Skip to main content

Sellers provided upfront inspection

Hi all - my husband and I are interested in a very vintage 1960 ranch home in one of our cities best neighborhoods (in CA). The home is priced at $625k and is on .25 acres. Nearby homes are on .25 and .50 acres and estimated in the 600s and 700s per Zillow (I know, not a great indicator but not a lot nearby has sold recently). There was one recent sale a few blocks away (location only slightly less desirable) with a similarly sized house and lot, but completely updated for $585k.

The sellers of the home we are interested in have provided an upfront inspection because of the home's condition. They are willing to accept an offer at list price and open to negotiating some repairs, or they are open to an "as-is" deal at a lower price.

I am trying to assess whether the significant issues listed in the home inspection are worth dealing with for an incredible location and great neighborhood. We haven't made our offer yet. But based on the bids the sellers received and some of my research I've come up with the following:

Galvanized pipes - I'm thinking $8k–$15k?
Small roof leak (Roof is ~10–15 years old) - Bid to fix and certify: $2000.
Electrical panel (Zinsco) & wiring defects Bid to replace: $5,600.
Water heater end of life expectancy and not up to code - maybe $2k–$4k to replace?
Furnace: ~11 years old - needs some maintenance but operable.
Subterranean Termites near front of home (can't confirm if active) & some dry rot damage. Bids to resolve: $1,325 + ~$395.
A few small drain & plumbing leaks.
Some exposed wiring, missing GFCIs, ungrounded outlets.

Is this just too much work for a good location? Not sure if we can get sellers to budge on the price or repair/provide a credit that will be meaningful enough.

What do you all think?

submitted by /u/-msmint-
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1m5cu2z/sellers_provided_upfront_inspection/

Comments

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...

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...