can give advice but if she wishes not to take it that her burden.
  
  I have bought and contracted four homes in my life time… buying a home can be a rewarding and easy experience or it can be a nightmare.
  In the beginning I suggested that she handle some issue different with the listing agent… I also suggested that her agent firm lawyer get involved at the first sign of a problem….
  When the front door and lock box was taken I suggested she get her agent, police and foreclosure bank agent involved that day…. instead the listing agent said that they would handle this situation …waited 6 days to file a report, contact the bank and replace the door lock and new lock box
• SnotBubbles

  

  I think I'd call a lawyer.
• ernest_t_bass

  

  Have you called a lawyer yet?
• sleeper

  

  I'd contact an attorney ASAP. Why are you waiting? ASAP means now.
• gut

  anti-establishment types like Belly don't need no lawyer!
• thavoice

  NOt sure if anyone mentioned it, but call a lawyer.
• Sonofanump

  Send her a link to this thread.
• dlazz

  Belly35;1608248 wrote: What she does is her responsibility

  Then why did you make a thread? Have her make one
• vdubb96

  

  Sonofanump;1608281 wrote:Send her a link to this thread.

  HAAHAHA REPS!
• Belly35

  

  dlazz;1608293 wrote:Then why did you make a thread? Have her make one

  Hoping for reps.... mofo
• Heretic

  

  gut;1608254 wrote:anti-establishment types like Belly don't need no lawyer!

  Obama would have called a lawyer, so Belly's just getting his guns cleaned out for a little trip to Chicago!
• Pick6

  

  Lawyers are for people who can't get shit taken care of themselves.
  
  
  hope this helps.
• ohiobucks1

  

  I know it's been said but call a a lawyer who deals with property rights.
  
  
  It sounds like she might have a breach of contract claim. If the papers were signed by both parties then there will likely be a provision that mentions what happens between the time bargained and the move in. However, like everyone has said, I'd have a lawyer look over the contract and advise what to do.
• gut

  ohiobucks1;1608411 wrote: It sounds like she might have a breach of contract claim.

  The listing agent won't do squat, and probably isn't liable. Banks are reluctant to take a bath moving a foreclosure in the first place, so they will probaby offer little (if any) remedy. The bank will play hardball, betting (probably correctly, usually) that the deal is still good enough for the buyer to absorb some, if not most, of the repairs.
  
  This supposedly happened around inspection time (before closing), so this sort of defect would usually FAIL the inspection and you could walk away getting your full deposit back (not sure how foreclosures work, though). At that point, I'd have an attorney submit an amended offer taking into account cost of repairs. Be prepared to lose the deal.
  
  I assume Belly knows you can't sit around twiddling your thumbs debating what to do and whether to hire a lawyer.
  
  note: if you make a counter offer and are prepared to walk away, you might also "encourage" the listing agent to cut their commission and you can recover some of the cost that way. See how much the bank moves first, then squeeze the agent to close the deal (and just to be an ass, "hint" about the fact the commission would be split if you have a buyer agent)