Finding Structural Problems During Escrow Small Rural Home Example
In rural home purchases, the transaction is often subject to a satisfactory home inspection being done. Any imperfections are usually corrected during escrow. Now and then, however, a home inspection uncovers severe structural problems. What happens then?
Structural Problems Small Rural Home
With a small rural home purchase, the discovery of structural problems can be more problematic. Typically, neither the seller nor buyer has sufficient funds to undertake major repairs. Still, solutions such as the following one can be found.
The house was a 3 bedroom, one bath, rambler built on a crawl space set on a one-acre lot in a rural setting. The sellers were a husband and wife both of who were disabled. Im not talking about a slipped on a banana peel trumped up disability here. The husband had been electrocuted at work, spent 14 days unconscious and suffered a massive heart attack. The wife suffered from a progressive problem with arthritis. The buyer was a young widow with 3 children.
The home inspection turned up old termite and water damage. The termites had been killed and the...
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