Real Estate

After Closing

  • Last Updated:
  • Jul 28th, 2021 5:52 pm
Tags:
6 replies
Sr. Member
Aug 17, 2018
630 posts
1134 upvotes
The buyer buys a property as it is based on the condition the house was in on the day the offer was made and accepted. Any damage that occurs between date the offer was accepted and closing is in the responsibility of the seller.

Do you think that if the house burns down between purchase and closing that the buyer would just have bad luck and need to carry that?
Deal Addict
User avatar
Jul 4, 2009
1664 posts
1069 upvotes
Windsor, ON area
Not an expert, but I would think if it's before closing, the fix should be done by the seller. Regardless of waiving inspection, everything given over to new owners should be in working order.
[OP]
Deal Addict
Nov 2, 2014
1123 posts
439 upvotes
Scarborough, ON
JanZ95915 wrote: The buyer buys a property as it is based on the condition the house was in on the day the offer was made and accepted. Any damage that occurs between date the offer was accepted and closing is in the responsibility of the seller.

Do you think that if the house burns down between purchase and closing that the buyer would just have bad luck and need to carry that?
What if the sump pump was already busted before the buyer agreed on the purchase?
Deal Addict
Mar 10, 2014
4070 posts
4510 upvotes
Until the home closes, the seller is responsible for a working sump pump as well as the clean up.
Sr. Member
Aug 17, 2018
630 posts
1134 upvotes
RobertSmalls008 wrote: What if the sump pump was already busted before the buyer agreed on the purchase?
Was the sump pump mentioned in the listing? By the sounds of it, the minor flood was new and the buyer noticed it. If the flood happened before, was it disclosed? If not, no point in arguing.

A sump pump is $100-150. What happens if there is another flood that happens between now and closing that causes more damage? This will be on you. Look at it as flood insurance and just spend those $100 for crying out loud.

When I bought, the HWT broke down 1 month before closing. The seller replaced it without even complaining about it. If you buy or have already bought a new home, I hope the seller you deal with will be more understanding and courteous than yourself.
Deal Addict
Mar 30, 2017
1217 posts
977 upvotes
GVA
RobertSmalls008 wrote: What if the sump pump was already busted before the buyer agreed on the purchase?
that maybe the case, and subject to argue, but the flooding certainly wasnt, so do the flood damage.
.

Top

Thread Information

There is currently 1 user viewing this thread. (0 members and 1 guest)