Real estate problem. BIG ONE!

[IHateMyJob2004]

Originally posted by: Yax
Okay, guy buys my house at way below market value. I even gave him about $10K at closing and agreed to give him an extra $500 for minor repair costs.

Now he claims he can't move in because there were some bugs in the place, namely roaches and ants. He said since he couldn't move in at end of closing, that he's going to sue me for:
1. first month of interest on his loan.
2. costs to advertise his first home for rental.
3. $1650 a month on his first home till its rented. then any difference if it rents for less.
(Around the area, his home would probably rent for no more than $1300/month, and its a huge home too so probably no demand for it).

I'm like WTF! What's he thinking? Darnn, some of these aholes are so lawsuit happy. GEEZ!

Tell him to sue. Don't even get a lawyer. Talk about a BS claim. Tell him if he doesn't want the home, he doesn't need to buy it. All contingencies passed and he will have to surrendur his deposit (20%?) if he backs out.

Now that he's playing hardball, no chance in hell that you give him the deposit back. He probably wants to back out and try to make it look like it's your fault. F HIM!

 

[IHateMyJob2004]

Originally posted by: Rastus
If he has signed a contract, he will either fulfill his part of it or you will sue him. He has no standing.

Not exactly. No sueing invlolved. If he doesn't ful-fill his part, he looses his deposit, per the contractual agrement.

 

[IHateMyJob2004]

Originally posted by: Rudee
If the buyer is so concerned with insects he should of included that in his purchase contract, where the buyer specifies the terms and conditions. If he didn't and he sees roaches, too bad.

This is 100% true.

PS: might want to add to your topic (lawyers please jump in)

 

[RKS]

Originally posted by: IHateMyJob2004

Originally posted by: Rudee
If the buyer is so concerned with insects he should of included that in his purchase contract, where the buyer specifies the terms and conditions. If he didn't and he sees roaches, too bad.

This is 100% true.

PS: might want to add to your topic (lawyers please jump in)

I don't think the specific items that purchase contracts usually concern themselves with are minor issues. They usually point out material defects that need to addressed. I guess you could argue if the roaches were that bad:
1. the home inspector would have noted it (unless they don't look for bugs, just structural, mechanical, HVAC, etc issues)
2. the buyer would have noticed and would have put it in the contract.

The seller is responsible for informing any buyer of problems that the owners knows about but the seller will also be held resonsible for problems that they SHOULD have know about as well.

btw sorry KENAZO

 

[JackBurton]

Originally posted by: HombrePequeno
Stab him.

LOL! :thumbsup:

 

[waggy]

Originally posted by: RKS

Originally posted by: IHateMyJob2004

Originally posted by: Rudee
If the buyer is so concerned with insects he should of included that in his purchase contract, where the buyer specifies the terms and conditions. If he didn't and he sees roaches, too bad.

This is 100% true.

PS: might want to add to your topic (lawyers please jump in)

I don't think the specific items that purchase contracts usually concern themselves with are minor issues. They usually point out material defects that need to addressed. I guess you could argue if the roaches were that bad:
1. the home inspector would have noted it (unless they don't look for bugs, just structural, mechanical, HVAC, etc issues)
2. the buyer would have noticed and would have put it in the contract.

The seller is responsible for informing any buyer of problems that the owners knows about but the seller will also be held resonsible for problems that they SHOULD have know about as well.

btw sorry KENAZO

When i baught the last home the Home isnpector did not look for bugs. We had to hire a diffrent person just for that.

 

[IHateMyJob2004]

Originally posted by: waggy

Originally posted by: RKS

Originally posted by: IHateMyJob2004

Originally posted by: Rudee
If the buyer is so concerned with insects he should of included that in his purchase contract, where the buyer specifies the terms and conditions. If he didn't and he sees roaches, too bad.

This is 100% true.

PS: might want to add to your topic (lawyers please jump in)

I don't think the specific items that purchase contracts usually concern themselves with are minor issues. They usually point out material defects that need to addressed. I guess you could argue if the roaches were that bad:
1. the home inspector would have noted it (unless they don't look for bugs, just structural, mechanical, HVAC, etc issues)
2. the buyer would have noticed and would have put it in the contract.

The seller is responsible for informing any buyer of problems that the owners knows about but the seller will also be held resonsible for problems that they SHOULD have know about as well.

btw sorry KENAZO

When i baught the last home the Home isnpector did not look for bugs. We had to hire a diffrent person just for that.

Home inspection and contingencies usually involve strucural/mechanical issues only.

 

[Yax]

Thanx for all your inputs. The guy's just trying to get as much as he can out of me. Its okay, because he's making unreasonable demands.

 

[HomeBrewerDude]

Originally posted by: Yax
Thanx for all your inputs. The guy's just trying to get as much as he can out of me. Its okay, because he's making unreasonable demands.

its not okay. tell the guy to kiss your ass.

 

[imported_yetti]

kick his ass, seabass

 

[rahvin]

Just ignore him. His claims have no merit, to actually win a claim against you he would have to prove you deliberately lied, and that's not an easy thing to do. The thing with real estate is that all sales are final, if you dont' find the problems before you close the deal then it's your problem. I missed some out of code electrical on my house and I'm going to foot the bill to fix it because of my mistake. I would love to go back to the previous owner but that's not the way the law works.

 

[Yax]

Originally posted by: rahvin
Just ignore him. His claims have no merit, to actually win a claim against you he would have to prove you deliberately lied, and that's not an easy thing to do. The thing with real estate is that all sales are final, if you dont' find the problems before you close the deal then it's your problem. I missed some out of code electrical on my house and I'm going to foot the bill to fix it because of my mistake. I would love to go back to the previous owner but that's not the way the law works.

Thanks for the reassurance. I've bought another property too and I've had to fix anything I didn't look for during the purchase too. The guy's being an ahole. I contacted my listing agent and asked her to stop any communications with him. I'm not going to respond to anymore of his demands either. If he's really stupid enough to pursue it, he'll lose. Just sucks to have to waste my time with him that's all. But he's money hungry so I think he'll probably file.

 

[OffTopic1]

Originally posted by: rahvin
Just ignore him. His claims have no merit, to actually win a claim against you he would have to prove you deliberately lied, and that's not an easy thing to do. The thing with real estate is that all sales are final, if you dont' find the problems before you close the deal then it's your problem. I missed some out of code electrical on my house and I'm going to foot the bill to fix it because of my mistake. I would love to go back to the previous owner but that's not the way the law works.

Exactly what he said.

 

[pmoa]

dont worry about it....he signed the contract and it's his... you have no obligation except to move out and say good bye

 

[rahvin]

Originally posted by: Yax
Thanks for the reassurance. I've bought another property too and I've had to fix anything I didn't look for during the purchase too. The guy's being an ahole. I contacted my listing agent and asked her to stop any communications with him. I'm not going to respond to anymore of his demands either. If he's really stupid enough to pursue it, he'll lose. Just sucks to have to waste my time with him that's all. But he's money hungry so I think he'll probably file.

If you are confident that he will file you should probably find an attorney you like and trust to make the case go away when he does bring it.

 

[Kelemvor]

Did you both use lawyers or Realtors? If so, let them worry about it. If you didn't use a lawyer or a Realtor.. then you are dumb and deserve whatever you get. But it sure sounds like he's an ass so I hope you win everything.

 

[notfred]

Where do you live that $1300/month rents a "huge home"?

 

[Yax]

Originally posted by: notfred
Where do you live that $1300/month rents a "huge home"?

Stockton, CA area.