Questions were facing:
- Property sold AS IS. Currently put in offer of XXX. Inspection was yesterday and more things have either shown up as not working when they said they were and the electrical was tied in to both knob and tube and a new panel so both boxes are having issues.
Can we ask them to take a lower offer now on the pretense we may walk away totally?
- Purchasing for family member. (Son).
No financing. Insurance wanted to label him as a renter if it was titled under us (mom and dad).
If we add him to the title does that lower insurance rates? Our current insurance didn’t show that it would but I haven’t shopped for insurance in 25yrs. Anyone have insight on something like that?
- Multiple little things showed up- window ac not working, 2 broken windows, propane stove top one burner not working, fill valve needed in bathroom sink, HVAC in basement making noise possible bearings or bad motor but not all the time.
Are those things considered as-is and do we have any wiggle room? We are in a 14day hold with a small deposit down and can get it back and walk away.
We’ve only bought one other home and it was 5yrs old at that time. Things have greatly changed since then.
Questions about 100+ yr old house
byu/Seenmeb4today inRealEstate
Posted by Seenmeb4today
3 Comments
for that electrical situation with knob and tube mixed with new panel you definitely have room to negotiate – that’s not just cosmetic stuff that’s safety issue and expensive fix
This is a disaster on so many levels. It’s hard to understand why you’re even doing this and it sounds like you’re doing it without representation. What could possibly go wrong?
You can certainly attempt to negotiate a credit for needed repairs. Don’t let them fix things, they’ll do a shitty job and lie about it, as they seem to have on many items here.
I’d be quite wary, as they have proven themselves to be dishonest in general. However, they legally are required to disclose any material defects you’ve uncovered to the next buyer, so that leverage may help you get dome concessions here.