What can I do if I’m being required to “re-repair” a property before I can purchase it?

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What can I do if I’m being required to “re-repair” a property before I can purchase it?

I am in the process of buying a foreclosed home. The home has/had mold growing in the laundry room but I wanted it anyway. Because I am using a FHA loan my realtor said that it would save me time and money if I hired someone to fix the mold before the mortgage company ordered the appraisial. So I asked a friend to come out and work on it and he did. He is not licensed in mold remediation. The mortgage company is now asking that I hire someone that is licensed to come out and fix the problem before they will give me the loan to buy the house. I know I shouldn’t have fixed it but what can I do?

Asked on July 6, 2011 under Real Estate Law, Minnesota

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

I realized after re-reading this that you state that the home is foreclosed.  I apologize.  Are you purchasing it from the lender?  Or prior to foreclosure?  Still the issue of abatement should be dealt with in the contract.  even if purchsing it "as is" you are still entitled to some negotiations on these matters, even if it means time to get the work completed and money held in escrow. 

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

First of all, do you have an attorney helping with the purchase of the property?  You need one.  The abatement of the mold should have been the responsibility of the seller, not you as the buyer.  Or if the seller refused then there should be an adjustment in the purchase price.  So the fact that you did it - and with someone that is not certified to do it - leaves you in a strange place legally.  So that needs to be rectified.  I would suggest possibly having someone come out to certify that the mold has been abated and see if there is a need for additional work - which an inspection of the premises would do anyway and should be done before purchase - and then decide accordingly how to handle it.  Good luck.


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