Escrow Problem. HELP!?

I'm about 2 weeks from closing escrow. All the paperwork is done except for final 5 day walk through.

I discoverd MAJOR counter-top damage that was hidden (hard to explain). Now MY agent is telling me there is nothing I can do. That I don't want to reopen the contract because there is a second offer pending if we back out.

But, I agreed to buy a house with a kitchen counter at a certain price. Now I will have to totally pull it out and redo it. How can I pay the same price for a house with a counter when I've discovered it's essentially a house without a counter. What happened to disclosure etc? My real estate agent is saying, "Since the owner used this as an investment property and never lived in it, she's not responsible to disclose this counter damage because she was unaware of it."

I feel like I'm really getting screwed. ANY SUGGESTIONS? ADVICE? LEGAL AVENUES? HELP!!!

As for the disclosures, your agent is right, in certain states, only if the seller never lived there. Check with your states requirements, because those exemptions are changing. Many states are realizing that landlords actually know the condition of their rentals much better than the conditions of their own homes.

Otherwise, you do have the right to renegotiate the contract. Yes, it may reach the point that the seller will not budge, but cross that bridge when you get there. The second offer being there should not influence your decision one way or the other.

Your agent needs to get off his butt and work for you. The counter damage, since it was not evident before, means that the home is not substantially in the same shape as when you first viewed it. As such, you do have the right to renegotiate. If the seller refuses to budge, then you need to decide if you want to take the home as is or if you want a lower price...

Ask your agent if he is willing to put in writing that HE will pay to replace the counter top since its too much hastle for him to work in your best interest.

Worst case scenario, you may have to look for another home to purchase (through another agent).

Regardless of how this turns out, I would recommend talking to your state's Real Estate Agency and letting them know that your agent is/did not represent you properly.

You are getting screwed...Did you not look at the property first before you signed the contract. I don't know why they have to restart evrything because HONESTLY, Since I am familiar with the situation, it Doesn't have to restart. All they can do is change the purchase price since counter top is not there. You should not be afraid of them since they just might be scaring you. If i were you, I would back out since I wouldn't want to work with those kind of people. I really think that they wouldn't want to loose you because you are $$$ to their eyes.

has the owner been told about the problem? maybe if they agree to do something about it they can reduce some of the closing cost you will have to pay.

Maureen, the issue was that there was some stuff in the home when we walked through it. I looked at everything closely. There was a cutting board on the counter top. When I went back in recently, the place was empty but the cutting board was still there. I tried moving it and it has been glued in place to cover major damage to the counter top. So it was sort of a weird situation. I can't just "back out" because I have 10k already in the downpayment deposit account. Which means they could take it if I can't justify something legally for trying to get out of escrow.

Bubba, it's a major buyers market out here in California right now. She has already agreed to pay the maximum of 10k in closing costs. So there is no wiggle room at closing. To renegotiate the asking price at this point would be a BIG deal because everything is signed. I'm not particularly interested in adjusting the purchase price either because I'm only going to be paying interest only and living here as a tax thing and to hopefully resell with appreciation later. I'm not going to "pay down" the principle anyway, so that benefit would be minimal for me.

Find out how much it would cost to repair or replace the counter and request a credit for that amount.

without getting into the ethics of this, as I would need more information to make a judgement about that, you can try going to closing and politely but firmly insisting on compensation for the damage that was not revealed at the time your offer was accepted.

They will probably point out that you discovered the damage prior to the final walk through and should have said something at that point. Your reply can be that you did say something to your agent, but they discouraged you from making the complaint at that time.

This will put pressure on the agent and you may find that either the seller or the agent or both are willing to chip in to cover the cost of the new countertop.

Be prepared to pay a portion of the cost yourself, as its important to be reasonable with such a move, or people get mad and don't let their more pragmatic side stay in control.

I would guess you have a decent chance at getting 50 to 75% of the cost of the new countertop as a seller or agent concession at closing. Remember to be polite, but firm so they don't get emotional and walk away from the table.

have your realtor make a request for repair, it is a realtor form. That will make them obligated to do something or nothing. See how the owner reacts.