what should i make sure is in my contract when meeting w/my lawyer

everything is happening so fast! and i will fill everyone in later!!!:)

----but right now i would like to know what everyone made sure was in their contract when you met w/your lawyer (as a buyer).....did you put any money in escrow in case an appliance broke, what should the sellers be responsible for, what am i reponsible for, any advice would be appreciated!!

Re: what should i make sure is in my contract when meeting w/my lawyer

every contract is different. For us I made sure they put a 3 % seller concession. I made sure of that because that was covering all the closing costs, which I refused to pay. If there is anything your seller is supposed to fix or pay for make sure it is covered in it. Make sure you also have a close by date in there.

HTH

Re: what should i make sure is in my contract when meeting w/my lawyer

ummm...while all contracts are different...some/most of the provisions are the same.
Take a real good look at the report your inspector gives you. If there are issues that concern you....you must negotiate these issues prior to getting into contract....because for the most part you are purchasing this house in its "as is" condition as of the date of contract. Meaning....if there is a huge hole on the wall and you didnt tell the Seller to fix it....and its not on the contract...that is the way you are purchasing it...and at closing you cant bring up the hole issue and expect something in return. The plumbing, heating, a/c and electrical systems should be in working order at the time on closing and the roof free of leaks...this is standard. With respect to appliances....there is usually a cap as to how much the sellers liability is per each non working appliance. In our contract for example its anywhere between 250-350 per each appliance....its the house is over a million bucks....usually 500.00. So if the appliance dies prior to closing...your seller is responsible for the amount of the contract. If the appliance dies a day or a week after closing....its your responsibility.
Unless you are buying new construction.....there are no warranties or $$$ held in escrow to ensure things remain working for a period after closing. So make sure you use a great company for the home inspection.

I would make sure there is a mortgage contingency....in case for some reason you cannot get a mortgage you get your $$$ back.

I would definitely make sure that the contract says that there has to be certificates of completions/occupancy for the house as it currently exists....decks, dormers, pools, enclosed porches, finished basements...etc.

This is generally all standard....if there is a post closing possession...i would make sure that the sellers attorney hold a decent amount of $$ in escrow and a high penalty amount if for some reason they stay beyond the time allowed under the contract of sale.

if i think of anything else...ill let you know. Let me know if u have any other questions.

Re: what should i make sure is in my contract when meeting w/my lawyer

This is very timely! thanks for the suggestions

Re: what should i make sure is in my contract when meeting w/my lawyer

So can you ONLY put stuff in the contract that the seller is LEGALLY required to fix?

This house was being redone for the seller's brother in law then things went bad so he stopped working on it. So there's some things that have been started - like the cabinet in the bathroom has been put in its hole but not seled? in. There's a big gap all around it.

And some things just aren't done. Like I want to add the closets in - there are no bars and no holes to screw in the stuff for the bars. It seems like that should be essential?

Having a newer house inside was supposed to be good because dh and i aren't the handyman types.

Anyway, the lawyer basically supposedly said that if he doesn't have to legally do it (which is a lot like outlets that don't work, stove/diswahser/fride line not working etc) then we can't ask him to.

Re: what should i make sure is in my contract when meeting w/my lawyer

OK they basically said YES to everything but 3 things so I can't really say anything bad about this - I still think that they SHOULD do the closets but I'm not gonna fight that point!