Discount me the sales price please

[Olga Daisel]

Hey,

I a house under contract that has structural issue, a pretty serious one. The roof rafters are falling due to water damage. The conventional mortgage lender sent an appraiser who realized that there is an issue. The house is under contract for 700k. I might came up with cash, but it has to be discounted. How much would you try to negotiate down on the house if closed all cash?

[Russell Brazil]

I mean it sounds like the lender isn't going to loan on it unless it's repaired.

So the answer here is seller repairs it, or financing is denied.

[Olga Daisel]

@Russell Brazil

The seller will not be able to repair. So I am trying to understand how to negotiate cash closing.

[V.G Jason]

You pay cash and assume risk, you get a HML and fix it and hopefully can not lose your, or conventional denies loan unless seller fixes.

[Joe Villeneuve]

Ask a contractor.  Why would you want to buy a house with structural repairs needed anyway?  I'd be willing to bet the cost of repairs will be a lot higher than just the roof.  There's a domino effect that will impact costs in MANY other areas that you don't see right now, but they'll be there.