Friday, October 12, 2007

Update on 4-plex

I sent the agent's assistant an email this morning asking her if she thought the Seller was interested in fixing the repairs I mentioned and/or reducing his list price significantly. She responded by saying:

From what I understand, there is a possibility we can get the repairs done. I have been trying to get a hold of our contractor(who is a certified electrician as well) to get him to look at the property this weekend and give us an estimate. Would it be possible to get a copy of the inspection report when you receive it? I didn't discuss any price reduction with Seller. [The agent] was going to try and call him from the road sometime today.

Now, based on earlier conversations with the agent and the Seller, I was led to believe the Seller had "run out of money" and had no intention of making any more repairs (at least, any that required him to spend money). So, this comes to me as a surprise. What I hate about all of this is that sooner or later I am going to have to fork over a copy of the inspection report to the Seller for his review (per the contract). I paid a decent amount of money for that inspection, and I'd hate to just give it to the Seller for HIS own benefit. IOW, he gets it knowing full well he won't make any more repairs, and uses it for his own benefit.

What I found interesting in the assistant's response is that they are having a contractor go out there to make an estimate on the repair work needed. But how? I never gave the Seller a copy of the report yet. All I did was send the agent a general overview of the major problems. I told my wife that it will be interesting to see what comes out of the contractor's inspection.

What also has me scratching my head is the assistant's claim that she "didn't discuss any price reduction with Seller." Not that the Seller would be interested in dropping the price knowing the place is about ready to fall apart, but still, she couldn't at least mention it to him?

2 comments:

Unknown said...

>I'd hate to just give it to the
>Seller for HIS own benefit
Let it go. Facilitate it if possible. In some ways it harms the seller to have a copy of the report since he may have a duty to disclose known defects to potential buyers.

linda said...

Great investment opportunity in Costa Rica, costa rica condos for sale.
Costa Rica retirement, luxury real estate.
Visit us for more information at www.jaco-bay.com