SFR Flip inspection nightmare!

[John Duncan]

$14k Gone.

Right when we thought everything was going smoothly and we were in the process of closing, an inspection report came back with findings of Moss, Black Mold, some Lichen, and gleocapsamagma on the roof. I work for a couple great real estate investors in New Jersey, as a gopher, learning.

The potential buyers came back with a counter offer of $18,000 less than previously offered due to the inspection report of the roof. After some back and forth, at the end of the day, my boss and the buyer settled on $14,000 to cover the cost of a “New Roof”.

Has this ever happened to anyone?