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What do you think is your major responsibility once you sign the purchase agreement?  

Signing the purchase agreement

In 99% of all Metro Detroit purchase agreement there is a clause that says "property, land, and buildings are to be in same condition at closing as they were when the purchase agreement is signed".

What that means to you the seller is that if the home is damaged between the signing of the purchase agreement and the closing date you either have to fix it or you may have to provide compensation to the buyer.

Tree on RoofFor example if you take that antique chandelier after you sign the purchase agreement then you are in the wrong.  If a hail storm damages the house or a pipe bursts in the house you have to get the insurance company to fix it. If a huge tree falls in the yard you have to remove it.   If you knock a hole in the wall you have to fix it and paint it.   If the dishwasher stops, then you have to put a new one in. Any damage has to be fixed and put back in the condition it was when the buyer saw it and signed the purchase contract.   

Antique chandelierBelieve it or not I have run into all of these situations in my 18 years of being a real estate agent.  A seller took an antique chandelier out of the dining room.  They had to return it.  A major hail storm came through Highland a few years ago and caused $30,000 of damage to the roof, siding, deck, and gazebo of a home my buyer was purchasing.  The insurance company fixed it.  A mover pushed the refrigerator water line into the wall.  Water ran for 10 days from the kinked water line.  The basement ceiling, wall, and main floor wood floor had to be fixed.  A huge Willow tree broke in half and partly fell in the lake.  The seller had to compensate the buyer for removal.  It is bad luck but sometimes those appliances break before the buyer moves in.  You are responsible for a dishwasher. 

In order not to have issues at closing it is best to get the repairs done and notify the buyer of the repairs being done.  Yes it is aggravating, but you have to repair or replace the dishwasher.  You may have to buy a brand new one if you cannot find one that looks similar.  Sometimes it becomes a conversation with the buyer on what to do and how to do it.  Let's say the roof was damaged and your insurance company is going to pay for a new roof.  It's in your best interest to ask the buyer what color of shingles they want.

DishwasherSometimes you the seller may have to buy a brand new appliance even though it was a 20 year old appliance.  It is aggravating to have to pay for the repairs or damage, but you have to do it.  It does not matter if it was caused by weather or an Act of God.  The house absolutely has to be in the same condition as when the buyer saw it.

I have seen closings put off for a month or more because the seller tried to get around this and not pay for the repair.  You cannot cancel the closing (the deal) because of this.  You have to make it right.  It's in the contract and the buyer would have the right to sue you and hold off closing until it was made right.   

If you are thinking of selling your home give me a call I will be glad to talk to you about it.  My cell is (248) 310-6239

    Russ Ravary

    "helping make your move easier"