Skip to main content

Buyer's Request for Repairs, is this reasonable?

Hey guys, love this subreddit and all the informative posts! I was hoping to get some advice about request for repairs.

My wife and I are in escrow right now. We just finished doing inspections this last week and gathered our reports and prioritized which items made the most sense to add to the list. Spent about $800 on home, foundation, mainline and drainage inspections. It was pricey but I can't imagine not doing the due diligence before making the biggest investment of our lives. It seemed to have paid off because we found a few items that easily surpassed the $800 spent.

The biggest items we found were:

  1. The foundation had a slightly large crack that was estimated to be $3,000~ to repair.
  2. Breaker panel was an older model that only supported 20amps, the new HVAC that was added requires 30amps. ($2000~ repair)
  3. Drainage around the home is affecting the foundation. It is moist and it seems that waterproofing is required. ($30,000 estimate....)

Given that the home is a fixer-upper and the seller did not provide any disclosures prior, my realtor believes we have a good case for requesting the first two items.

For the third item, I am a bit worried about the home's value in the future. We're obviously not going to get the full $30,000 because that is just ridiculous but some credit back is definitely due. All 3 inspections referred to the drainage being a problem down the road, but it seems like this can be a rather gray area for the seller to take care of.

I'm a bit anxious to see how it plays out! As much as we like the house, I really hate the idea of a drainage issue that can affect the foundation of a home. And I guess I've been pondering, at what point should we walk away?

submitted by /u/branxs2
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/gucsy7/buyers_request_for_repairs_is_this_reasonable/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/