So, wondering if there's any way to swing it, or if I should just pass it up. Got an offer on my house, so look for a new one. House now at 240k and inspection report shows a quote for 41k to fix damages. As is, no further repairs done by seller. At 240 I can afford it, add on another 41k I can not. What do u think would be a reasonable offer to them, considering those damages needed repaired?
House I'd been watching dropped price 25k after inspection found structural damage
byu/frankenboobehs inRealEstate
Posted by frankenboobehs
6 Comments
Don’t get a house with structural damage.
If you decide to further pursue it, get your own inspection to give an estimate.
In the first year of ownership, that will not be the only money that will need to go into fixing up the house. There are always incidental repairs.
Don’t bother. Structural damage is a very major issue. Chances are the real cost to fix it will be a lot higher than 41k and possibly not even fix the issue
I think you’ll have trouble getting a mortgage and insurance unless they fix it first.
Offer $199k firm. Get your own foundation company to bid it. If it’s more that $41k, ask for that off the price.
Pass
You could end up paying more than $25K on structural damage. This will be in addition to the less obvious issues. Bought a house one year ago. No issues with plumbing. Just paid $4500 for a new washer drain line. And we have less urgent issues with sewer line that needs to be redone. That’s $300 a foot to dig. We will spend $12-15K on that. 1968 build.