All Forum Posts by: Bryan Stocklas

@Uchenna A. I told them because I don’t want to be held liable if a tenant overloads a breaker and starts a fire. The panel that’s currently in is wired wrong to begin with.

@Raymond J. Rodrigues that’s why I’m baffled that they are getting lawyers involved and telling his realtor that they are going to sue.

@Matthew Olszak ok yea the letter just says

“Neither of the cited references constitutes a qualifying deficiency which would be a legitimate basis for termination of contract”

@Colleen F. It’s in Illinois

@Scott M. It’s only $500 but I’m more worried about what else they can sue me for.

@Colleen F. Inspection was for information but it’s contingent upon everything being in good condition however I had no idea it had a 60amp panel until inspection was done. So my agent sent in a contract release after we couldn’t come to an agreement and than the seller sent me a letter threatening to sue.

@Colleen F. Yes I had an inspection contingency however if it is still working they are saying that it doesn’t give me the right to terminate. I told the seller to give me credit or have it fixed by a licensed electrician and he refused saying he will do it himself if I paid him $600. But he’s not an electrician lol.

@Scott M. Yes it’s for the earnest money as well as any marketing expenses. The house is in Champaign/Urbana Illinois. And my agent sent me a picture of a letter the lawyer is sending me saying that the panel is working so it doesn’t count as a qualifying deficiency.

@Kathy Johnson I wanted to but he said he won’t have an electrician do it that he would put it in himself which I did not want

Hi guys, I recently went to buy a rental property and after inspections were done the house only had a 60amp panel which means I can not get homeowners insurance for it. Since I can’t get homeowners insurance I can’t get a loan for the property. In the contract it says it is contingent upon the buyer obtaining a mortgage, however the seller has already gotten his lawyer involved and has sent a letter to sue me. Has anyone had any similar issues with this? I am obviously going to get a lawyer but just curious on if anyone has dealt with this before. Thanks everyone