Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 1 year ago,

User Stats

22
Posts
6
Votes

Seller issues and getting concessions on first property

Andrew Rellinger
Posted

Hi, I am in the process of buying my first house ever that I am going to live in 1 year then rent out. Ive been under contract since August (going on 4 months now), the seller had to reapir the hot water tank and remediate the mold associated with the leaking hot water tank. Apparently they have been getting stood up by contractors which is why it took so long to get the ball moving. Today is the last day of the review period before I have to make the call to proceed with the deal or back out. Yesterday I found out that the seller cannot get in contact with the contractor who installed the hot water tank to see the paperwork and verify the permit was pulled. Also there is still mold in the bathroom (including the subfloor) which I am planning on ripping down to the studs anyways and remodleing. I just wanted to see what the contractor they hired had done for mold remediation since the there is still quite a bit of mold. From the city inspection the house needs $10k more work than I had intended, just to get the C of O.  I am wondering what I could possibly squeeze out of this deal in terms of concessions to reduce the amount of money from my own pocket to do the repairs?  4 months seems like a long time to be under CO tract and to not have all the repairs done correctly to the city's code.

Additional questions:

1) besides the 6% sellers concession, is there any more concessions I could ask to get out of the deal?

2) Is there anyway to see if a permit was pulled for the HWT? Are there a concessions I could ask for because as far as I know (my assumptions) their contractor did not pull a permit for the hot water tank, which the city requires them to? 

Loading replies...