I am ready to walk!!!

[Jacqueline Coombs]

I am new to this and have my first SFR college rental under contract. I am now seriously considering walking from this deal! Here is the situation: I made my offer June 2 and it took them 4 days to respond to my offer with a counter I then accepted. They still have not sent me their rent rolls/copy of lease for current tenants. I did receive a list of utility totals by the month with many months missing. I had an inspection and the report came back with some deferred maintenance issues which include no boots on the roof exhaust pipes that are causing some water damage. There is some shoddy electrical work and missing smoke detectors. My biggest concern is there are large gaps in the exhaust from furnace/water heater and a chimney in disrepair that may cause CO leakage! I asked for a 2k credit toward repairs a week and a half ago. Update today: The listing agent responded to the fix/credit request with "The city has signed off on all those things and the house when it was inspected, they've never raised any issues. Does that help your buyer's at all?" Whaaaat? Are these slumlords I'm dealing with? I can't believe this! Any reasonable person would have gone and fixed this stuff immediately! What if one of the students died from CO poisoning!! I am seriously considering walking away from this deal. If I do, I am definitely calling the city and also the college on this place! Any feedback on this? Thank you! Jackie Botham, GR, MI

[Justin Owens]

If you are uncomfortable and they are providing you unsatisfactory information - walk. 

The fact that they don't see it as a big deal is scary and the fact that they won't reduce the price due to this being deferred maintenance is also not cool. 

However dealing with unpleasantness is one way REI can create value/equity.