The seller is requesting to see foundation estimate

[William Kelly]

During our option period we are buying a duplex as is. We originally offered 205k but after foundation, plumbing, electrical and mold found our new asking price is 172k. The seller is now requesting to see the estimates from our contractors and foundation specialist. 

Should we give them these estimates or no? (The estimates aren’t super expensive and come out to around 15k so I also don’t want the seller to know how much profit we are going to make on this duplex once we turn around and rent it.)

[Sergey A. Petrov]

Nobody is under any obligation to give anybody any contractor estimates. The way you hand the negotiation is a different story. Did you tell the seller we offered $205k but the estimates I have in front of me bring it to $172k? Did they catch you in a lie because your estimates are only $15k or are there other legitimate hard third party costs that bring it to $172k? Or maybe you said we did our due diligence, there are several hard costs, and many unknowns. We are still game and want to close but our number is more like $172k now to make sure we are able to navigate through all the now knowns and unknowns which will take longer than anticipated. We still have a deal and are willing to take on the risks that you won’t have to.