Skip to main content

Did we ask for realistic post-inspection fixes?

(First time buyers here!) So we are under contract for a house and are 5k under asking ($390k home). We asked for under asking because the house was priced a bit high compared to comps given its age and visible condition. We had an inspection that found a bunch of little stuff and some big stuff. All the little stuff we are planning on doing ourselves like fixing the handrail in stairs, sealing driveway cracks, fixing sewer clean out, installing more smoke detectors, etc.

Here are the things we asked the seller for:
- roof is 20 years old and has hail damage (notably, the seller is older and estimated the roof was 7-8 years old so that’s what we were assuming going into the contract), inspection guy recommended we have the seller replace the roof with their insurance so we asked for that since insuring it in its current state is unlikely.

-Radon levels came back high so we are asking they install a radon mitigation system. I think the inspector estimated around $1k

-we had a fireplace inspection (we used the seller’s fireplace service company) and the inspection found cracks and significant damage that makes it unusable in its current state. They recommended installing a gas insert as that would be the cheapest fix so we had them give us a quote that came to around $6k so we are asking them for a credit for that amount so we can put in one we like not just the cheapest.

- all the carpets are in bad condition and need to be replaced. Are they still functional? Technically yes but any reasonable person would want them fixed (major stains, wrinkles, pulling away from edges). This may be where we are being the most unreasonable though as we had a carpet company give us a quote to fix the carpets which would come to about $7k and we asked again for a credit so we could pick a carpet we like.

For context, the house had zero other offers and was on the market for 3 weeks before we put in our offer. Our area is leaning a bit towards a buyers market at the moment. Also the sellers disclosure was not accurate about the age of things and they did not know the fireplace had issues and thought the roof was much younger.

I know a lot of this is just waiting to see what they say, but what do you think of our asks? Is this reasonable? We love this house and are willing to negotiate. I just hope our asks won’t make them upset.

submitted by /u/Pooraf666
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1t0y3v5/did_we_ask_for_realistic_postinspection_fixes/

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/

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...