Post inspection..... - Michael McVinney
Contact Michael McVinney, a NY licensed Real Estate Broker. Michael McVinney is also licensed in PA.
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Post inspection…..

Is it common to back out of a contract after inspection? Are you supposed to counter the cost of repair and if they don't accept it, walk away?

I'm pretty lenient on minor stuff, I can install GFI outlets and do minor repairs myself but there are a handful of issues I'm not really comfortable with taking on as my own problems that can't be fully assessed without tearing things up, which I can't:

1) Half the electrical in the house apparently doesn't work, including the stove, microwave, all wall heaters and probably other stuff, inspection didn't mention washer/dryer, but every other important thing didn't work so….probably that too.

2) None of the plumbing in the house has vent pipes…I honestly don't know if that's a big issue, but if it needs them, it seems invasive to add. Various other plumbing issues/water damage including using a garden hose for the water main line to the house…….what..the..fu…..

3) Uppper deck is the flat roofing that is a mess and major water damage (rot) below. Needs to be ripped up and replaced…didn't notice water damage below but inspector found some and said it was in bad shape. Not even sure how to estimate costs because I can't rip it up beforehand to assess it….

4) Noted floor rot under sinks and what not where it was visible, I'm inclined to think the rest is equally as bad out of view.

5) Needs lots of flashing work on the (metal) roof and windows (it doesn't have any for a lot of stuff, and inspector found water damage/rot around it).

6) Needs some structural deck roof repairs (needs a support beam at the ridge of the roof, and vertical support beam. I imagine the whole thing needs to be replaced

It's also in an HOA where any home repair has to go through a review process with the HOA, it's going to be an extra pain to do.

This stuff is in addition to $55k in foundation repairs we've already negotiated in the price which the owner is going to pay $40k of. But once they're in there replacing it, it could be much higher.

We were already apprehensive about the negotiated price with the $55k repair which we expect could cost $75k, but now it's starting to look like the whole house just needs to be replaced compared to the cost of gutting it to repair it. The house was built in the 70's and hasn't had any updates since, and a lot of stuff wasn't built right to begin with.

The house looked great but just going 1 layer deep with the inspection is presenting a different picture.

submitted by /u/mixreality
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