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Updated about 10 hours ago on . Most recent reply
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Negotiating price for Repairs
Hello,
I’m trying my first house hack on a duplex. I’m under contract at market price. However, both units have electrical panels that won’t meet code and need to be replaced. Both have 13 year old HVACS. The roof needs replacing, and both require floor and appliance updating to get market rent.
My question is, does anyone have a negotiation equation or strategy to get the price down, considering these costly repairs. I don’t want to offend or halt negotiations by asking for 100% of repair costs (obviously) and I know there are a lot of variables….just looking for a general starting point.
For example, since we are at market value, should I ask for the seller to come down 50% of what the necessary repairs will cost; electrical, HVAC, roof?
Thank you for your time and advice,
Chris