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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: should I close on the property? Posted by Ron M on December 07, 2001 at 4:48 PM In Reply to: should I close on the property? posted by lisa on December 07, 2001 at 10:13 AM Lisa, If you are still considering the purchase of this property, I'd reserve more than one thousand dollars for the water damage restoration. Water damage restoration often runs into many thousands of dollars, sometimes even on small, seemingly innocent looking floods. My firm does a lot of this type of work and it often isn't cheap. If the carpet has been wet for many days and it wasn't cared for properly, you can have a serious mold problem on your hand. (which incidentally, is extremely costly to fully remove and cure.) At the very least call your local Servpro or Servicemaster flood restoration company and ask them for a free quote. Good luck. : 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. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : Lisa, : If you are still considering the purchase of this property, I'd reserve more than one thousand dollars for the water damage restoration. Water damage restoration often runs into many thousands of dollars, sometimes even on small, seemingly innocent looking floods. My firm does a lot of this type of work and it often isn't cheap. If the carpet has been wet for many days and it wasn't cared for properly, you can have a serious mold problem on your hand. (which incidentally, is extremely costly to fully remove and cure.) At the very least call your local Servpro or Servicemaster flood restoration company and ask them for a free quote. Good luck. : : : 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. 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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