vandalized property
hi all we are in contract to buy a renovated property. over past few months the property has been broken in again and again and we now got an estimate for over 60,000$ worth work to bring it back. we are going to meet with seller-owner to renagotiate…they are not interested in doing the work…
hi all
we are in contract to buy a renovated property.
over past few months the property has been broken in again and again and we now got an estimate for over 60,000$ worth work to bring it back.
we are going to meet with seller-owner to renagotiate…they are not interested in doing the work but rather reduce the price and pay us some money from insurance for the repair..
any idea as to what will be the key points if we go that route?similar experience?
Thanks
it sounds like a really bad idea to buy a buiding in a neighborhood like this
This sounds like an unoccupied home? Re; above, yes, protect your interest(s) and get several estimates.
Also, protect yourselves. Consider installing home security system(s) —
Some quick thoughts (very incomplete): Obviously, get everything in writing. Reduce price and/or consider requiring a separate escrow account to cover repairs (not dependent on insurance payment, and with thought to covering your own expenses and loss of use while repairs are being made). Make the repairs yourself, so you’re satisfied with the quality/legality. Give careful consideration to what it means to purchase a property that has been targeted for this kind of vandalism.