Backing out of contract

[lanester]

Florida buyer - I signed contract on a house with a stipulation "subject to satisfactory inspection."
The seller stipulated "limit repairs at $500"

I paid an inspector and the inspection shed new light on this house. There were many little things wrong: hole in drywall (12" x 12"), weather stripping, striker plates, 2 sinks not mounted properly, lights not working, one toilet not working, low water pressure in one bathroom, one lateral board on wood siding needed replaced, roof patched improperly, and few other things.

A few things not noted in the report was that the heating and air was 16 yrs old and drainage outside was poor. The house was listed as built in 1994 but was built in 1990. The seller verbally said the roof was 3 months old--why was it patched if so new; and improperly patch, at that?

Based on these findings, I didn't want the house. The repairs needed would have been more than her limit of $500 and I didn't like the age of the A/C nor the red flags on when the house was built and roof patch.

Now she's getting a lawyer and not signing the release from contract form.

Meanwhile, I'm trying to put in a darn good offer on another house but can't until this is cleared up - houses are hard to get here.

Does she have grounds to stand on? Or could there be something else that is locking me in? Can I countersue (of sorts) if she makes me miss this other house? As a first time buyer, this is not a good experience.

[pojo2]

What does your agent say?

Without benefit of seeing your contract we can not say for sure but it sounds like the seller hasn't a leg to stand on IF you can provide proof that the repairs would cost more than the 500 dollars.

You did not know the a/c was that age based on what you did know?

[HomeGuru]

Originally Posted by lanester

Florida buyer - I signed contract on a house with a stipulation "subject to satisfactory inspection."

**A: that clause alone is your out.

**********


The seller stipulated "limit repairs at $500"

I paid an inspector and the inspection shed new light on this house. There were many little things wrong: hole in drywall (12" x 12"), weather stripping, striker plates, 2 sinks not mounted properly, lights not working, one toilet not working, low water pressure in one bathroom, one lateral board on wood siding needed replaced, roof patched improperly, and few other things.

A few things not noted in the report was that the heating and air was 16 yrs old and drainage outside was poor. The house was listed as built in 1994 but was built in 1990. The seller verbally said the roof was 3 months old--why was it patched if so new; and improperly patch, at that?

**A: where is your written seller disclosure statement?
********

Based on these findings, I didn't want the house. The repairs needed would have been more than her limit of $500 and I didn't like the age of the A/C nor the red flags on when the house was built and roof patch.

Now she's getting a lawyer and not signing the release from contract form.

Meanwhile, I'm trying to put in a darn good offer on another house but can't until this is cleared up - houses are hard to get here.

Does she have grounds to stand on? Or could there be something else that is locking me in? Can I countersue (of sorts) if she makes me miss this other house? As a first time buyer, this is not a good experience.

**A: have a meeting with your principal broker and attorney.

[lanester]

Originally Posted by pojo2

What does your agent say?

Without benefit of seeing your contract we can not say for sure but it sounds like the seller hasn't a leg to stand on IF you can provide proof that the repairs would cost more than the 500 dollars.

You did not know the a/c was that age based on what you did know?

Until the inspection, I didn't know the age of the heating and air was that much of a factor. The inspector informed me of the concern of the age and explained why. That's why I hired a professional rather than doing the inspection myself. I thought the home was built in 94 (as listed) and didn't think age would be a factor for any elements of the house. The inspector added 4 years to the house and schooled me on the A/C.