Best alternative way to close on this deal

[Rhea Wu]

Good Morning BP members.  Would it be difficult to ask what your opinions are on this situation.  The seller and I (buyer) agreed to purchase his single family home for $109,000.  When the home inspection was done, there were big ticket items that needed work: needs new HVAC, new roof, excavate eroded and leaking sewer made of cast iron, install new sump pump.  The seller informed me that he can't repair/replace the any of these.  The seller owes $106,300 on the house.  He said he can't lower down his asking price for his home since his outstanding mortgage is $106,300. My initial plan was to buy the house with bank financing since I have been approved by the bank to purchase his house. How do I proceed when he is fixed on his price and there are big ticket items that need work?  Thank you.

[Kevin Phu]

I think it may be best to walk away. The price seems pretty locked in and the potential repairs costs could be high. I personally don't see any room for negotiation.