Termites & Water Leaks - Seller Credit vs Fix? 2 days to decide!

[Charlie Anne]

I'm under contract on a home. There's some active termites and a water leak in the water main in the front yard. I'm very worried these repairs will cost far more than expected, I am considering backing out of the deal.

What do you recommend as the best approach for these issues? I'm worried if they credit me some money towards closing the termite or water damage will be far more extensive than expected and I'm out thousands of dollars.

I'm looking for contractual advice or just overall strategy on how to protect myself.

The house is a fixer upper with a long list of repairs. Perhaps I can use some of the other repairs to inflate the credit amount, assuming they won't provide the full credit asked for. The other issue is that the closing costs are $5k and I think this warrants more than $5k off.