Industry News

Real estate transaction from hell

Water destroys buyer's hardwood floors
Published on Apr 23, 2004

Editor's note: Would you like to share your personal "Transaction from Hell" that you successfully (or unsuccessfully) closed? Send the "gory details" and what you did to close the transaction to [email protected] Inman News will publish the best submissions in future columns.   Susan and Bill Morris wrote a contract for a house in a nice subdivision outside Columbia, S.C. Everything went well from the loan approval process through the closing. The next day the movers accompanied Susan and Bill to their new house. As soon as they opened the front door, they noticed a musty smell. Upon entering the kitchen, they discovered the source of the odor.   The sellers of the property had not properly capped the icemaker line that attached to the refrigerator and water had leaked onto the hardwood floors in the kitchen, dining room and living room. All the boards had curled and large gaps had developed between the hardwood boards. Susan and Bill called a contractor to give them an estima...

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