berniek: "Some people just don't understand, it's not done or needed in most real estate transactions." Its not needed only IF a person does not wish to protect their interests in the best way possible...I can also see how a trusting buyer may actually belive that if another "interested party" continually tries to convince them of such...which may account for why some folks don't do all they can to look out for their interests in such matters... berniek: "and the attorney does not disclose to his client any known previous defects, that would be another reason for me not to use an attorney. LOL! Yes indeed...lets dump attorney client privilege just so an attorney can divulge privileged info that may or may not even be valid..." Surely you jest? As I said before.....defects that existed may have been repaired...new defects may have materialized...defects may exist that were not noticed by the previous HI... Bottom line...the only way for ANY agent and/or attorney to best protect their client's interests in this respect, is to advise them to have a THROUGH home inspection performed...educate themselves enough about the process in order that they can advise them against bogus testing procedures...and get their client to understand that what matters is the house as it is NOW...not as it may have been a month ago...3 months ago, etc. As far as hidden or latent defects are concerned...the only entity who will know of them..if at all...is the seller. So all this "quest for disclosure" on the part of an agent should be really directed at getting the seller to do their part...and not in using an outdated and therefore now irrelevant HI report in the guise of "informing" future buyers. This is hardly rocket science.but I guess for some, it is (shaking head).

Patrick, Here in NC, we use a Due Diligence Period as you are aware. The appraisal is not REQUIRED to be performed during this period. However, it is very wise to do so, because if it comes back low, the seller has more incentive now to do nothing. The buyer still has to perform per the contract, or he/she will be in default. The buyer, if they do not move forward to purchase the home at the sales price, will be in default and the seller keeps the Due Diligence Fee, AND the Earnest Money Deposit. These funds are looked at as compensatory in nature and not punitive, therefore the seller would still have the option for mediation against the buyer for the breech. Personally, I let my client's lenders know exactly what the Due Diligence date is and they know for sure that we expect the appraisal to be completed, AND delivered, at least 24 hours prior to this date. It costs about $400 for an appraisal, far less than the cumulative costs of the survey, the inspection, attorney costs (which they will charge prorated even if there is no closing), moving fees, and not to mention the emotional stress of waiting until the end to find out if the home appraises. So the arguement for waiting until the end in order to save funds is silly. Patrick, in our contracts, there is no conventional financing contingency... But, if the buyer's appraisal comes back low, and it is performed during the Due Diligence Period, they have the conventional options that would come with a financing contingency. Your buyer's agent and lender is putting your buyer at risk by not having the appraisal done during this time. They also lose all leverage to negotiate with the seller to lower the price to match the low appraisal, because the seller knows that the buyers have to perform, unless they want to lose their fee and deposit. Yes, as of 2011, when we switched over using the Due Diligence clause, the buyer will lose the Earnest Money Deposit and the Due Diligence Fee if they back out of the deal for any and or no reason except for a seller default. As far as how to entice the buyer to get the appraisal soon, you would first have to find out why they have elected to wait to do it until the very end. My guess is that their agent and their lender just dropped the ball and do not understand the repurcussions if it does come back low outside of the Due Diligence Period.

That looks really nice. I have a guest room that doesn't have a closet. In there right now is a big, heavy wardrobe type thingy that takes up too much space. You've got me thinking about getting rid of that and replacing it with the rack. I like how you rearranged the room. Everything fits nicely without looking over crowded. Now that I've seen the rack, I'm not sure that you need to hide it. Some nice rectangular baskets on top for storage of light things like scarves/gloves, etc., might be all it needs. Then a nice piece of artwork on the wall as suggested by someone else and you'd be all set.

hi Denita, she made it on our behalf. Yesterday, she indicated it was put in the mail. Our next step is to do exactly as you said. We might ask for claim no and contact ins. Company directly. ETA sorry if there is confusion re he or she. Our initial lawyer is a he, when the trouble begsn he passed it down to another gal in his firm. we have never spoke or heard from him again. To think he wants us to review our wills etc. with him! Not!