Oklahoma  |  Insurance Law

Legal Question

Asked on: 9/10/13, 9:14 am

My husband and I had a house for sale "as is" and our realtor found a buyer.The house had been rented out and appeared to be in good condition, but needed some minor repairs. (Painting of wood trim and replacing some screens and cleaning carpets. A contract was signed on June 20, 2013. Then our realtor wanted us to have the roof and other outbuildings assessed for hail damage by our insurance company. There was hail damage to the roof, guttering, screens, and two outbuildings and some rot and peeling paint on the wooden trim. The new owners had already taken partial possession on July 3rd to do some of the repairs in order to qualify for their FHA rural development financing. The insurance claim was not filed till around the 20th of July. After taking full possession on Aug. 1st, the new owners had the septic system checked and they found the tank needs a repair and it was recommended to extend the laterals. They also discovered the electric stove was unusable due to arcing when plugged in. Are we legally bound to turn over any or all of the check to the new owners or to pay for these repairs that we were not aware were needed? The insurance company did not specify if the roof MUST be replaced, or we return the money, or what. Do we have to do repairs or return the money, and since they have already done the painting and replaced the screens themselves, and since they bought the property "as is", can we keep that portion? I don't think we should just hand over the check to them for all of it because of the "as is " clause in the contract. We finally closed on Sept.5th. and still don't have the check for repairs, but want to know what to do when it comes. Our realtor thinks we should give them the full amount and we agreed to part of it for the roof repair, but not money for repairs they did themselves, or for replacing a current storage outbuilding, and roof repairs on another outbuilding. PLEASE HELP!

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