Tomorrow I am scheduled to close on my first home but I am starting to get cold feet. The sellers allowed us to move in before closing and pay a fee. Long story short we hired an exterminator that discovered termites. We got several estimates from contractors for the damage and treatment and the sellers have agreed to pay for everything. What I am worried about is if I close tomorrow and the contractor discovers more damages while doing the work I don't want to have to come out of pocket for more money. The termite damage was found in a main floor joist so is there anyone that can look at the repairs this contractor is planning on doing and tell me if they are legit? Thanks for your help.
INTERIOR REAR MAIN GIRDER BEAM / RIGHT SIDE OF REAR ACCESS DOOR IN CRAWLSPACE SECTION
A) INSTALL 14 POST JACKS TO SUPPORT 14- 2X10 FLOOR JOIST AT RIGHT SIDE OF GIRDER BEAM #1 AT REAR OF CRAWLSPACE / STARTING AT SIDE CONCRETE BLOCK WALL TO SECOND PIER CONSTRUCTED OF RED BRICK.
B) REMOVE / REPLACE 24 L.F. OF 2X4 SADDLE ATTACHED TO GIRDER WHICH SUPPORT EXISTING FLOOR JOIST AS PER ITEM "A"
C) INSPECT GIRDER / DOES NOT APPEAR TO CONTAIN DAMAGE.
D) REMOVE / REINSTALL 6 L.F. ROMEX ELECTRICAL RUN NEAR CONCRETE WALL SECTION.
TOTAL PRICE $3,390
It is hard to tell how much work it is to get this done, as in getting equipment in and setting up for lift. It would seem the contractor has looked as close as he could but there alway could be surprizes.
Your contract with the sell should have them fixing it, the price to be up to them. but if you have settled at the quoted price, it's a little late to worry about it.
As you have moved some stuff in, I think your deal is done and signing the papers is just a formallity.
Congats on buying a house and welcome to the site.
Been in this situation (sort of) with undisclosed previous fire damage. We developed an estimate then doubled it and had the money conveyed at closing from the proceeds so the deal would go through.
It worked, the damaged got fixed for less than the total money . . . which allowed for other repairs.
Hope you have time to do this. :D
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