- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Coaching Changes
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Damaged House Purchase
Posted on 9/21/20 at 7:16 pm
Posted on 9/21/20 at 7:16 pm
I had signed a contract to purchase a house (was a spec w/some custom finishes) in Lake Charles, closing was scheduled for Oct 13th. The house was damaged (shingles off, both front doors blown open, wind driven rain in entries, water damage in garage, roof vents blown off). I really don't want to purchase a house that I've never spent a night in, before it had to be repaired. What are my chances that the contractor will either, let me out of the contract and get my deposit back (and eating the overages on the custom items) or them just building the same house on a new lot in the same subdivision?
9
Posted on 9/21/20 at 7:21 pm to ktfsh71
Was this a house being built?
This post was edited on 9/21/20 at 7:23 pm
Posted on 9/21/20 at 7:21 pm to ktfsh71
Read the contract.
Posted on 9/21/20 at 7:37 pm to ktfsh71
In the contract, is the deposit referred to as "Earnest Money"? If it is then it is unlikely that you get the money back.
Posted on 9/21/20 at 7:38 pm to cajunandy
quote:
In the contract, is the deposit referred to as "Earnest Money"? If it is then it is unlikely that you get the money back.
What if OP's name is "Earnest"?
Posted on 9/21/20 at 7:45 pm to dbeck
quote:
What if OP's name is "Earnest"?
you think he is a deposit? what did he deposit?
Posted on 9/21/20 at 7:53 pm to ktfsh71
You need to speak to an attorney. I wouldn’t be so worried about some wind damage that, presumably, will be repaired on the contractor’s nickel. But water damage is another thing entirely. I would also suggest you have this conversation quickly while you can still document the damage if you need to.
Posted on 9/21/20 at 8:09 pm to ktfsh71
quote:I understand your thinking, but EVERY house needs repairs. My ex and I built a brand new house and after closing they had to repair the HVAC and the washer/dryer. If you had watched them build your house start to finish there's a strong chance they had plenty of rework here and there. I understand your thought process, but a home with repairs is not like a wrecked car with body work. Just something to think about.
I really don't want to purchase a house that I've never spent a night in, before it had to be repaire
Posted on 9/21/20 at 8:13 pm to ktfsh71
Shouldn't contractor have insurance???
You don't own the house yet and you can put all that damage on punch list.
You don't own the house yet and you can put all that damage on punch list.
Posted on 9/21/20 at 8:16 pm to ktfsh71
Just make a punch list so long, he will let you out
Posted on 9/21/20 at 8:22 pm to Lou
quote:
I understand your thinking, but EVERY house needs repairs. My ex and I built a brand new house and after closing they had to repair the HVAC and the washer/dryer. If you had watched them build your house start to finish there's a strong chance they had plenty of rework here and there. I understand your thought process, but a home with repairs is not like a wrecked car with body work. Just something to think about.
If I were the OP, I would be concerned about the long term effects of water damage, including the value of the house. Of course, I have no idea how significant the damage really is.
Posted on 9/21/20 at 9:26 pm to ktfsh71
Less than zero, contractors aren’t contractors because they’re charitable. Don’t drop that apartment lease just yet, your new house will be livable in six months. On the bright side, you now know it held up to the baddest MF’er our area has seen in a hunerd years.
Posted on 9/21/20 at 9:31 pm to lostinbr
quote:my bad, I didnt read closely enough. I thought all damage was cosmetic. If the house flooded that's a different story.
long term effects of water damage, including the value
Posted on 9/21/20 at 9:49 pm to ktfsh71
You may be able rescind the sale depending on the contractual language. Usually, you could rescind the sale for LA’s implied warranties against redhibitory defects.
Posted on 9/21/20 at 9:57 pm to MBclass83
quote:
don't own the house yet and you can put all that damage on punch list.
exactly. its a pain, but its not on you to ensure all repairs are made back to the quality agreed upon at purchase.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News