Q: The home I am buying is listed in the name of a company, Inc. I did redearch and found the married couple behind the company name. I am suspicious that the only reason they have a “inc.” is to protect their personal assets. I just got the home inspection report and the home has maMAJOR defects. I have the feeling these are not people of integrity and honesty (based on the seller’s disclosure) and that they bought the home to “flip” and yet it is in bad shape. My 1st deposit is due in 8 days. Do I trust my attorney to guide me through this deal, or get out now? Please help, I haven’t slept in days.
A: The one you should ‘trust’ & listen to guidance from – is your instinct (or ‘gut feeling). I applaud you for having a real estate attorney help, but your home inspection, the bank appraiser & you own eyes will be the other major factors to pay attention & listen to. The sellers are involved in the selling side of a business transaction, you should keep it to business with the buying side. It makes no difference if they are buying it to ‘flip’ or make a profit. Make sure that you know what you are buying & the condition of each & every component. If you are not & you cannot work out an agreeable remedy, then look at your options to walk away (without penalty).