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We got the inspection done today and I am waiting for the formal report.... but the following was a verbal assessment from the inspector...
1. Sprinklers unable to be tested because owner said the pipes were damaged.
2. Minor rot on the roof side panel.... can be fixed by painting over it.
3. No carbon monoxide detectors in the house (need 2 one on each level)
4. Electric panel is a proven fire hazard (its part of a recall by a bankrupt company.... FPE in case anyone was wondering approx cost of replacement is around $1500-2000)
5. Inground oil tank, recommend moving up.
6. Shed has broken sidings. Not a major issue.
7. Washer/Dryer pipes are rubber, recommend metal pipes.
8. There a little mold in the attic, but looks like its under control and its not increasing after they put the vents.
We have already spoken to the owner and they said they will not do anything with the oil tank (approx 2k to move it up I guess).... the (2) is something that I think is minor.
Also the shed has broken sidings that I have agreed that its ok if they don't fix it. The washer/dryer pipes... Hmmm... not sure if its a big deal.
But I feel that the panel is something I definitely have to replace due to the potential hazard and the sprinklers have to work before closing. I feel I have made enough concessions and the above involves approx 2-3k more of expenses.... I feel it has to come out of their pocket.... what do you guys think ?
Note: I felt I was paying a fair price for the house before the inspection.
The homeowner probably wants nothing to do with the oil tank in the event it is leaking.
I would want the panel fixed, or the homeowner to reduce the asking price.
I would want operable sprinklers or reduce the asking price.
How long has the house been on the market?
What are comparable properties in the area selling for? Are they about the same or better/worse condition?
The homeowner probably wants nothing to do with the oil tank in the event it is leaking.
I would want the panel fixed, or the homeowner to reduce the asking price.
I would want operable sprinklers or reduce the asking price.
How long has the house been on the market?
What are comparable properties in the area selling for? Are they about the same or better/worse condition?
Similar houses are selling for approximately the same price I offered before the inspection plus/minus 5k .
Now with the oil tank, I plan to abandon it and put one above ground at my expense. Should be a straightforward process right ? Is there a possibility that during the abandoning process you might discover a leak and then I have to spend big $$$$ to fix it ?
Right now there aren't any laws on the books about abandoning oil tanks so it shouldn't be a problem (ie there is no law requiring soil testing, etc). I've heard it's a pretty straightforward process. They just fill it with sand or foam and it's not removed.
Right now there aren't any laws on the books about abandoning oil tanks so it shouldn't be a problem (ie there is no law requiring soil testing, etc). I've heard it's a pretty straightforward process. They just fill it with sand or foam and it's not removed.
If the company doing the abandonment sees any sign of leaking, they are required by NYS law to contact the DEC within a few hours. My neighbor got into that situation. $100K later and all is well, all contaminated soil removed.
If the company doing the abandonment sees any sign of leaking, they are required by NYS law to contact the DEC within a few hours. My neighbor got into that situation. $100K later and all is well, all contaminated soil removed.
The washer water lines from appliance to wall box are a 5-minute fix to change from the rubber ones to the steel-wrapped. Make sure you get the real metal-wrapped ones and not the cheaper lookalikes which are nothing more than silver-painted plastic.
I'd negotiate the sprinklers because it sounds like the system wasn't properly winterized, which means you have no idea how many lines are cracked. Could be one zone, could be two, could be all of them.
Electric panel is a biggie. See if you can get estimates from electricians before negotiating a price adjustment, since you don't want to just take their word that it will cost $$ and then after you buy, find out that nobody will do it for less than $$$$.
Carbon monoxide detectors are an omission you can solve with a quick trip to your local Target or Wal-Mart. I like the ones that plug into an outlet and also have a battery for backup. Make sure you tell your homeowners insurance company that they are there, in case they offer a discount for protective devices.
It looks like the major issues are the electic panel, the oil tank, and the sprinker system. I have seen people negotiate over oil tank abandonment and electric panels before, and I really think that it comes down to how badly you want the house. The electic panel is 1500-2000 and the oil tank is about another 2000 (although you could delay that). So you're looking at about $5000 max and you stated that other similar homes in the area have sold for +- 5,000. So, even with those expenses, your still within the range.
Also, the in-ground oil tank was something that you should have known about before the inspection.
I would be a bit more concerned with the sprinkler system, as it was unable to be tested and the owner said there were problems with it. I would look at it as if there was no sprinkler system and decide how much difference that would have made in your offer.
if it is just replacing the panel and not the service, I doubt it would be a full 1500-2000(note I'm NOT an electrician, just a home owner)
In ground oil tank- is a fact, doesn't sound like its an issue.
sprinklers unless stated before you made the offer sound like something they should remedy before closing.
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