We recently sold a house to a young couple ver unfamiliar with the area. They didn't know anyone and the husband works very long hours. The wife decided to take some perceived "plumbing fix its" into her own hands rather than call us....the only people she knew in the area. I had told her over and over again during our home search, if she ever had any questions about contractors to hire...call us. She assured me her husband was very handy and that was almost never necessary.
Their second day in the home she had called a plumber notorious for over charging and replacing things that may not be brand new...but still full functional. She called AFTER authorizing $3000 in replacement of fully functional equipment. One of the things that the plumber told her...was the copper was discolored and that of course meant there was a problem. The discoloration was at the points where the plumbing had been soldered....
Tears rolled, voices cracked....they called and said they had spoken with "people who know real estate" and they told them that they give the house back....they had 3 days after closing to do that. I explained to the woeful buyers that that is called "the right of recission" and does apply to some purchases and loans in Wisconsin...but not to single family homes.
They left a message on the lender's voice mail (she just called us) to say they would meet her at the bank Sunday morning to recind the loan........
If calmer heads prevail today, we will give them the areas that we believe the seller may have answered untruthfully on the condition report...we will give them the contact information for the listing agent and they can pursue legal action.
