Agent

Going halfsies on home repairs?

Home Sale Hindsight

Q: We were trying to buy a home that is owned by a credit union. We had a home inspection done and found that the furnace, roof and water heater all need to be replaced as soon as possible. The credit union did not agree to pay for any of the repairs and we walked away from the house, which we hated to do. Wasn't it reasonable to think that the seller should cover at least half of these expenses if not all of the costs? A: Reasonable? Sure. But reason matters not when dealing with a bank or other institution selling a foreclosed home. Banks are not people. They do not negotiate with the same types of motivation, flexibility, logic or reason that individual people do. Rather, they have a set of guidelines by which they operate. And the standard guideline for buying a bank- or credit union-owned property is that you take it in as-is condition or not at all. So, from that perspective, maybe it wasn't reasonable to expect the seller to chip in for the repairs. Did you feel that ...

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