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Updated over 8 years ago, 07/24/2016

User Stats

36
Posts
1
Votes
Masroor Ahmed
  • Investor
  • Chicago, IL
1
Votes |
36
Posts

What is reasonable Deferred Maintenance?

Masroor Ahmed
  • Investor
  • Chicago, IL
Posted

Hey BP fam, 

So I'm in contract to close on a 7-unit bldg by the end of the first month..first deal, hopefully.  

Had the inspection done and there is clearly work that needs to be done in the $5-$10K range, incl some work around rotten wood, leaky pipes/faucets, holes in doors/walls, small amt of mold in bathroom, sump pump drain issues, bathroom fans routing into attic causing moisture issues...etc.  Many other small/trivial repairs.

For a $250K purchase price on a 7-unit in a B- class neighborhood, what is considered a reasonable deferred maintenance that I am expected to assume vs. the Seller to fix or credit?  Of course, Seller being incredibly hard and insisting that for an 'as-is' deal its no repairs at all.  I'm considering ending the deal on this matter but don't want my pride getting in the way of closing a good deal.

thoughts?

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