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Encroachment and BINSR Response

We completed inspection on a house we really like and found the neighbor is encroaching. Their building has been encroaching for over a decade so they have a solid case for adverse possession. After the inspection we submitted the BINSR requesting some repairs, that an easement be written for the encroachment and that the lot price for the area be deducted from the purchase price.

The seller responded that they wouldn’t agree to any repairs given how costly it was for them to deal with the encroachment and asked our agent if we could cancel the contract because the encroaching neighbor doesn’t want to sign the easement without performing their own inspection first and this would push back our closing date potentially causing us to have to pay for a rate lock extension fee.

If we do cancel are we giving up our earnest money?

We really like the house and were willing to compromise on repairs as long as the encroachment was legally resolved. The only thing we wanted fixed was the HVAC and roof repairs amounting to around $14K.

Do you think it’s worth talking to the neighbor?

submitted by /u/KawaiiPChan
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1d9b5sk/encroachment_and_binsr_response/
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