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Real estate help? The home owner is less than forthcoming....

A few months ago my husband and I went to an open house. We were interested enough to think about taking a second look with our dads (both contractors who could give us plenty of info on what needed to be done to the house). When we called the real estate agent, we were informed that an offer had been made and accepted on the house. We were disappointed, but kept the MLS listing in our saved file anyway just in case. A month or so ago, it was re-listed with a 20,000 price drop. We wondered if the people who had made the offer had had a home inspection done and found that a lot more needed to be done than they had thought when they made their offer so they had withdrawn. That scared us, so we backed away too. This week, the house dropped to 125,000, when it had originally been at 185,000. Now that it is such a great price, I think it is worth taking a look at again, but my husband is still scared of it.

First, is there a way we can find out what was in the inspection report?
Second, if we have to talk to the owner's real estate agent, what is the best language to use? Just to give a little more info, the property is listed as ready to occupy, but when we went to the open house the agent told us it would need a rehab loan. There were several other inconsistencies in the ad for the home as well, making it sound much better than it is. It is actually in pretty rough shape, but the land is so beautiful it drew us in. We are afraid the owner/real estate agent employed by the owner won't be truthful if we ask them, since they weren't truthful in the ad.

Thank you for any help!!

 
alphamom26

Asked by alphamom26 at 11:48 AM on Jun. 30, 2011 in Just for Fun

Level 17 (3,274 Credits)
This question is closed.
Answers (6)
  • U need to hire your owner home inspector. People can be bought. I would not trust their inspection report. Take it from there.
    dancer

    Answer by dancer at 11:55 AM on Jun. 30, 2011

  • You will need your own inspector and depending on privacy laws/rules you might not ever know why the past sell didn't go through.
    The buyers might not have backed out, financing could have fallen through which was my first thought. If the house did need work they could have been approved for a certain loan that didn't cover the house, like FHA. They might not have been pre-approved and it just didn't work out.

    Have your father, fil and hire an inspector to go through the house.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 12:17 PM on Jun. 30, 2011

  • I agree with Gnomeofmyheart. DH & I have looked at many houses and come across homes that the buyer was unable to close on. Some needed serious work. Most of the time, the finance company refused to finance the sale of that home for some reason. Check out the house with YOUR home inspector. All homes have some minor repairs that need to be done before closing on the house. If there is work that needs to be done and is going to cost you a chunk of change to replace, you can either ask the owner to get it fixed or ask the owner to take the price of the repairs off of the price of the house.
    dustbunny

    Answer by dustbunny at 12:28 PM on Jun. 30, 2011

  • i would get ur own inspector and havea look at it!
    Caroline2010

    Answer by Caroline2010 at 12:24 PM on Jun. 30, 2011

  • Hire your own inspector and if your dads can still take a look, I'd do that too. We went into buying our home educated or so we thought. Long story short, the inspector "missed" a lot and we feel misrepresented other things. We have dumped thousands into this place to bring it up to where it should be.
    wildflowers25

    Answer by wildflowers25 at 12:53 PM on Jun. 30, 2011

  • Thanks for your answers ladies! I hadn't thought about the loan not going through for the other people interested. Something to think about....Maybe I will try to talk to my husband about it again. Thanks again!!
    alphamom26

    Comment by alphamom26 (original poster) at 1:19 PM on Jun. 30, 2011

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