So it is a good contract, tested extensively, and most people in the industry including your title company is familiar with it. 

i was extremely cautious because i wanted to make sure i had my systems in place, all the while the foundation for my systems were in place ---A friend who is a real estate agent with property management experience; friend who is an investor with extensive rehab experience.

Explain to them that you plan extensive renovations and although it will be disruptive it’ll benefit the property in the long run.

You could also do an extension while they work on getting the system back up. 

Your inspector and contractor should be able to tell you how extensive it is and cost to fix.You have to ask yourself if this is still a good enough deal, considering the extent and cost of the repairs, to move forward.Good luck.

From the pictures on MLS, there is extensive work that needs to be done.

It never ceases to amaze me how many fast closings require extensions which isn't fair to the seller, and I've seen numerous sellers deny those extensions.

If we are not okay with that, than just cancel.My agent then tried to ask for an inspection extension - to get the HOA in there, as the inspection period ends Tuesday.

I just came across this, I have extensive Tidelands experience,  there is a Channel 7 WABC-TV feature on my website...Glad to assist if I can, here and on other matters. 

Its extensive.