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Beautiful old brick house that had been flipped, so the interior had been fully updated.
Issues:
Several cracks in exterior walls, including some on the attached garage side that showed signs of outward movement. The inspector said that a structural engineer should be consulted and that he would probably recommend some sort of new structural support beams.
Odd pipe that drained into the front yard every few minutes that was connected to the sump. We noticed this prior to our offer, but didn't realize the full extent and frequency of this drain. It had rained the night before we first visited the place and thought it just didn't drain well.
Area around the perimeter would have to be re-graded, as it all sloped toward the house.
Mold was found in the attic around the perimeter where the gutters were attached on the outside. Also there were a few spots of rotted wood in the attic.
The furnace was listed as new, but the inspector could not corroborate that because someone had scratched off the year it was built. The inspector could only determine based on the serial number that it was built somewhere between 2012-2015.
The interiors of the walls in the basement had moisture. No mold was visible, but you never know.
One of the fireplaces did not have a cap on the chimney and the entire pit was rusted and the floor of the fireplace was wet.
They had installed new washer and dryer hookups in the basement....BUT there was no existing dryer vent. You would have to have someone saw through the brick and install one.
Nearly all of the doors on the second floor would not shut. Compared to everything else, this was minimal, but it was shocking to me that they would allow a newly updated house to go to inspection with something so obvious and easy to fix.
Other minimal items:
Doorbell didn't work
A waste pipe in the basement (which appeared to have been updated) had a crack and was leaking when water was run in the kitchen sink
Really low water pressure
Newly installed garbage disposal was not working properly
Several outlets were not up to code
Roof had a few visible holes from inside attic where you could view daylight
I realize that several of these items should have been found before we ever made an offer and I am upset at myself for that. This is going to be my first house purchase (I've previously purchased a condo) and I obviously need to better teach myself what to be looking for. The entire inspection was a total eye opener, but it will make me much more vigilant in the future.
One last thing....the seller and seller's agent refused to be at the inspection and refused to receive a copy of the inspection, which, at least for me, makes it seem like negotiating would be very hard to impossible.
Last edited by ChicahgoChicahgo; 04-22-2019 at 09:23 AM..
If the Sellers totally deny any repairs or compensation via concessions at all:
1. Can you afford the project?
2. Is the ARV (After Repaired Value) still withing shouting distance of market value?
3. Is the location superior to the point that it justifies some pain?
1. Can you afford the project? Not sure. The only way to find out is to hire a structural engineer to view it and create drawings/plans and then take those plans to a contractor to get a quote. Without the seller seeing the inspection or that contractor's quote, there is no point in negotiating.
2. Is the ARV (After Repaired Value) still within shouting distance of market value? I guess I'm actually concerned that it will not appraise at the contract value. It's a flip, and there are very few others in the neighborhood that have sold recently, so I'm concerned an appraiser that doesn't do his homework would appraise low.
3. Is the location superior to the point that it justifies some pain? Location and neighborhood are fantastic, but the pain could be more than I'm prepared for.
My realtor was there with us at the inspection, but was still trying to convince us that we could somehow negotiate with the seller. He kept telling us that "mold is no big deal, all houses have mold. They will just clean it up with some bleach." He wanted us to keep an open mind and think of many of these items as minor. Is he right, is he just trying to stay positive for us in case we decide to still buy the house, or is he being too much of a salesman and not putting our interests first?
I am planning on canceling the contract. I just wasn't sure if I was overreacting as a relatively new home buyer or if these were truly deal breaking issues. I realize that the inspector and realtor are not allowed to flat out tell you to cancel. My impression from the inspector was that he was almost shocked by a few things. My realtor, on the other hand, kept pushing for quite a while to give negotiations a shot. It's just another reminder in life that very few people have your best interests at heart and to never fully trust salespeople. No matter how nice they are, and my realtor is very nice, it's ultimately about the sale.
I am planning on canceling the contract. I just wasn't sure if I was overreacting as a relatively new home buyer or if these were truly deal breaking issues. I realize that the inspector and realtor are not allowed to flat out tell you to cancel. My impression from the inspector was that he was almost shocked by a few things. My realtor, on the other hand, kept pushing for quite a while to give negotiations a shot. It's just another reminder in life that very few people have your best interests at heart and to never fully trust salespeople. No matter how nice they are, and my realtor is very nice, it's ultimately about the sale.
I am certainly allowed to strongly recommend that a buyer client walk away. Definitely, and I have certainly done so.
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