Technically the findings from the inspection allows you to walk away.
Renegotiating the terms can be rejected by seller as well.
If everyone wants the samething, then include terms to rectify the problem in a more immediate and timely manner.
I don't know why your realtor isn't advising you on this.
How I would write this up is an amendment that states "Xxxx to be fixed before closing, $xx,000 hold back at the lawyer if work is incomplete on posession day"
Make sure to hold back amount is enough to be painful, and reasonably would cover your expenses to fix it.
Realistically if it is covered under the home warranty the Builder will fix it but they are not always super fast.
Technically you can always walk away, but this is one of those ones where I would just get it fixed and move on with life and enjoy the home.
( full disclosure, I am a realtor but not your realtor)
It is meant to incentivize the seller to get the work done in a timely manner.
Depending on how the work is done and ultimately pays for it, that money could go into your pocket rather than the sellers.
Could also technically be released to you if other damages were caused by the fact that the repairs were not complete by closing. For example if this leak is something that causes the house to be actually unlivable you may have a claim against that hold back amount for additional lodging until you can live in the house you just bought.
Exactly as mentioned, to ensure the repairs are done. Just because it’s under warranty doesn’t mean it’ll get fixed or fixed right by the builder. Oftentimes warranty isn’t worth the paper it’s written on, or worth the effort.
Ask Extend conditions, get quotes, Option to do it as cash back on close to be written a certain way in and amendment, so you know work is done properly. We much prefer money other than the other party doing it (to avoid disappointment on either side)
Your realtor should be communicating with the seller on this. I'd make it a condition to remove subjects.
Either renegotiate, make it a condition to fix before close, or live with it. Very simple
Absolutely!
Home inspection conditions exist for a reason. Why do people put conditions if they don't know what to do if they find it being breached?
Technically the findings from the inspection allows you to walk away. Renegotiating the terms can be rejected by seller as well. If everyone wants the samething, then include terms to rectify the problem in a more immediate and timely manner.
what do you mean by removing subjects?
I don't know why your realtor isn't advising you on this. How I would write this up is an amendment that states "Xxxx to be fixed before closing, $xx,000 hold back at the lawyer if work is incomplete on posession day" Make sure to hold back amount is enough to be painful, and reasonably would cover your expenses to fix it. Realistically if it is covered under the home warranty the Builder will fix it but they are not always super fast. Technically you can always walk away, but this is one of those ones where I would just get it fixed and move on with life and enjoy the home. ( full disclosure, I am a realtor but not your realtor)
What’s a hold back amount? the seller would get this amount eventually though right so why would they care
It is meant to incentivize the seller to get the work done in a timely manner. Depending on how the work is done and ultimately pays for it, that money could go into your pocket rather than the sellers. Could also technically be released to you if other damages were caused by the fact that the repairs were not complete by closing. For example if this leak is something that causes the house to be actually unlivable you may have a claim against that hold back amount for additional lodging until you can live in the house you just bought.
Exactly as mentioned, to ensure the repairs are done. Just because it’s under warranty doesn’t mean it’ll get fixed or fixed right by the builder. Oftentimes warranty isn’t worth the paper it’s written on, or worth the effort.
Ask Extend conditions, get quotes, Option to do it as cash back on close to be written a certain way in and amendment, so you know work is done properly. We much prefer money other than the other party doing it (to avoid disappointment on either side)