Friday, August 8, 2008

Holy clusterfart...

Dear Lawyer,
we did a walk through again last night and while the current owner has done some work there are still a few issues that concern me.
The lid of the toilet tank still has not been fixed and remains cracked.
Under the sink in the bathroom there is still tape around the pipe. We had asked that that be fixed upon recommendation of the inspector. I cannot tell if it has been or not. What I see is black tape still around the pipe. This concerns me.
While he eliminated much of the mildew that was in the shower I'm concerned that the mold has gotten into the drywall and will continue to spread and will be an issue in the future.
Perhaps we request that he set aside funds in escrow so that if the bathroom does need to be redone it doesn't come out of our pockets? Please advise on this idea.
He removed the closet door with the broken mirror and purchased new doors but has not installed them.
The last issue isn't really an issue but more of a question for the seller.
The kitchen cabinets all have electrical wires running through them and there is what appears to be a light switch in two of them. (One on either end cabinet) I'm confused as to what these wires are for and what the switches are for.
I've enclosed photos of all my areas of concern.
Thanks so much for all your help to date.
Sincerely,
ME

Hi Mike:

I have been advised by the sellers attorney that the seller will not fix anything else, as he is tapped out and does not have any additional money to put into this deal. As it stands now, he has to come up with over $7K to close on Monday, which I was just assured by his attorney will be in my trust account before the closing which is now scheduled for Monday, 2 p.m., at my office. Please let me know if you still wish to go forward. I must tell you that should you terminate the contract, the legal fees, aggravation and lost mortgage fees that you will incur will far exceed the cost of hanging the doors, and repairing the bathroom sink and toilet. I have received written confirmation from Orkin that that extermination service was performed last week on 7/31. Please advise. Thank you.

Dear Lawyer,
I am at the doctors office and my wife is out and her phone is off so I will call you tomorrow to discuss. Can you give me a ballpark price of fees if we terminated? The bathroom should have been repaired and it shouldn't be my problem he has no cash. This whole deal has become a mess and I don't know what to do until I talk to Diana but it may be worth hedging my bets at this point. I will call you in the morning

Thanks for all your help,

Mike

Let’s talk tomorrow morning. At this juncture, you are probably out several hundred dollars to your lender, as well my fee, which at $1,250 has turned into an absolute bargain given the amount of time I have spent dealing with this mess. The seller’s attorney is currently holding your $10K deposit. If you terminate the contract, I would be surprised if the Seller authorizes his attorney to just voluntarily give it back to you and walk away. Likewise, the seller cannot just take your deposit. What usually happens in these types of cases is that each party digs in their heels, in which case one of the party files suit and the parties then litigate over the deposit, which will remain in the seller’s attorney’s trust account, and damages. That type of litigation usually drags on for at least a year, if not more. I would be disqualified from representing you, as I am now a witness. I could easily envision you spending legal fees well in excess of your deposit trying to get it back. The seller would have the same problem. Nobody wins…except possibly the litigation lawyers.



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