Repair Addendum and Seller Fixing what you Requested
You are now out of Due Diligence, which means you are one step closer to buying this home. You are planning on Rehabbing this home a bit (kitchen and misc. other updates), so the repairs you requested were minor. You and the Seller both have signed off on the Repair Addendum and you have requested All Repairs be done at least 5 Days before closing, so you can have things re-inspected and countered if repairs are not done or not done properly.
Now the waiting game, as you will wait on the Listing Agent to let you know when the Repairs are done. Some agents simply tell you the repairs will be done “5 Days Before Closing” as stated in the contract. Others will let you know as soon as things get done (maybe 7 days before closing, thus helping the whole deal out). So, sit back and be patient. You should make sure your Inspector and/or contractor are on board with the Scheduling of a Re-Inspection though.
Note also, that some repairs may require an inspection from a structural engineer. For example, if you have ANY structural repairs going on (floor joists, roof framing, etc.), you should consider getting a 3rd Opinion (1. Home inspector, 2. Contractor, 3. Structural Engineer). Yes, this will cost you more, but in the long run it will Save You much more. Be aware also, that there are many different Opinions on what a proper Fix is. One Engineer may have an Opinion of replacing the Whole Board, but another may simply state that adding a daughter board will suffice. Be prepared to review the outcome of a fix and counter if you Really Think it is necessary. Your Repair Addendum stated that the Seller Must Use a South Carolina Licensed Contractor to do the repairs, so do some homework on Who is actually doing the repairs and ask about warranty fixes if needed down the road.
Again, in this particular case the repairs were minor, but you still have to walk through the steps of re-inspection and moving forward to the Closing Table.
Next week I will go over the Repairs done and Re-Inspection Findings.
Gary Buchanan/Realtor® w/AgentOwned Realty - firstname.lastname@example.org 843-647-7743