Winston Salem | Buyer Possession Before Closing and Repair Obligations

 

Know Your Rights

QUESTION: My seller needed to delay closing, so the parties agreed to have the buyers take possession prior to closing in exchange for moving the closing date out two weeks. After speaking with an attorney, my client decided to use the Buyer Possession before Closing Agreement (Form 2A7-T) to memorialize the deal. Now that the buyers are in the home, I was informed that the heat is out and the buyers are requesting my seller pay to fix the heating unit. Who is obligated to make this repair?

ANSWER: Paragraph 3 of Form 2A7-T imposes on the buyer the obligation to maintain the property once they take possession. Paragraph 2 of the form states that the buyer waives any remaining due diligence rights and agrees to accept the property as it stands when they take possession. However, there is one important exception: “Seller shall not be obligated to maintain the Property after the Commencement Date, subject to any obligation that may be imposed on Seller by law.” (emphasis added).

Paragraph 3 of the Guidelines for Completing Buyer Possession before Closing Agreement (Form 2A7G) notes, “Though Buyer has a duty to maintain the Property, certain maintenance will remain the duty of the Seller by law (NCGS Chapter 42), such as making sure the Property is fit and habitable and providing operable smoke alarms.” N.C.G.S. § 42-42(a)(4) requires a landlord to “Maintain in good and safe working order and promptly repair all electrical, plumbing, sanitary, heating, ventilating, air conditioning, and other facilities and appliances supplied or required to be supplied by the landlord provided that notification of needed repairs is made to the landlord in writing by the tenant, except in emergency situations.”

Therefore, a seller will be responsible for the cost of repairing the heating system in the property since it is included within the list of obligations to provide fit premises. Furthermore, the statute prohibits the landlord and tenant from waiving the landlord’s legal obligations to maintain the premises, which is why this exception is included in our standard form. A seller should consider this obligation to maintain the premises when setting the rental rate for the buyers.

Release Date from NC Realtors: 1/11/2024

Winston Salem: One of the 50 Cheapest Places to Retire Across America

 

To pinpoint the cheapest places to retire, GOBankingRates analyzed and ranked the 100 biggest U.S. cities based on the annual retirement income needed to cover basic costs, including housing, healthcare, groceries, transportation and utilities. We also rated cities based on their livability, and only considered cities where the percentage of seniors in the population was 10% or higher. 

6. Winston-Salem, North Carolina

• Total annual expenditures: $42,390.63 

• Percent of population age 65 and older: 15.67%

• Livability score: 64

Winston-Salem is one of the best places to retire on a budget thanks to a cost of living that’s  18.7% lower than the national average. Housing is also really affordable here, at 37.5% less than the national average, or $11,795.00 per year.

Dear Winston Salem Area Home Owner

 

Dear Client or Future client,

Thank you for visiting!  

I am happy to provide a report showing homes recently closed at no cost or obligation to you.   The report will show averages for price and for days on the market.    

 Knowing report may be based on not having seen the home it may not be 100 percent accurate; I am sure we can narrow down the range of what your home might sell for.  If I could visit the home when you are ready, I am sure we can come up with a more accurate range.  

I would love the opportunity to meet with you and help you with your next steps.   A little about me.

·         I have been a Realtor for over 20 years.   I started this career while living in the Charlotte area.  I am a native of Winston Salem and my wife and I were thrilled to move back to the area 4 years ago.

·         I am thorough, knowledgeable and available.  I always hire professionals to help me market the homes I list so that your home stands out online.

·         I understand that your home is an important investment, so I never have a fee greater than 4.5 percent.   You will also find that I am willing to do everything I can to ensure you obtain the highest return.

Please feel free to call or email me with questions.  There is never any obligation for questions.

Sincerely

Roby Robertson

www.robyrobertson.com

Winston Salem - Have You Outgrown Your Current Home? Here Are Five Easy Ways to Tell if It's Time to Upgrade

 

Carolina Living can help you with selling your home and finding a new one.  We are committed to service, knowledge and professionalism.  

 Do any of these ring true?    If yes, let's talk about it!

Your home is your castle, your own little piece of the American dream. But lately, your little corner of the world has been feeling cramped and you find yourself eyeing those larger homes. Is it time to pull up stakes and move on from your starter home?

Growing Family

If you've added to your family in recent years, you may have more bodies than bedrooms. A two-bedroom home may have been a great idea when it was just you and your spouse, but with two kids, you're starting to have turf wars over the play area.

Overflowing With Stuff

From an overflowing toy chest to closets packed so tightly with shoes and coats you risk an avalanche every time you open the door, your home just doesn't have the space to keep all your things. You may have even had to move some things off-site, spending money to rent storage space to keep that antique dresser your grandmother left you or the set of state spoons you carefully collected during your college years.

No Rest For The Weary

You'd love to spend an afternoon soaking in the tub, but before the warmth of the water can take you away, there's a banging on the door of the only bathroom in the house and a chorus of “hurry up!” invading your quiet time. And the man cave you dreamed of? Those visions of a big screen television were shattered by the realization you needed somewhere for the kids to sleep.

No Room For Extras

When you first moved in, the two-car garage doubled as your woodworking shop. Now, the equipment has been sent to storage to make room for the family's second car. You'd love to take up organic gardening, but your tiny yard barely has room for a grill and a lawn chair. You'd love to host your friends visiting from out of state, but there is hardly room for their luggage, much less them.

Changes In Career

You may have opted for a starter home when you first entered the market because you had a smaller income. Now, thanks to changes in careers or promotions at work, you can afford a home with greater square footage and room for your growing family that will provide the space you need for many years of happy memories.

Contact Roby Robertson today and take advantage of the opportunity to give your family the most space at the best price now.