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Hello Everyone, I'm under contract on a home that I really want, but there are inspection concerns. I'm hoping to get some insight into how others would approach the task of continued negotiations with the sellers. The issues were enough to cause me to postpone the appraisal, but I don't want to seem nit-picky either. Any insight/advice shared would be greatly appreciated.Thanks in advance.
I offered selling price ($22K more than what I hoped to spend on a home). I also agreed to pay all closing costs, due to the sellers market and competition right now (I was already out-bid on 2 homes). I will also have to make a down payment on the amount exceeding my remaining VA entitlement. That being said, I don't want to end up with a home that's gonna later cost me more money in repairs going in.
The home inspection identified 3 things that can be costly down the road, electrical, roof and plumbing. The sellers took care of the electric issue ($500) and I'm still trying to resolve the roof and plumbing.
Plumbing - During the inspection, there were leaks in the crawl space from the furnace, drain pipe and toilet flange (leaks when primary toilet is flushed) and low water pressure. My agent and I were present during the inspection and witnessed the leaks. In this case, I asked the seller to have the plumbing inspected and issues resolved. They agreed to do so. However, when we received the repair invoice, only the drain pipe leak was repaired, the invoice said the furnace and toilet flange had no leaks and nothing said about the water pressure. If I hadn't seen the leaks myself, then I couldn't dispute it, but I know what I saw. The inspector also included photos of the leaks and water puddled on the floor. So, for the seller's plumber to discount the other leaks is concerning. It could be that he didn't to flush the toilets and and run the furnace during this inspection, like we did, but why wouldn't he/she if their really trying to sort out the problem? I think the sellers should have also made sure a thorough inspection was performed.
Roof - Inspector noted cracked flashing, some shingles lifted and the roof uneven on the edge. Inspector suggested having a roof inspection. I asked the sellers to take care of the roofing issues or provide a credit. I even offered to pay for the roof inspection. They said they would get quotes to determine a credit, but provided a repair invoice instead. The roofing company that they used caulked the flashing, but didn't address the shingles or uneven surface. Then also provided a certificate and inspection report that says "the roof is in satisfactory condition with no evidence of leaks. roof not worn out and has an estimated physical life of 3yrs. Roof and ventilation all in good condition." But, I question how this can this be so with the other issues remaining? In addition, the sellers originally said the roof is 4yrs old, which contradicts the inspectors estimated lifespan of 3yrs. The sellers probably recognized this, because now they are saying that the roof age disclosure was incorrect (honest mistake, according to them), but haven't said what's the real age. So, the roof could be older. I really have no idea what to make of it.
In my opinion, these items weren't sufficiently addressed and it doesn't seem unreasonable to ask seller to still take care of. But, my concern is that if I push back too much, that the sellers will back out. I would think that since I am paying offer price and closing costs, that the sellers would be wiling to spend the money to properly repair these issues, barring that the repairs don't turn out to be as much, or more than, they would have paid for closing costs.
What would you do? How can I approach the sellers, without making it seem like I'm calling them dishonest? I really would like to sort this out, without either of us walking away from the sell.
Not give a hoot about what amounts to be trivial stuff.
My answer is in regards to the situation; you already been out bid twice and you are in a sellers market. The seller in this case can just back out and sell that home to the other people waiting in line, most likely with zero care from them about any condition of the home.
And really, unless there is an item that the lender wants repaired, I cannot fathom ever entertaining the idea, as a seller, of repairing something for any other reason.
Ask yourself; are these items worth losing the house over?
Not give a hoot about what amounts to be trivial stuff.
My answer is in regards to the situation; you already been out bid twice and you are in a sellers market. The seller in this case can just back out and sell that home to the other people waiting in line, most likely with zero care from them about any condition of the home.
And really, unless there is an item that the lender wants repaired, I cannot fathom ever entertaining the idea, as a seller, of repairing something for any other reason.
Ask yourself; are these items worth losing the house over?
It seems like the roofing issue is pretty significant. If it was priced with a relatively new roof in mind, and now an inspection has revealed that it is getting closed to the end of its life, that is a pretty big difference.
Can you easily afford the $22k more than you’d originally budgeted for? Will you be able to afford to replace the roof in 3ish years? Was there damage caused by the leaks and if so, was that damage repaired?
Do you have to buy now?
If it were me, I’d walk. I don’t have a crystal ball but I’d resign to waiting until the market balances out. When there’s more inventory in my budget and there aren’t bidding wars. Probably sometime next year.
The roof issue sounds like a material misrepresentation to me. Whether it was an "honest mistake" (probably not) is immaterial. For me any structural issue is more trouble than they're worth and a dealbreaker. Especially so if the repairs coincide with when the house was on the market.
Get a a plumbing specialist and roof specialist in to inspect the place immediately. If they tell you that the work is unsatisfactory, make the seller repair it again, give you credit for repairs, or walk away. TBH given the seller's penchant as shown in the repairs for band-aid fixes, I'd be inclined to get every specialist I can think of (roof, plumbing, gas, electric, HVAC, foundation, termites, etc) in to go through that place inside out, upside down and backwards. Who knows what other haphazard band-aid fix they're hiding. If they don't let you, they're hiding something - RUN, don't walk, away.
The thing about seller's markets is they often don't stay that way for very long. And every seller thinks their market is a seller's market - but the market for real estate is so segmented you have to look at the marketability of that particular home. Every seller thinks their house is the best on the block - newsflash, it isn't. I'm in one of the hottest metro markets in the country and some homes routinely sit for 6+ months.
Keep in mind also that once these issues are known to the seller it must be disclosed to any future buyers, diminishing the future marketability of the house.
Last edited by albert648; 10-17-2020 at 08:01 AM..
Can you easily afford the $22k more than you’d originally budgeted for? Will you be able to afford to replace the roof in 3ish years? Was there damage caused by the leaks and if so, was that damage repaired?
Do you have to buy now?
If it were me, I’d walk. I don’t have a crystal ball but I’d resign to waiting until the market balances out. When there’s more inventory in my budget and there aren’t bidding wars. Probably sometime next year.
I agree, especially regarding the roof issue. When I was looking to purchase one of the homes I had, The inspector told me to budget for a new roof in a few years time. I replied that it wouldn't all be on me. The sellers and I agreed to split the cost of a new roof in order to finalize the sale. You seem to already be at a maxxed-out budget at this point. Remember, there's always another house, even in a "hot" market.
Location: Stuck on the East Coast, hoping to head West
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I would walk. So far you've taken on a mortgage bigger than you wanted, paying more in closing costs, the down payment, etc.
The sellers aren't forthcoming...example: age of the roof. Doesn't it matter if it was a "mistake" or not. They are hiding the age.
They don't care about the plumbing leaks, which is a big warning flag. As a homeowner, water leaks were always a major deal to me because of the damage you might not be able to see and the mold.
Every house has issues that will come up after you move in, even after an inspection. That's not unusual. But you will be dealing with unexpected issues + roof issues + plumbing issues.
The house could be priced correctly, given the condition of it. I just don't think you have the money to afford the house + those repairs.
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