# Undisclosed problems?



## chaudi (Sep 10, 2009)

If you make an offer on a place, say a very low offer and it's accepted. Then the inspection reveals say 20k of problems that were unknown or undisclosed, is the seller obligated to reduce the price?

Also is the agent allowed to lie and say there has never been an inspection before but really they know very well the problems?

I have to pay for an inspection but a funny feeling the agents knows already what's wrong with it, that's because maybe 100 people have viewed it already in the last few months it hasn't sold except for dumb me. But my offer was very low, 20% less than asking.


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## Spudd (Oct 11, 2011)

If you made your offer contingent on inspection, then you can revise the offer after inspection if it finds any problems that you didn't know about beforehand. If the offer was not contingent on inspection, then you cannot.


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## HaroldCrump (Jun 10, 2009)

The bigger question is why the seller is considering an offer 20% below asking.
There must be a reason.
Maybe the house is sitting on quicksand - who knows.


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## kcowan (Jul 1, 2010)

If the inspection reveals serious stuff, then the offer is withdrawn. It is not adjusted by the amount of repair unless that was specified in the offer.


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## Spudd (Oct 11, 2011)

Well, yes, but you can then submit a new offer which is lower by the needed amount, if desired.


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## chaudi (Sep 10, 2009)

i guess i find out tomorrow at the inspection. I took marianne advice and am moving to Orillia, hey what could go wrong?


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## NotMe (Jan 10, 2011)

chaudi said:


> i guess i find out tomorrow at the inspection. I took marianne advice and am moving to Orillia, hey what could go wrong?


Well, the first mistake was moving to Orilla.


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## chaudi (Sep 10, 2009)

NotMe said:


> Well, the first mistake was moving to Orilla.


What's wrong will Orillia?

http://www.thebarrieexaminer.com/2011/05/10/barrie-and-orillia-tops-in-real-estate-report


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## Berubeland (Sep 6, 2009)

Is that your new basement apartment Chaudi? I hope they're paying you well to live there ;-)


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## kcowan (Jul 1, 2010)

It's a crawl space pretending to be a basement. Very common in cottages.


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## Causalien (Apr 4, 2009)

Your RE agent should've put contingent upon inspection in the offer when you mentioned you want an inspection. If not the RE agent needs to be fired for "inability to correctly fill out form". I also don't think you should bother with a building that has huge defects and try to fix it yourself. You are not discounting your own time and effort of dealing with it and neither will they when reducing the price based on the defect.


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## chaudi (Sep 10, 2009)

Based on the inspection was able to knock the price down a but more. I'm sure there is no better deal sure it's a lot of work, but that's doesn't scare me. Most houses on the bottom of the market like this need to be total renovated anyways, but when the owner thinks in it so lovely the way it is it become a problem, they want you to pay for it, when really you plan on replacing everything. 
Orillia seems like a great place to live, when i say how friendly everyone is there and realize their actually a uni/college in town, it was like bing this is the place. These little town around towns around Ontario will never go anywhere with out secondary education, the skew of retires and locals is just too much. So a few 1000's students is just what people need.


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