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do you have an attorney-approval clause in contract?

Posted by regina in IL on April 10th, 2000 07:30 PM
In reply to 38 Year Old Boiler and Corrosion on Fittings - Correct it for us, Please by Ethelene and Takis on April 10th, 2000 05:22 PM [Go to top of thread]

If you do, then a good real estate lawyer will make sure you have a "satisfactory home-inspection" contingency (among other contingencies which are equally important). Use a GOOD home inspector, not one of these fly-by-nighters. When he/she comes back saying the boiler's got problems, then your lawyer can talk to the seller's lawyer about what would make the sale go through. That will include some form of bc's response--either they fix it, or they pay the cost, or they reduce the sale price accordingly, or some other remedy you decide is satisfactory. Sometimes the parties split the cost, where the buyer has their heart set on the house. Do NOT skip having a home inspection, even if you don't really want to spend the $300 to $500 it will cost. It may save you making a horrible mistake in the tens of thousands of dollars. If the boiler's in corrosive condition, you can rest assured there are other problems as well, and probably not as readily apparent. If Home Warranties are available in your area, I highly recommend purchasing one if you buy this house. Or get your family/friends to purchase it for you as a house-warming gift. My receptionist just had her water heater replaced and installed for the $50 deductible. Her Warranty just paid for itself, several times over.

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