I am at a cross-roads with this situation and could use some help, please.
We have been looking for a house for over 8 months now. Went under contract twice, which both times didn’t work out because the lender said they wouldn’t qualify. I guess when they actually run the numbers, things change. I dunno. Our realtor stuck by our side. Now she is getting worn out (as are we, so I don’t blame her).
I was offered a job a while ago that had agreed to allow me to find a house to live in because they were paying for our relocation since I am moving from another state. NOT paying for the house – just providing me with a sign-on bonus. Finally found a house that we got an accepted offer. Planned the closing date for September 24th. JUST in time to start the new job.
Then a hurricane hit the area. We had to wait for 2 weeks to even do the inspection because there was no electricity. I pay $900 for the inspection. Inspector comes back saying that the house has foundation issues and needs roof repairs done. Seller agrees to pay for the foundation issue and wants to wait for the insurance adjuster to come out and see if they will cover a whole new roof (this could be great for us but we would have to wait another week or longer for an answer). IF the insurance company does NOT replace the roof, the seller has agreed to repair the parts of the roof that the inspector stated needs fixing.
Our realtor is pushing us to close this deal. She wants us to sign the inspection addendum outlining the repairs and have both parties sign off on the inspection period. This means that we must move forward with the house.
The realtor cannot give us a timeline of when these repairs will be completed. However, she keeps reiterating that this is not a long process and that the foundation repair company stated that they can have the repairs completed in 2-3 days. If they get it started ASAP, it can be done before the time we need to close.
Sorry for the long message- I just need to know what you think we should do. If we don’t sign the addendum, we cancel the contract and we have no house and I therefore have no job. However if we do sign the addendum, we could be committing to a house that needs these repairs and there is no guarantee that it will be completed in time for me to start the job anyway. Another fear I have is finding a place to stay to start the new job. Currently, there are no hotels available. The local hotels are only housing evacuees whom have been provided FEMA housing funds. I don’t currently have a job and I have 3 kids so my husband and I are afraid to move our family to a new state and not 100% be sure that we will have a roof (literally!) over our heads 😊
Thank you for your insight and sympathy towards our situation!