Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
That wouldn’t be uncommon for an older home in our part of the Midwest, but not from the 80’s. The open splices and ground are the mostly worrisome and the electrical would be a priority. That’s a lot of repairs but it depends on how the home is priced compared to the comps.
Moisture and termites are common around here, and we are staging active battles against carpenter ants this afternoon - diatomaceous earth to the rescue! But again, the actual damage incurred looks more like deferred maintenance than solid upkeep in a home only thirty years old. If the location was amazing and the price was right I’d do it (we did!), but if they’re selling it as turnkey that’s not the case and I’d move on unless they agreed to a price reduction or repairs.
I doubt that you can fix everything for only $50,000. The termites are a big problem. If they are subterranean termites, they can cause major damage in a short time. If they are Formosan termites, they can destroy a house. It's not a small problem. Did the inspector mention a crawl space vapor barrier? If there is a vapor barrier, the foundation vents may be blocked. People block their foundation vents in the winter, which leads to moisture buildup and sets off dry rot. Depending on the extent of the damage, you may have to rip out walls and floors. A pest control inspection by an expert who can identify different termite species is a must.
The electrical stuff is trivial. Any electrician can fix it pretty inexpensively.
Figure $10,000 for the HVAC. If the ductwork is in, get rid of the baseboard heat and install a heat pump. That may require an upgraded electrical panel. Figure $2k for that alone. The open KOs indicate that some wiring has been revised without benefit of inspection. Have an electrician take a look. Double tapped breakers are pretty common, non-functional baseboard heaters are not.
The plumbing may also require ripping out some finish, though PEX has made re-plumbing houses easier. Figure another $10,000 for that.
Moisture problems can be taken care of with new perimeter drains. That's a hand dig, but probably won't cost over $2k - $3k.
Ignore the crack in the basement slab, but fix the moisture problem before you put down carpet.
The house is a definite fixer-upper. Offer $60k below comp if you have a high tolerance for living in a construction project. Otherwise, pass.
They disclosed nothing on the seller's disclosure we got and yes, per our broker, they are obligated to fix the structural issues.
Your broker is incorrect. If someone is unaware of issues and doesnt have anything disclosed, but an inspection finds issues, the sellers are never oigated to fix any item. The buyers can normally terminate contract, but unless contract stated they were going to fix certain items, then sellers dont have to fix anything.
Awuth, when you say this is your 2nd home purchase...do you mean this is the second home you ever bought? Or do you mean this home on a lake will be your vacation/getaway place from you primary residence?
Your broker is incorrect. If someone is unaware of issues and doesnt have anything disclosed, but an inspection finds issues, the sellers are never oigated to fix any item. The buyers can normally terminate contract, but unless contract stated they were going to fix certain items, then sellers dont have to fix anything.
Some of the issues they were aware of, they just didn't disclose them. I suppose it depends on the state involved.
Hello Everyone! The house we have put an offer on will be our 2nd home purchase and we have never lived in the midwest so we don't know if mold and termites are just a given. Not much available in the area & the comps range from $193k-$222k. The age of house is 1988 and at $325K. However, this house is larger and on a lakefront and has a detached 3-car garage (perfect for the workshop I need). It looks beautiful inside and many things like the master bath have been updated. Well, it appears my friends, they have put lipstick on a pig. The disclosure said they were aware of a small crack in the basement floor and NOTHING ELSE. Here is what the inspection revealed. Please help me understand how big of a deal these things are and how I might prioritize them.:
Electric: "No GFCI protection present in home attached garage OR detached garage. Some exterior lights were out. Damaged front patio outlet. Loose wire on attic light. Three breakers are double tapped in panel. Open knockouts present in panel. Recommend installing blanks in panel cover to prevent access to hot wiring. Door bell transformer noted in panel which can cause excessive heat build up. Recommend removing transformer and installing on the outside of the service panel by a qualified electrical contractor. Open junction boxes present in home. Some lights and smoke detectors are hanging by wiring. Open splices present in home. No CO detectors. Open grounded outlets in home."
Pest: Shelter tubes (termites) found on wall and sillplate in basement under garage walk-in door. No evidence of past termite treatment. Boreholes from carpeter bees on deck.
The roof is listed to be 2-11 years old. Inspector listed a defective roof truss repair but noted it was dry. It also said "Vent stack in attic on east attic shows signs of previous seepage." and listed as defective. The entire deck is completely defective. The wood is rotted through from water and carpeter bees. So is the lower patio where the wood is. The deck isn't bolted to house and the railings are loose. This is a 30k issue-- but we knew that when we saw it.
Mold The house is on a slant so the street drains into the lake and apparently that may be what has caused moisture in the basement. "Recommend Mold Mitigation Contractor to address fungal growth in lower water heater room."
Plumbing "Low water pressure when more than one fixture is running (possible clog?), upper bathroom fixtures leak, Upper bathroom shower engagement stops when other fixtures are running. Bathroom shower leaks during operation." The garbage disposal has been seized (what are they doing? I think there has to be a clog..) Also, they are on a septic system.
HVAC They have central air conditioning but have baseboard heating. The air conditioning unit is 31 years old, and so are the heat exchangers for the baseboard heating. "Incorrect shut-off handle present over water heater. I could not get main middle level to get any heat to baseboards, recommend further evaluation by a licensed HVAC contractor."
There are other things- some broken siding, broken exterior lights, and outlets, and a door that has to be replaced but the big issues are above. We have only gotten back to them on the termites and requested they treat for them. I wanted a termite bond and our realtor made me feel like I was ridiculous for asking. There are so many safety/liveability issues above that I want to ask the seller what they are willing to do before the closing (3 weeks!) and then we can say Yes or No and walk away. Is this a dumb plan? I'm overwhelmed.
Fix the stuff that is going to come up on every inspection: As a seller I'd tell you, if it's working (like your HVAC) then it's working, the fact that it's old or nasty doesn't mean it's broken. As a buyer I'd advise that you push to have the HVAC examined by a pro and have that pro write a letter that it's on it's last legs and that you wanted it replaced in order to move forward with the contract. There's always two sides to every issue. The goal is to come to a meeting in the middle where both parties are satisfied.
Start with major mechanical stuff. Evidence of old termites is simply that, a nothing burger. Plumbing could be an easy fix if it's been a while since you serviced your septic tank, just make sure it's been serviced.
Mold mitigation is also very inexpensive typically and I'd recommend doing it.
GFCI's you need to fix, this will always be a pain on inspections and it's best to get an electrician out there to fix. Probably wouldn't cost you 1k bucks to remedy.
In my opinion, fix the mold, the plumbing, and the electrical.
Fix the stuff that is going to come up on every inspection: As a seller I'd tell you, if it's working (like your HVAC) then it's working, the fact that it's old or nasty doesn't mean it's broken. As a buyer I'd advise that you push to have the HVAC examined by a pro and have that pro write a letter that it's on it's last legs and that you wanted it replaced in order to move forward with the contract. There's always two sides to every issue. The goal is to come to a meeting in the middle where both parties are satisfied.
Start with major mechanical stuff. Evidence of old termites is simply that, a nothing burger. Plumbing could be an easy fix if it's been a while since you serviced your septic tank, just make sure it's been serviced.
Mold mitigation is also very inexpensive typically and I'd recommend doing it.
GFCI's you need to fix, this will always be a pain on inspections and it's best to get an electrician out there to fix. Probably wouldn't cost you 1k bucks to remedy.
In my opinion, fix the mold, the plumbing, and the electrical.
Awuth, when you say this is your 2nd home purchase...do you mean this is the second home you ever bought? Or do you mean this home on a lake will be your vacation/getaway place from you primary residence?
It's the second home that we ever bought-- primary residence.
Thank you, everyone, for your help with this! We finally had a chance to speak at length with our realtor. He said the pipes are copper so he's sure there isn't an issue with galvanized pipes being corroded. He said that the inspector had every faucet in the house turned on and so the pressure got low... however the inspector said the valve completely shut off in the shower. We aren't budging on getting contractors now to reassess the major items.
Here is a brief of what we requested:
1. Seller treats for termites.
2. Seller will have contractor/plumber asses low water pressure when more than one fixture is running, ensure no leakage from attic stack vent, fix the leak in upper bathroom fixture, and fix garbage disposal.
3. Buyer will have an environmental company asses the fungal growth in the basement.
4. Buyer will have an HVAC contractor assess the lack of heat on main level.
5. Buyer will have electrical contractor give cost assessment for installing GFCI, correct open grounded outlets, repair loose wires, etc. etc.
--The buyers will be asking the sellers for a credit for any repairs/treatments found in the environmental assessment of fungal growth, HVAC, and electrical items.
Our realtor thinks this guy is going to tell us to take a hike. We feel like this is completely fair- we aren't asking for anything cosmetic, these are safety/health issues. Apparently these aren't going to be issues with the appraisal or loan? This was not listed as a fixer. This house will probably get listed again and I really believe they wont disclose any of this.
We are in shock at the disclosure forms we saw in the state: a short list of Yes, No, N/A questions. We narrowed down to 6 final houses-- no one disclosed anything, even when it was clear that a basement had flooded or a roof had been replaced. What a waste of our time. When selling our house (a state in the West) we had to put the age of everything from appliances to AC to the roof. We also had to list any known issues that we were aware of EVEN IF they have been completely resolved or happened long before we lived there. For example: we disclosed that a decade ago, the person who owned the house made a claim from insurance to have the carpets cleaned because a wildfire nearby had cause some smoke damage in the house. We listed EVERYTHING. You know what the buyers asked us to do? Pay for a $150 HVAC cleaning and hammer down 2 loose nails on our deck.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
