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Updated over 5 years ago on . Most recent reply

User Stats

75
Posts
53
Votes
Michael Henry
  • Rental Property Investor
  • Palm Bay, FL
53
Votes |
75
Posts

10 day inspection period; seller refuses to make repairs

Michael Henry
  • Rental Property Investor
  • Palm Bay, FL
Posted

Would like some advise here I’m under contract for a quadraplex, during the inspection period I had a property inspector find a few issues, damage to the ceiling from a prior leak , safety issue with the stability of a staircase , and mold in the laundry area. These were the major issues in my opinion. A contractor quoted $3500 to fix these issues which may be a bit high , but the seller came back and said he would contribute $500 to repairs. Is this something I should just deal with and fix myself or back out?

Backing out would cost me $900 for the appraisal I already paid for plus $525 for the inspection.

On a side note the roof was replaced at a cost of $6500 2 days ago at the sellers expense.

Most Popular Reply

User Stats

1,384
Posts
3,263
Votes
Frank Wong
  • Real Estate Broker
  • Bay Area
3,263
Votes |
1,384
Posts
Frank Wong
  • Real Estate Broker
  • Bay Area
Replied

What's the cost of the deal?  $3,000 does not sound bad at all. How about split the difference $1750?  Besides all the costs you paid you to need to factor in your "time". How long did it take you to find this deal? Time working on it?  For me, I'm never canceling a deal over $3,000.

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