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re: Closing on a house question
Posted on 2/26/14 at 1:58 pm to LordSnow
Posted on 2/26/14 at 1:58 pm to LordSnow
quote:
What would make you say "nope. It's not done".
Let me ask you something... what if you close on Friday, and the contractor then decides to absolutely do nothing else on the house. You call them, leave voice mails, and they either say "yeah, we'll get there next week" and never show up, or ignore your calls? Then what?
I don't trust hardly anyone, especially if it's in their interest to make money on screwing someone over.
1
Posted on 2/26/14 at 2:03 pm to LordSnow
Sounds like a whole lot of half-assin' is gonna happen inside your crib between now and Friday.
Posted on 2/26/14 at 2:03 pm to cyogi
quote:
Let me ask you something... what if you close on Friday, and the contractor then decides to absolutely do nothing else on the house. You call them, leave voice mails, and they either say "yeah, we'll get there next week" and never show up, or ignore your calls? Then what?
I don't trust hardly anyone, especially if it's in their interest to make money on screwing someone over.
You have money put into escrow at closing that is enough to cover completion. They have a fixed period of time to complete the work and collect the money. If they do not you get the money and you hire people to finish the work.
Posted on 2/26/14 at 2:06 pm to VABuckeye
you know the deadline going that route will be much further out than just making them finish before you close. I would tell them I will close if you put x% in escrow and pay my rent so I don't have to move until you have completed everything. x% would be enough to make them feel like it was in their interest to finish up asap.
Posted on 2/26/14 at 3:40 pm to bobaftt1212
Would you rather they rush the work to get it done by Friday or give them a couple of weeks with the money escrowed to get the job completed correctly?
Also, does the state in question require a RUP (Residential Use Permit) prior to closing? If so, the house may be in a state that the RUP won't be issued.
Also, does the state in question require a RUP (Residential Use Permit) prior to closing? If so, the house may be in a state that the RUP won't be issued.
Posted on 2/26/14 at 3:59 pm to VABuckeye
quote:
Residential Use Permit
Wonder if this is the same as CoO, (certificate of Occupancy) here in TN. Asked earlier about this but got no response.
Posted on 2/26/14 at 4:51 pm to ItNeverRains
quote:
Wonder if this is the same as CoO, (certificate of Occupancy) here in TN. Asked earlier about this but got no response.
I know Huntsville Utilities won't transfer electricity to a new owner's name until the CoO has been issued here in N. Alabama.
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