We found our dream home, after at least 15 offers and about seeing about 100 houses. Perfect location, amazing lot, architecturally what we want, but we found a ton of issues at our inspection today. The home needs a new roof, termites, carpenter bees, tons regular bees in the exterior soffit, lots of windows need replacement, water coming out of the chimney, the fireplace insert is toast, evidence of mold in the basement, bathrooms leaking to the downstairs, all the kitchen appliances are throw aways (oven has a frightening fungus, vent hoot dangling, trash compactor dead, fridge is super old), all of the siding needs to be replaced or heavily repaired, a deck needs to be completely rebuilt… there was no sellers disclosure because it is an estate. We waived all inspections except septic and well.
Things we knew going in and anticipated costs were remodeling the kitchen(80s, in less than ideal condition) and all the bathrooms, as well as remediating the overgrowth of landscape after 5 years of neglect. We are at the top of our budget with our offer.
We are still pending our septic inspection and praying it fails so we can renegotiate.
But if it doesn’t fail.. what would you do? We found our our agent is a terrible negotiator and is always extra by the book. He cannot provide anything helpful in terms of what we can do to adjust the offer.
Something I thought of, it’s a little risky and dirty… we disclose everything we found in the inspection report to the sellers agent. Say we need to renegotiate or we are walking away (they keep the 5k earnest deposit). My hope they would be willing to disclose because I’m guessing they will have to disclose everything we found in our inspection?
Any other ideas on how we can possibly get the price reduced given all these problems? I know we waived most of the inspections (DEEP REGRET). I am unsure of whether to give up the property because We love it so much, but we would be making a BAD deal.
Sorry if there are errors all over this post. I woke up at 3 am because I couldn’t sleep and it is now 6:30am.