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Updated over 8 years ago,

User Stats

185
Posts
57
Votes
Katrina P.
  • Investor
  • Randallstown, MD
57
Votes |
185
Posts

When do you go back and ask for reduction in price after inspect?

Katrina P.
  • Investor
  • Randallstown, MD
Posted

Hey BP!

So, I just received an inspection report.  It's for a small multifamily.  The numbers work fine... currently at 2.79% rent to price ratio...not wonderful, but meets my criteria.  So my question is... got the report, and I'm not too happy with the results.  There are a few things, but my biggest problem is with the roof.  The current owner just put about $4k into repairing/replacing parts of the roof (I have invoice and receipts in hand), but the inspector noted this about it after taking pics, showing other damage:  "Damage, deterioration, staining, moss type growth, improper installation, and repaired areas were found at the roof coverings. A qualified contractor should repair/replace as needed."  So my question is would you guys typically go back and ask the seller to replace the rest of the roof, or ask for a concession so you can do it once you close?  Just curious how you all handle this type of thing?

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