Monday, June 18, 2012

Q: We were told there were several other buyers interested in the house we recently bought, so we put in an offer for a bit more than asking price and waived the inspection contingency.

Now that we’ve moved in we’re finding all kinds of things wrong. My father-in-law was here from Ohio and told us we were fools for buying what he called a "pig in a poke". He also said that some of the repairs needed could be expensive. I’m just sick about it. We feel that our agent pressured us and we wonder if you think he would be responsible for paying for some of the repairs.

A:  To get a definitive answer to your question about your agent’s responsibilities you should consult an attorney. I don’t know the details of your transaction and I’m not a lawyer, but I know that it’s always tempting to find someone else to blame when we make a bad decision. I never advise someone to buy a home without an inspection. However, a pre-inspection can be a good compromise. That’s when you have a quick inspection before making your offer. That way you know what you’re getting and can drop the inspection contingency if you still want to buy the home.

For now, I would recommend you get an inspection so that you have a detailed list of work orders. Discuss these with the inspector and the contractor you choose. Prioritize the work to be done and get to it. My concerns are always the roof, crawl space or basement, and electrical. These are the most important, in my experience. If any of these need attention get that work done as soon as possible.