If I have a contract for purchase a home and now it has been damaged, who is responsible for the repairs?
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If I have a contract for purchase a home and now it has been damaged, who is responsible for the repairs?
The home has been damaged/vandalized and the selling agent is asking me to up my offer to pay for the damage. Is this legal? Am I liable for this damage?
Asked on January 11, 2012 under Real Estate Law, Georgia
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The first thing that you need to do is to carefully read your purchase agreement in that the presumed written agreement that you have to purchase should state whose risk of loss for the repairs for any damage on the home before close of escrow lies upon.
If the written agreement is silent on this issue, then under the law of your state, the owner of record would be responsible for the repairs so that you can close escrow on the property in a timely manner. I would not up your offer to the seller of the property. You have a valid contract to purchase the property. The seller needs to make the corrections. If you have problems getting the sale closed, you should consult with a real estate attorney on the subject that you have written about.
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