Skip to main content

Unrealistic repairs after inspection

I’ve recently sold a 1927, 2 story, 3 bedroom, 1 bathroom house in Ohio for 90k, taking off about 2k off the original asking price. We are covering closing cost along with doing a home warranty which they requested. We are also spending roughly $700 in exterior painting per negotiated.

Anyways, the couple used one of their father’s to do the home inspection. Apparently he found knob and tube wiring in the attic. They would like to put more installation in the attic, so they are asking us to eliminate the knob and tube in the attic. We got a quote and it came to $1850, which we were ok with. We negotiated that they would be responsible for any drywall damage. We disclosed that while some of the wiring was up to date downstairs such as the kitchen, other areas were not per the electrician.

Now they want a second quote about how much it would be to replace all the knob and tube in the house which just isn’t realistic. Plus I have to take time out of my schedule. The amount in escrow is only $500 which if the deal fell through would leave us at a loss for several more thousands but also holes in the wall throughout the house.

Our house has only been on the market for about 3 weeks prior to this offer and we not desperate to sell ASAP. When speaking to the electrician the first time around he even said it’s not realistic to eliminate all knob and tube in the house but to just to lessen the load. Any thoughts, advice or feedback would be appreciated.

submitted by /u/cloudy2t
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/davtnu/unrealistic_repairs_after_inspection/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more