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Updated over 6 years ago on . Most recent reply

User Stats

19
Posts
4
Votes
Toi Perry
  • Rental Property Investor
  • Atlanta, GA
4
Votes |
19
Posts

Inspection results - Should I walk?

Toi Perry
  • Rental Property Investor
  • Atlanta, GA
Posted

I have just received my inspection back and just like I figured, the roof needs to be replaced and electrical work (multiple grounded conductors connected to a single terminal in circuit breaker in all 3 units) among several other things. I have 2 days until my due diligence period is up. I am currently asking to have due diligence extended another week so that a contractor can come in and give me estimates, which I will use to go down on my offer price. I also plan to ask the seller to pay for a home owners waranty for one year. If the seller does not allow me to extend due diligence should I walk? This is my first property and I’m worried that I may be putting too much money into a deal that may not even go through (I.e. inspection $690 + contractor $?). Any advice?

https://www.biggerpockets.com/forums/88/topics/631650-first-deal-under-contract?highlight_post=3757024&page=1#p3757024

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