First Timers

[weena]

What is the name of your state? New York My husband & I are in the process of purchasing a 2 family home with his sister & her family, this is our first purchase, any way we have already made an offer & it was accepted, but the seller has a tenant who is occupying the back half of the home, we need the home to be delivered vacant at closing, the seller gave her a verbal notice 2 weeks ago, at first he would not agree to delivering the home vacant, but has since changed his mind, & agreed to giving her a 30 day notice, so she has to be out by 2/1/06, & he has agreed to giving her money to assist her in moving to a new apartment, & she does not have a lease. Our attorney does not want us to sign the purchase contract, until he notifies his attorney to reword it saying that the home will be delivered vacant by closing, now should we just have a meeting with the seller & tell him that since you are helping the tenant move out why not include in the contract that she will be out by closing, so that we can get this moving along, for we need to be out by February ourselves or suffer a huge rent increase that we would rather use for a mortgage any how. Do we need to disclose to the seller what was found in the inspection report, he needs to make some minor repairs to the home, so how do we get him to do this before closing?

[Ladynred]

If you don't TELL him, how is he going to know ??

Send him a copy of the inspection report with the needed repairs delineated and make sure he gets them done by closing. This is very common, so you're not stepping on any toes.

[Chien]

Of course LNR is correct. And, if you don't raise the "minor problem", when it's disclosed in the inspection report, do you understand the implications, if it turns out to be a "major problem" that you knew about at time of purchase?

I'm not a big fan of the Socratic Method, when you come here asking for free legal advice, and I apologize if this seems like a rant (because I guess it is), but you have an attorney and, presumably, a real estate agent/broker walking you through this. What are you going to do if some gadfly here gives you a contrary opinion?

And last AND least, why is this on the debt collection forum to begin with? Ok, it is a rant, and you don't have to respond to any of my questions, but at least think about them.

[debtcollector`]

Originally Posted by weena

What is the name of your state? New York My husband & I are in the process of purchasing a 2 family home with his sister & her family,
First mistake -- these things never go well.

this is our first purchase, any way we have already made an offer & it was accepted, but the seller has a tenant who is occupying the back half of the home, we need the home to be delivered vacant at closing, the seller gave her a verbal notice 2 weeks ago, at first he would not agree to delivering the home vacant, but has since changed his mind, & agreed to giving her a 30 day notice, so she has to be out by 2/1/06, & he has agreed to giving her money to assist her in moving to a new apartment, & she does not have a lease.
And that is the seller's problem not yours. Don't worry about it.

Our attorney does not want us to sign the purchase contract, until he notifies his attorney to reword it saying that the home will be delivered vacant by closing, now should we just have a meeting with the seller & tell him that since you are helping the tenant move out why not include in the contract that she will be out by closing, so that we can get this moving along, for we need to be out by February ourselves or suffer a huge rent increase that we would rather use for a mortgage any how.
You are paying your attorney for advice. Follow it.

Do we need to disclose to the seller what was found in the inspection report, he needs to make some minor repairs to the home, so how do we get him to do this before closing?

I say put everything into the purchase contract. That's what you hired an attorney for. Like LNR said what you bring up is common, don't sweat it. That said if it isn't in the contract it never happened.

On a personal note -- if there is anyway you can still get out of the deal do it. It is hard enough to be responsible for one family these days -- trying to be responsible for two is dangerous, stupid and silly. What happens if your husband's sister gets a divorce or if her family gets sued? What happens if they default on their part of the mortgage and you can't carry the whole thing? What happens if you cover for them and they simply stop paying? You are exposing yourself to incredible risks for the opportunity of owning half-a-house.

DC