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Updated over 8 years ago,
HELP: Inspection found 3 Major Issues Not Sure What To Do
We just had an inspection done on the duplex we put an offer on, unfortunately there are some major concerns that came up in the inspection report, and I was wondering if anyone could give me any idea on how major the issue is, and how much it might cost me (I live in Cleveland which is a cheaper realty area in the country).
Perhaps one of the biggest issues we have is with the front porch and back porch. The front porch has very old and furry looking joists. The back patio has some bricks missing from the corner upholding the structure together. Also the front patio doesn't seem to be supported well. My opinion is that if either porch structure collapsed, it would wreck the house and hurt the foundation even more.
The second biggest issue we have is half the walls and ceilings show sign of sagging because the plaster has come undone, this seems to be a pretty expensive fix, considering it's in both kitchens, and most bedrooms in both units. What would you budget to correct this? The house has never been updated since the 70's.
The last issue we have is there seems to have been a leak in a finished room in a corner of the basement, next to a wall that seems to be a little out of plumb due to a small 11 inch diameter tree trunk growing on the side of the house. I would cut the tree down and that would be the end of it, but if the leak continues, we would possibly have to deal with the flooring which looks like Asbestos tiles, according to the inspector, which I know myself would be expensive to remediate.
We paid 135k for this duplex, there are other issues, mostly which I am willing to fix or the city point inspection will require the seller to fix, so I already know going into this property we have to update some items. Comps in the area show duplexes like this going for 130k all the way up to 155k.
I am not sure how much to ask for in seller concessions to fix these major 3 problems that I don't want sneaking up on us as we fix the other stuff that came up in the inspection.
Any advice for the repairs, costs, what I should pay for the place etc.?
BiggerPockets has been the biggest resource on the web for real estate, I don't hesitate to always recommend the site to any investor or professional. I am hoping you guys will come through for me!
Best Regards,