Three major repairs came up during inspection. Homeowners’ insurance won’t cover until addressed. How to proceed?

Hi all, I am under contract for a beautiful but very dated 1910 home. The house was an estate sale, and the house was well taken care of for most of its life but many items had been reaching the end of their lifespan when the prior owner passed. I know I was not the highest offer, but offered the fastest closing (I’ll be 9 months pregnant at settlement).

Inspection revealed 3 major issues:

some knob and tube wiring (most of the house is updated to romex)

a major active leak in the cast iron sewer pipe

the roof is 30 years old though without significant damage.

Aside from these large items, the house was in generally good repair. I spoke to a homeowners’ insurance company who stated that they would not insure the house with a roof of that age, nor would they cover K&T if it fed outlets (it feeds at least one).

My inspector quoted repair prices, and these 3 total between 24k and 30k. My original offer was 430k (just above asking). Fully renovated houses in the area are selling for 450-480ish.

I know this is still a strong sellers’ market, but these are major issues. I should add that the house also needs full cosmetic renovation (kitchen is from 1970, hardwoods need to be refinished, trim work, etc). The A/C, windows, and water heater are all also approaching the end of their lifespans, which I knew from the open house and was willing to deal with. I am not afraid of the work as this is a forever home, and I dealt with a fixer upper on my last house so nothing scares me. I can also fortunately stay in my current house for a month or two while work is going on. But what might be reasonable to ask of the sellers in terms of credit/repair? I don’t want to ask for too much but $30k immediately before moving in, on top of all the expected cosmetic repairs, is a lot.

submitted by /u/pizzasong
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