On Tue, 11 Jul 2017 22:05:29 -0700 (PDT), dsi1 >
wrote:

>On Tuesday, July 11, 2017 at 6:44:09 PM UTC-10, John Kuthe wrote:
>> On Tuesday, July 11, 2017 at 4:31:34 PM UTC-5, Sheldon wrote:
>> ...
>> > John will let us know WHEN HE'S READY... it's the FERRET SYNDROME.
>> > LOL-LOL
>> > Ahahahahahahahahahahahahahahahahahahahahahahahahah aha. . . . .
>>
>> We (me and sellers) signed a closing date extension to July 21 and may have to push it back further depending on how much work I can get contracted to do because that satisfies the occupancy permit inspector's fail points.
>>
>> I know how this works, This is designed to prevent real estate properties from declining into dust if at all possible, and I wanna restore the red clay 1/2 pipe roof and brick and tile front porch back to original or better condition, and it's gonna be expensive. But I will find a way to do it!
>>
>> And the $375 A/C repair today did wonders!! The first floor A/C is actually functioning as it should and keeping the first floor at 77F which is it's setpoint. And I even turned it down to 76F for nighttime! YUM!! And it does it easily now!!
>>
>> John Kuthe...
>
>That's kind of goofy. I would have made the sale contingent on the owners getting
>their property in compliance.
>That seems only right and natural.

That's how it's normally done, or the seller reduces the price by what
it would cost to comply.... however in my experience a property
needing such extensive repairs takes so long to remedy and reinspect
that typically the closing doesn't happen. It was very foolish for
John to invest in the A/C before closing.... and having A/C is not
required for a CO. But this is a rather strange deal as John lives
there so is essentially renting with the option to buy (or first right
of refusal), whereas in such a case it's normal for any future rent
paid to be subtracted from the buyer's cost. John is ready, willing,
and able to buy so he should not be penalized for the seller's
neglect. After following this transaction were it me I'd have long
ago walked away and bought a much better property. In fact I'd not
consider buying such a property, that it's for sale tells me that
college town rooming house is not at all profitable.... with all those
repairs needed it's a LOSE LOSE situation. Very often when someone
inherits cash they don't spend it wisely: Easy Come Easy Go!