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Updated over 1 year ago on . Most recent reply

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116
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Tom Server
26
Votes |
116
Posts

Making a Counteroffer After a Home Inspection

Tom Server
Posted

I'm in the middle of purchasing a older property. Its a duplex with a detached 3 car garage with an apartment on top.. so 3 doors... 

The home is 102 years old. Seller was selling it for 290k, He settled for 250k.

I just had my home inspection completed, The 2 inspectors said the home wasn't in that bad of shape for what it is. "its a 100 year home, rental property, its going to have some wear"  

Im trying to figure out how much of a seller credit or have repairs done. Some major items do need to be repaired so I'm estimating the costs.

Major items

2 Roofs- $20,000

Boiler -$15,000

Termite damage- treatment $3500

Plumbing leaks- $2000 ?

wrong door/fire proof door- $500

oil tank rusting/ inspect and paint -  ?

rotted wood thru out the exterior -?

Whats a realistic credit should I ask for ?

Most Popular Reply

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264
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Ke Nan Wang
  • Developer
  • St. Augustine, FL
334
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264
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Ke Nan Wang
  • Developer
  • St. Augustine, FL
Replied

The credit you should ask for would be the one that's not apparent when you made the offer. If you made a offer on a property that clearly shows a roof that needs to be replaced, exterior siding needs to be repaired, a boiler or the AC that's at the end of the life age, then your offer should have factored in those elements. If you made an offer on a property that appears to have a very beautiful nice new roof, but during the inspection, the inspector discovered a few leaky spots or an unpermitted work, then it's more reasonable to heavily negotiate on those items. 

This is doing business at the elite level. You negotiate in good faith with class.  

But if you don't mind playing at the amature level and just want to squeeze every penny out of the seller and don't mind lose the deal, then you can sure ask everything you listed and the seller can either counter or worst case decline your request and walk away. 

  • Ke Nan Wang
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