Looking to buy cottage. Great location. Inspection revealed rot in 1 beam (agents, sales)

[fun4stuff]

So we are looking to buy a summer cottage. It’s in a really great location for us.

It’s an old house. We think it probably was abandoned at one point. It has mostly been redone (new plumbing, roof, ethical, windows, etc).

However inspection revealed rot in one of the basement support beams. It is directly underneath a bathroom drain. So there probably was a leak at some point. About 1-2 ft of the beam is involved.

How would you proceed? Anyone have a roundabout guess on how much this would cost to repair?

A buddy of mine in construction said he thought it could cost $1-2k to fix. We were thinking about asking for seller to to pay closing costs and to knock some off sales price so we would have enough cash to cover $5000 (just in case it costs more).

Here are pics of the beam:
https://imgur.com/gallery/kfycYXB

[BobTex]

$1K seems fair. Could probably be done as a DIY for $200. Doesn't look like a hard job with everything exposed.

My $.02 but YMMV.

[fun4stuff]

Originally Posted by BobTex

$1K seems fair. Could probably be done as a DIY for $200. Doesn't look like a hard job with everything exposed.

My $.02 but YMMV.

Thanks! Yea, i understand my miles may vary. Just looking for advice. Don’t have any experience with this! I hope we aren’t ignoring a red flag because we otherwise like the cottage and location.

[oregonwoodsmoke]

Have a qualified contractor look at it and give you a quote.

[skimbro000]

I would not guess. I also would have a contractor look at it and give you a price.

[rational1]

Originally Posted by oregonwoodsmoke

Have a qualified contractor look at it and give you a quote.

Great advice except- most places today you are not going to get a contractor to bid on a small job in a hurry.

Realistic options are:

1. Get it repaired before closing by seller, often selling agents have a list of rapid-responding workmen.

2. Have money escrowed, with excess to be returned to seller.

3. Make your best guess about price, add a buffer, and try for a price reduction.

My guess is that a seller might go for 1-2K reduction but not 5K. But it all depends on the market where OP lives.

[fun4stuff]

Originally Posted by rational1

Great advice except- most places today you are not going to get a contractor to bid on a small job in a hurry.

Realistic options are:

1. Get it repaired before closing by seller, often selling agents have a list of rapid-responding workmen.

2. Have money escrowed, with excess to be returned to seller.

3. Make your best guess about price, add a buffer, and try for a price reduction.

My guess is that a seller might go for 1-2K reduction but not 5K. But it all depends on the market where OP lives.

Great responses. Thanks everyone!