10 day contingency period almost over. How do we proceed?

Hi everyone. Our realtor isn’t being the most responsive so I’m trying to find some answers. In a contract we entered into, we are supposed to have 10 days to send inspection report to sellers along with a removal addendum or purchase agreement release. It’s been 8 days since we signed and we only received the report today. The inspection was yesterday. There were a bunch of things in there that we want a general contractor to see and get us a quote to see if we want to continue with the purchase or not. These are just very few of all the things found: -cracks in foundation, brick and mortar, around a window -floor sloping in the kitchen and bathroom next to it -hvac and water heater not working -leak in drain line beneath half bath -serious corrosion on multiple items (vents, electrical panel, etc)

What worries me the most is the foundation stuff. It seems very intimidating to me. There’s already dozens of small things we need to address.

Should we get a contractor first or do we just send the inspection report to the sellers? Do we default on payment if we miss deadline? Does all of these seem normal and fixable without spending tens of thousands of dollars? Should we just move on to a different house? How much should we be able to negotiate the price down? Any experiences with negotiating prices? What should we request sellers to fix?

This is like our 5/6th offer within two months and the only one that got through.

Some other things found in report: https://ibb.co/RBSRtBc https://ibb.co/sgGSPyP https://ibb.co/GJvNh2z https://ibb.co/hf3P0CN https://ibb.co/zPTZ1K0

submitted by /u/Z_Laurent
[link] [comments]

Hi everyone. Our realtor isn’t being the most responsive so I’m trying to find some answers. In a contract we entered into, we are supposed to have 10 days to send inspection report to sellers along with a removal addendum or purchase agreement release. It’s been 8 days since we signed and we only received the report today. The inspection was yesterday. There were a bunch of things in there that we want a general contractor to see and get us a quote to see if we want to continue with the purchase or not. These are just very few of all the things found: -cracks in foundation, brick and mortar, around a window -floor sloping in the kitchen and bathroom next to it -hvac and water heater not working -leak in drain line beneath half bath -serious corrosion on multiple items (vents, electrical panel, etc) What worries me the most is the foundation stuff. It seems very intimidating to me. There’s already dozens of small things we need to address. Should we get a contractor first or do we just send the inspection report to the sellers? Do we default on payment if we miss deadline? Does all of these seem normal and fixable without spending tens of thousands of dollars? Should we just move on to a different house? How much should we be able to negotiate the price down? Any experiences with negotiating prices? What should we request sellers to fix? This is like our 5/6th offer within two months and the only one that got through. Some other things found in report: https://ibb.co/RBSRtBc https://ibb.co/sgGSPyP https://ibb.co/GJvNh2z https://ibb.co/hf3P0CN https://ibb.co/zPTZ1K0 submitted by /u/Z_Laurent [link] [comments]

<a href="Read More“>View Full Article

Need More Commercial Real Estate Leads?SAVE 40% this month!

Our commercial valuation calculator was created to evaluate commercial real estate. In 6 quick steps you will know your NOI, CAP RATE, and IRR.

Now you can get your own branded version of our calculator!