Too good to be true.. buying a home

[DisneyPFamily]

Hello!
I chose to create a new name on here to post this anonymously.

I found a great home, and man have we been looking for the longest time.

We are paying cash for it and got it for a good price. Attorney review is on Monday- both the bank who is the seller, (It's an REO property) and myself signed the papers on Friday.

Here lies the problem- yesterday when I walked through the home w/ my agent (I've been in the home plenty of times, we just went back again to re look at things because I will need to obtain a certificate of occupancy). Soo I noticed a dead roach near the sink. I called my realtor over and she said "Looks like an ant to me". Later that day I bring my family over, I also notice these dead roaches all over the place. I KNOW it's a german roach b/c after seeing it, I went home and googled it and yes those are roaches.

This home I am buying is As Is. I can't get any credits during the home inspection- and I will for sure need an exterminator. This house was our "dream home that's within budget". There were multiple offers but they took ours because it was aggressive ($11k below list price) and cash deal. The seller (the bank) wants to close in 2 weeks and we are prepared to do so. Any of the other people who bid on it would not be able to close in that time frame if they are obtaining financing--- that takes at least 30 days ?

Anyhow, I am upset right now b/c everything I'm reading online says there's a huge possibility that the roaches will not be 100% gone and out of the home after the extermination of them. A roach infestation is not something I think I can handle. I would be constantly worried.

We go into attorney review on Monday- will I lose my $1,000 certified check that was made payable to the seller (The bank)'s attorney?

Anyone who is a lawyer or a realtor, seasoned buyer or seller, or who has advice, please please help!

Will be dealing with everything on Monday morning but wanted to get some extra info to be armed with. I really trust you guys on here and I really would appreciate opinions!


PS- I also had a general contractor come and due a thorough inspection of his own (He's a friend of the family) and he thinks I should have offered less. There are some air vents in the attic that are not up to code, the water heater needs to be replaced, etc. Honestly, all of that does not bother me as much as the ROACHES.

 

[yesiamcrazy]

I am not a relator or any professional with housing, but I have dealt with german roaches in my first house. I tried battling them myself with little luck. Called in a professional. Never had to deal with them again.

 

[DisneyPFamily]

I am not a relator or any professional with housing, but I have dealt with german roaches in my first house. I tried battling them myself with little luck. Called in a professional. Never had to deal with them again.

Did you use a big company like Orkin? Wondering if the success of getting these things out of the house completely is which extermination company to use--

 

[amber_cntrygrl]

I worked for a pest control company for 8 years until I had my baby and decided to stay home. If it is German roaches, depending on how bad the infestation is, it could take a few months to completely eradicate the problem. That's only of they're so bad they're crawling on you when you walk in, though. Gross, I know. If there's only a slight problem, it shouldn't take more than a couple of treatments to get rid of them. From the way you described it, it sounds like you should be fine. Hope that helps!

Sent from my iPhone using DISBoards

 

[purpledisneyprncess]

Don't have many answers for you regarding the real estate transaction, but I know my SIL's mom had roaches in her home. She said it must have gotten in from the grocery store bags. She never had them before. Her mom exterminated them & they still came back?? Hoping that is not the case for you- but those suckers are nasty.

 

[LuLuO]

That would really bother me too. Not sure if I could do it as I had a horrible experience with german cockroaches in an apartment building. I'll spare you the details but it was like a horror movie.

Can you get an exterminator in there to inspect? I'd want their opinion before moving forward. There may be a lot of work that needs to be done other than spraying. Getting rid of them could be quite costly.

Unfortunately, 'As-Is' houses usually seem come with a slew of issues. We looked at a few when we were searching for a house and that was just not a road we were prepared to walk down. If you have the time and money to do the fixes (we did not), no problem. If not, you may want to pass depending on what the professionals come up with.

Good luck OP.

 

[tvguy]

Sounds like you saved more than enough on the as is sale to pay for pest control. The basic rule of risk and reward. You bought a house as is at a good prices.....you just may have to spend a little of that money you saved to fix a minor issue.

 

[bumbershoot]

Soo I noticed a dead roach near the sink. .... I also notice these dead roaches all over the place.

Doesn't that sound like the owners already had the exterminator there? When I lived in an apartment building being remodeled and the critters were showing their displeasure of the construction, they certainly weren't DEAD roaches.

 

[jrw118]

Is there any way you can have an exterminator come to the home prior to putting the money down? This way you would know exactly what you are dealing with. It may be $$ out of pocket but it would at least ease your mind.

 

[donkeyandshrek]

Short answer to your question, yes you will lose your earnest money if the contract has been signed by both parties and you don't follow through.

However, call a reputable exterminator in your area - your realtor should have names and numbers of all of them. Get their opinion before making any rash decision to bail on the deal.

You will encounter things you didn't know about as you go. That's true in any home purchase. Just remind yourself, you still have your dream home at a price you can afford and count your blessings.

 

[lost*in*cyberspace]

You bought a house "as is." Unfortunately the roaches may be the least of your problems. Talk to an exterminator and be prepared for further issues.

$1,000 earnest money is nothing. If this issue really concerns you, you might just want to walk away.

 

[lucigo]

We dealt with this problem in Florida in a rental house, then brought them with us to our new home which was SO depressing because they got into our electronics. After wasting money and time on do it yourself and local companies it was Orkin that was well worth the $80 every two months to keep us completely bug free. Have them come out before you move in.

 

[yesiamcrazy]

Did you use a big company like Orkin? Wondering if the success of getting these things out of the house completely is which extermination company to use--

No, I live in a smallish area. No big name, just a local exterminator

 

[jedijill]

My parents bought a home in the early 80's from a woman who was an alcoholic and had let the house just go to heck. She had to be checked out of rehab for the day for closing and then was checked back in. We went into the house and had to finish cleaning out all the liquor bottles and the entire house was infested with roaches. My parents hired Orkin to come in and treat the home (not sure how many treatments it took to get rid of them) but we never had a roach problem again after that.

Point to my story is that the roach problem doesn't have to be long term. Just get the exterminator in there and start treating. It won't be long until they are gone and you won't have to worry about them anymore.

Jill in CO

 

[Gracie09]

Get the house inspected for everything not just the pests. If there are major issues that you don't see you can back out of the contract and it may be the best money you have ever spent.

 

[Luv Bunnies]

I don't think I would go so far as to back out of the sale. As another poster said, you're saving quite a bit on an "as-is" house, so there are bound to be a few issues. When we started noticing roaches in our house and garage, we called the Orkin Man. We also had ants in the kitchen every summer. We signed up for an every-other-month service. It's costs just over $100 a visit, but it's definitely worth it. They inspect for pest and rodent activity, take care of wasp nests, and fix loose vents or possible entry points for rodents. Then they spray the entire perimeter of the house. I sometimes find a few dying roaches outside, so the spray definitely kills them before they have a chance to get in. We haven't had any ants since starting the service, and we get very few bugs in our house (unless they fly in!). You might need an initial treatment, and then sign up for periodic maintenance treatments. It's totally worth it!

 

[pyrxtc]

find out about getting a home warranty. We just purchased a home from the bank and they paid for the warranty and it covers anything wrong with the house within the first year. we just pay a co-pay to the person that comes out to fix it. Ours was as is too but they fixed a lot to make it livable. They probably sprayed for bugs but they won't tell you that most likely. Ask your Realtor to find out what they can.

 

[Praying Colonel]

Home warranties often exclude pre-existing conditions of which you were aware. If you do buy a home warranty, make sure and check what's covered and what's excluded.

Even if the home is being purchased as-is, I'd still want a thorough inspection of the structure and for pests. I still want to know what I'm getting into, and if it's a money pit, walking away and losing "only" $1,000 could be the best outcome.

 

[OklahomaTourist]

If you've bought the home "as-is," and you have no contractual provision for at least some sort of pre-purchase inspection, you may have to face the idea of losing your earnest money and walking away if its that great of a concern to you. Even at that, if you opt to walk away, you may open the door to the possibility of a breach lawsuit from the other side.

Seems to me there are plenty of good exterminators out there, and this isn't the first time cockroaches have been a problem somewhere, so the $11K you're saving should more than cover the cost of a good treatment from a reputable pest control company.

 

[delmar411]

Hello!
I chose to create a new name on here to post this anonymously.

I found a great home, and man have we been looking for the longest time.

We are paying cash for it and got it for a good price. Attorney review is on Monday- both the bank who is the seller, (It's an REO property) and myself signed the papers on Friday.

Here lies the problem- yesterday when I walked through the home w/ my agent (I've been in the home plenty of times, we just went back again to re look at things because I will need to obtain a certificate of occupancy). Soo I noticed a dead roach near the sink. I called my realtor over and she said "Looks like an ant to me". Later that day I bring my family over, I also notice these dead roaches all over the place. I KNOW it's a german roach b/c after seeing it, I went home and googled it and yes those are roaches.

This home I am buying is As Is. I can't get any credits during the home inspection- and I will for sure need an exterminator. This house was our "dream home that's within budget". There were multiple offers but they took ours because it was aggressive ($11k below list price) and cash deal. The seller (the bank) wants to close in 2 weeks and we are prepared to do so. Any of the other people who bid on it would not be able to close in that time frame if they are obtaining financing--- that takes at least 30 days ?

Anyhow, I am upset right now b/c everything I'm reading online says there's a huge possibility that the roaches will not be 100% gone and out of the home after the extermination of them. A roach infestation is not something I think I can handle. I would be constantly worried.

We go into attorney review on Monday- will I lose my $1,000 certified check that was made payable to the seller (The bank)'s attorney?

Anyone who is a lawyer or a realtor, seasoned buyer or seller, or who has advice, please please help!

Will be dealing with everything on Monday morning but wanted to get some extra info to be armed with. I really trust you guys on here and I really would appreciate opinions!

PS- I also had a general contractor come and due a thorough inspection of his own (He's a friend of the family) and he thinks I should have offered less. There are some air vents in the attic that are not up to code, the water heater needs to be replaced, etc. Honestly, all of that does not bother me as much as the ROACHES.

Be aware that if you force the banks hand they can back out as well. And we closed on our house in 2 weeks with an FHA loan, we had a bank deadline to beat as well. I had to hustle and had a mortgage processor and title company that hustled as well but I could have done conventional financing even faster. So just being a cash buyer isn't an ace although its a very strong position to be in.

I would have brought an inspector with me when touring the home if I wasn't putting in an inspection back out in the sale contract. But now you are stuck so you have to make the decision to whether losing the $1k is worth it or if you can handle all the needed repairs and exterminations.

I hope you already had a termite inspection to make sure the structure isn't being eaten.

I personally would just start exterminating and treat until you are comfortable and don't move in until you are sure they are gone.