Update on: Seller wants me to waive inspection

[Gurjot Grewal]

They countered by accepting my original offer with inspection. I received the two previous inspections done and one shows a lot more work that needs to be done than the other. My concerns are: 

-Some of the electrical isn't wired properly (double tapped)

-furnaces 50+y old 

-various locations of water supply line show signs of leaks at some point

-galvanized steel pipelines. Recommended replacement of water line to the house 

-water damage found in part of the ceiling with thermal imaging 

-windows lower quality old single panel, recommended budget for replacement in near future 

and quite a few more smaller issues. Is any of this enough for you to not buy the property? I'm thinking I get my contractor to walk the property and quote me repairs. Then if needed re negotiate the asking price and maybe try to turn this into a brrr. Cosmetically it looks nice was originally planning on it as a buy-and hold. If I sign the counter today we are under contract, thinking this over at the moment and unsure. 

[Nathan Gesner]

It all depends on the price.

I know some 50-year-old furnaces that still work great and maybe need to be serviced every 2-3 years.

Fixing a double-tap isn't hard or costly.

Galvanized pipes don't need to be replaced until they corrode so badly that they continually clog. If they are functional, they could last another 10-20 years.

People have always lived with single-pane windows and will continue to do so. They are less efficient, but you can use the plastic window insulation and it's hardly visible and works almost as well as a double-pane window.

Water damage was found with thermal imaging? Was it old damage or recent? What if the roof is 10 years old and the water damage is 11 years old?

I don't see anything on here that would prevent me from buying. I may negotiate a lower price, or I may accept it "as is" because I have the reserves available to handle anything that pops up.

Crunch the numbers and decide if this is for you or not.