TL;DR: Inspection found major structural issues, safety hazards, and undisclosed easement. Realtor says negotiate $5-7K, I think we need $50K+ reduction. Who’s right? Fairly hot PNW market.
Key findings: Garage roof has major sagging/cracked 2x4s requiring immediate structural support per structural engineer. 320-gallon propane tank fell off foundation and is leaning hard (needs emptying/new pad), non-functional sump pump in basement with water history owner states water entered in 06’ but multiple rooms have partial carpet removed and water signs on walls, unsafe stairs modified for chairlift, they were shortened to accommodate a wheelchair but are very steep. Plus we discovered a city sewer easement in the backyard that restricts structures - seller never disclosed this and the fence is literally built over a manhole cover.
House listed at $292/sq ft vs comparable move-in ready homes at ~$380s, but our realtor thinks these are mostly “priced in” cosmetic issues worth only minor negotiation. I’m estimating $35K-50k in immediate safety/structural repairs before we can even think about cosmetic updates. Given the structural problems, safety hazards, and easement restrictions, what kind of price reduction would you expect? Are these the type of defects that warrant significant negotiation or is my realtor right that it’s already somewhat reflected in the asking price?
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/1mb9kc9/under_contract_on_700k_house_major_inspection/
Comments
Post a Comment