Septic inspection failed after I’m in contract. How to handle ?

[Matthew Lenning]

I’m in contract on a lot that has 2 single family homes on it. One is mint and the other is a major fixer. Post inspection i had a septic outfit come inspect both tanks. The one connected to the mint property is failing and needs to be replaced immediately. The tank to the fixer is functioning but needs to be replaced at some point soon.

Estimated repair for mint house in 8-9k and 6k for fixer.

The question : what is the best way to handle this with the seller? Price adjustment, ask seller to do the repair? I’d like to avoid putting anymore cash into this deal.

[Ronald Allen Barney]

If your offer had a contingency you have an out for the failed inspection.

If your offer had no contingencies you have now learned the power of contingencies.

So long as your binder payment was less than the septic repair cost, let that be the cost of learning about contingencies.  If you had a buyer agent that let you do this, fire him.