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Updated about 6 years ago on . Most recent reply

User Stats

8
Posts
2
Votes
Danren Jones
  • Rental Property Investor
  • Philadelphia, PA
2
Votes |
8
Posts

Negotiating after home inspection

Danren Jones
  • Rental Property Investor
  • Philadelphia, PA
Posted

Hey BP family, I have my first triplex under contract and we’re going to closing soon. Yesterday I went through the home inspection and a few things were found. There is a sub roof for a kitchen that needs to be replaced, all three electrical panels need to be replaced, and there are a few cast iron pipes in the wall that needs to be replaced. Now the building is cash flowing well and it’s fully occupied. Before the inspection we agreed on full purchase price $215k with a 6% sellers assist. Should I ask them for a lower purchase price consistent with repair cost, or is there a scenario in which I could receive a check after closing for a portion of the repair cost? Thanks guys

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