<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by CRobin1962:
We live in Ohio and are in the process of purchasing a home (FSBO). During the home inspecption the inspector found that the air conditioning system has leak. My husband brought the inspection paper to the owner and the owner acknowledged that he knew of this when he bought the home. The disclosure that we were given never mentioned this. The owner doesn't want to pay to have it repaired. We are at the point where the VA inspection is to take place. We have given the owner earnest money and our loan has been approved. I feel that the owner wants to back out of the agreement because he knows now after more research into the area that he can get more money for the house. Do we have any recourse in making him fix it???<HR></BLOCKQUOTE>
The Seller has an obligation to repair the AC system and was negligent in not disclosing this material fact. If your loan is a VA loan, tell the inspector or appraiser about the AC problem. The conditions of the VA and any lender require that this type of problem (affecting health and safety) be fixed in order for the loan to be approved. In most cases the VA requires that the Seller make the repairs at the Sellers' expense. The Seller can not use their own failing to disclose and fix the problem once they are made aware of it, as a reason to get out of the contract in order to sell the home at a higher price to someone else. Even on a FSBO transaction, if you are not using a real estate agent to represent you, at least have an attorney review the contract documents and advise you accordingly.
