I recently won a bid on a duplex I plan to do owner occupied in. Following the inspection we found a number of small to medium items that will need to be addressed (older boiler, sewer pipe needs replacing, chimney needs some work, termites, etc) and a larger item that has brought me the most concern. This larger item is the existence of knob and tube wiring. I brought in an electrician who gave me a base bid of $8.9k to deal with everything in the inspection and replace knob and tube in the basement, with an ad alt bid of $14k to do everything and rewire the entire house (also just realized today that this bid did not include any repair from damage to floors or walls that will be done).
With that info we went and asked for $16k off the price to cover most of the repairs. The original bid was $275k. They ended up saying they had a cash offer at $260k so they would let me match this. I took that offer and now have the house at $260k but I need to get all repairs done. The inspection period is officially over. I've been thinking and I've now realized I think I should have held out for more. When I ran the numbers I was confident in going up to $280 and still have a solid deal. So now I am becoming unsure about if $20k will be enough to rewire, deal with termites, fix any plumbing that needs fixing, and get the boilers serviced. There are several other little things I can do myself but it'll add up as I do things like buy new fixtures, bathroom fans, cabinet handles, etc. Plus it sounds like I may be unable to rent it out for a month or two while all this gets scheduled and dealt with meaning I'm losing out on potential thousands in rent while I'm paying the full mortgage (not a problem but I'd obviously prefer not to).
Now that inspection period is over and I did have a counter offer accepted would it be stupid to go back and ask for more money off? Or to have them cover my closing costs? Is it too late to even do so? I just don't want to end up getting a bad deal here due to this electric issue. If it wasn't for the knob and tube I wouldn't even hesitate on this at all.