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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Too skinny to immediately flip. Posted by Ward-CA- on December 07, 2001 at 4:23 PM In Reply to: should I close on the property? posted by lisa on December 07, 2001 at 10:13 AM : I have a property in escrow and my building inspector told me there may be a suspicion of water damage in the master bedroom. I asked the owner to sign off an addendum to escrow- stating she would pay for any water damage found up to 30 days after the close of escrow. She claims there is no water damage. At first, she said no to the addendum, and then yes, and now she is saying no again. : The realtor (for buyer and seller) is trying to strong arm me. He faxed me over a report from a plumber that stated there was no damage. However, I do not know who this plumber is and was not there or asked to be there when he was. : I have stated no signed addendum- no deal. The realtor wants to deal to close. The realtor has offered $1,000.00 in held in escrow in case of water damage and if there isn't water damage $500.00 will still go to me. : I think this deal is starting to have to much hair. The comps are $200,000 on these units and I am buying the unit for 160,000 but it needs $7,000 in work and another $14,000 in closing, opening escrow and realtor fees. : What would you do? Thank you in advance. =?=?=?=?=?=?=?=?=?=?= Lisa, this deal is way too skinny if your interest is to flip it rather than occupy it. My intuition would tell me to pass on this one. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : I have a property in escrow and my building inspector told me there may be a suspicion of water damage in the master bedroom. I asked the owner to sign off an addendum to escrow- stating she would pay for any water damage found up to 30 days after the close of escrow. She claims there is no water damage. At first, she said no to the addendum, and then yes, and now she is saying no again. : : The realtor (for buyer and seller) is trying to strong arm me. He faxed me over a report from a plumber that stated there was no damage. However, I do not know who this plumber is and was not there or asked to be there when he was. : : I have stated no signed addendum- no deal. The realtor wants to deal to close. The realtor has offered $1,000.00 in held in escrow in case of water damage and if there isn't water damage $500.00 will still go to me. : : I think this deal is starting to have to much hair. The comps are $200,000 on these units and I am buying the unit for 160,000 but it needs $7,000 in work and another $14,000 in closing, opening escrow and realtor fees. : : What would you do? Thank you in advance. : =?=?=?=?=?=?=?=?=?=?= : Lisa, this deal is way too skinny if your interest is to flip it rather than occupy it. My intuition would tell me to pass on this one. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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