I am currently in the process of purchasing a duplex. The property was on the market for approximately two months, and it appears to be overpriced given the necessary repairs and work it requires.
The duplex includes two basement units. One side of the duplex needs a full renovation and is in a very dirty and bad condition due to dirty tenants. We submitted a lower offer, $29k below the asking price, and proceeded with the inspection.
The inspection has some major repairs. Here is the inspection report summary:
Electrical panel:
- NEUTRAL "DOUBLE TAPPING"
The major issue with a double tapped is the natural expansion and contraction of the copper wire as it heats and cools. When current flows through a wire, it heats and expands. When current flow stops the wire cools and contracts. Double tapped neutrals can expand and contract enough to the point where the connection becomes loose. The loose connection could overheat and cause a fire.
- LARGE GUAGE WIRES CUT DOWN
At the time of inspection the wires for the sub panel in 111 were cut to fit into a breaker. This should be fixed.
- NEUTRAL "DOUBLE TAPPING": The major issue with a double tapped is the natural expansion and contraction of the copper wire as it heats and cools. When current flows through a wire, it heats and expands. When current flow stops the wire cools and contracts. Double tapped neutrals can expand and contract enough to the point where the connection becomes loose. The loose connection could overheat and cause a fire.
- NO GFCI PROTECTION INSTALLED
No GFCI protection present in all wet locations.
- Furnace 1 : EQUIPMENT SHORT CYCLING
At the time of inspection the furnace would not stay on. The unit would fire, and then shut off. This could be an issue with the flame sensor. The temperature in the house stay at 20.5 for my time there, however it ran for a few seconds at a time.
Recommend an HVAC tech evaluate the remedy before damage is done.
- Furnace 2: FURNACE COVER NOT INSTALLED AT TIME OF INSPECTION
At the time of inspection the furnace cover was off. Due to the InterNACHI standards of practice I was not able to test properly.
Recommend an HVAC technician evaluate and remedy.
- Roof
- MOSS ON ROOFING MATERIALS
- ROOF VENT DAMAGED
- DAMAGED (GENERAL)
- Roof coverings showed moderate damage. Appeared the North side of the structure was hammered by hail at some point.
I gathered quotes for all the repairs except for the electrical work. The quotes I received for the repairs amount to about $100k. If I decide to purchase this house, how should I navigate the situation? I do not want to get a money pit, need cash to put for repairs
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source https://www.reddit.com/r/RealEstate/comments/193295r/home_inspection_has_repairs/
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