Skip to main content

90 day close to address a deck that is too close to the water

I’m currently under contract for a lakefront home in Maine. the home is owned by a trust. The sellers asked for a 90 day close so their elderly mother can travel to the home to help pack it up. We ok’d it because we’re not in a hurry. During our due diligence period we learned that there was a bunch of unpermitted work outside. The sellers got most of it permitted a few weeks ago but the deck is 3 feet too close to the lake and needs to be addressed. There is an avenue for them to dispute the ruling which will take - surprise, surprise - 3 months.

We were granted an extended due diligence period that lasts a few more weeks. What is a reasonable concession in this situation? The deck will go from 10’ to 7’. We expect the sellers to cover the cost if their appeal isn’t granted and it has to be shortened. The listing did advertise the big deck as a selling feature and didn’t mention the permit issues. We’ve been in communication with the permitting office and have copies of the full permit history for the home now so we feel pretty confident that there aren’t any more unpermitted issues. They’ve inspected the home twice now to get the non- permitted work permitted.

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

source https://www.reddit.com/r/RealEstate/comments/1pts7fg/90_day_close_to_address_a_deck_that_is_too_close/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...