House/Agent being difficult

[David Klein]

I recently look at a SFH that was listed for 99K in an area that houses would sell for around 150ish, due to location this one is prob closer being valued at 130ish. I was trying to buy and hold it and offered 75k, figuring a rehab budget of around 25K if I added a duct work and new HVAC system (heater/air conditioner), some normal drywall laminating, floor refinishing, and exterior rehab. The owner agreed but stated the proper had mold issues and was quoted it to cost 6k to fix. I came back at offering to split it and they stated they never got documentation for the oil tank removal and would have to pay for that and would not pay for any portion of the mold Remediation. I asked for the name of the company for the mold quote and a copy of the CO docs (due to the agent stating it failed for two minor items); however after repeated email, calls and texts still have not heard back about any of the requested. The proper prob could rent for around 1600 a month which after Reno would be almost a 2%, should I just offer the 75k and deal with the mold myself (just worries the 6K number may not be accurate)? Or is the lack of communication a sign to walk away? Look forward to some advice, thank you.

[Stephen Kappre]

A few things ... is the oil tank in the ground? That can certainly change the scenario. As far as mold, it depends on where it's located, how bad, etc. For instance often I go through properties and the basement has a little mold. If the basement was poorly finished, i.e., and you plan to rip it out anyway, not a bid deal. I've seen greatly varying costs to remediate mold so it can be hard to say without seeing it. As far as the failed CO, that should be an easy reply to you and a quick e-mail of the copy of the CO. If it's just "two minor items" then the agent should be happy to give it to you.