Advice needed on results of my property inspection

[Dillan Gomez]

Hi All,

Under contract for my first ever investment property, and the inspection results just came back. I'm concerned with two things which I will paste directly from the report. I'm meeting with my agent today to discuss, but remember, this is my first time purchasing a home/investment so any insight would be appreciated.

My closing date is scheduled for 11/22 - this is coming up fast!

Are these worth repairing? Or should I back out? I only have $2k down non-refundable earnest money. The seller already has given me a good deal on the property due to her being forced to return to NYC for work post-covid (seller is paying $20K out of pocket after overpaying for the property 2 yrs ago, and sellers agent is taking a commission cut to make the deal work). So I won't be able to push the seller for repair concessions.

The main two areas of concern as I see them are:

1. Moisture Issues

2. Plumbing Issues

Below are the details directly from the inspection report: 

1. "The house band located at the sink on the right side of the house, to the left of the front entryway, and along the rear wall is discolored and decayed in a manner typical of water damage. The wood was soft when probed. This area and all the house band needs to be invasively inspected by a licensed general contractor to locate and repair the source of the moisture and any decayed wood

The crawl space had evidence of high moisture levels in the form of mold growth and some fungal activity. The areas probed still seemed solid, but be aware that some types of wood destroying fungal damage will only be detectable once the wood has properly dried out. A licensed general contractor or engineer should be consulted to evaluate the wood flooring structures as well as the crawl space ventilation in regards to the moisture and damage concerns. Any areas of damage should be located and repaired as needed to ensure the stability of the home. The home inspector was concerned with moisture issues and any evidence of decay, not the health implications of mold. If you have any further concerns about mold/fungus an industrial hygienist should be consulted.

Grading and drainage is either negative (slopes towards the foundation) or neutral adjacent to the left of the building, and moisture intrusion will remain a possibility. The soil or the hard surfaces should slope away from the building to a distance of at least six feet, to keep moisture away from the footings. In its current state, the grading will bring water towards the foundation which will lead to a wet crawl space, mold and fungal growth, and possible property damage. A grading contractor should be consulted for further evaluation and repair.

From the attic, some of the fascia boards and the ends of some of the roof sheathing were discolored in a manner consistent with water penetration. This often happens when gutters backup or water curls under the roof and gets to the fascia board instead of going into the gutter. This should be evaluated further by a roofing contractor or licensed general contractor to ensure there is no hidden damage and to make repairs as needed."

2. "One or more of the sink drain lines had leaks under them when tested. Leaks can lead to property damage and mold growth if not repaired. A licensed plumbing contractor should be consulted for repair. 

The drain line for the bathtub in the master bathroom was leaking into the crawlspace. It seems to be missing the wood flooring at the moment, but did get the insulation wet and there was a puddle of water under the pipe. This needs to be repaired before and further damage occurs. The wet insulation will also need to be replaced. A licensed plumbing contractor should be consulted to locate and repair the leak."

There are also other minor issues, but nothing that I foresee will cause serious livability issues. Things like GFCI outlets, vent fan issues, etc.

Any quick advice would be tremendously appreciated! Thanks :)