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Inspection Negotiations

Hi all,

I need some advice on negotiating issues that became apparent during home inspection.

House originally listed for $365,000 dropped to $355,000. Our offer of $350,000 with $6,000 towards closing costs was accepted. We are now in the inspection period. We had a general inspection and sewer scope done. The house was built in 1915, but overall has been well taken care for and is in good condition. There are lots of minor issues that we are willing to look past (cracked windows, wood rot, leaks etc), but a few major ones came up after the inspection.

  1. Recommended roof to be replaced immediately.
  2. Sewer line showed holes in pipes and decay, recommended replacing the 44' between house and city lines.
  3. Furnace is 24 years old--functioning, but recommended replacing within next couple of years and having serviced annually.
  4. Chimney needs some structural work to reinforce it. It's not currently an issue, but will become one if not addressed in the next couple of years.

I am receiving bids on the sewer and roof tomorrow and then will be submitting our requests. For now, estimating 15-20K to fix sewer and roof.

During negotiations, the seller's realtor had said that the sellers would likely not make many home repairs during inspection period due to already dropping the purchase so far. We understand that an old house would come with some issues, but weren't expecting so many big issues to come up that would need to be addressed almost immediately. I am okay taking care of the furnace and chimney myself (estimating 6-15K to fix those, but doesn't need to be done this year). Are we fair to request a credit for the repair of the sewer and roof?

With Covid, it's hard to say how the market is right now. Normally, this is a sellers market but this house has been listed for longer than average and has already had one price decrease. The sellers have a contract on a new house, and we are under contract to sell our current house--both contingent on this transaction.

Thanks for any advice!

submitted by /u/cjillian89
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/gal9gl/inspection_negotiations/
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