I could use your insight. I’m under contract for a house that was purchased just a month ago but is back on the market due to the last buyer having a health issue. The new owners renovated the master bedroom and painted the interior, adding $100k to the asking price. We offered $50k under and got the contract signed. However, during our inspection, we found that the pipes have that outlawed poly material and need to be replaced for insurance. We’re shocked the last inspection missed this! The inspector admitted fault and said his insurance would cover it, but now a plumber says he can fix it with minimal cuts, so no major renovations are needed. I’m wondering what I should be asking for. Shouldn’t the price come down after discovering this? Plus, the water heaters are over 30 years old. Any advice would be appreciated!
Definitely ask for a price reduction! If the pipes need replacing, that’s a significant issue. Plus, those water heaters should be a concern too.
Vero said:
Definitely ask for a price reduction! If the pipes need replacing, that’s a significant issue. Plus, those water heaters should be a concern too.
That’s what I was thinking! I feel like we’re entitled to some compensation.
You might also want to ask for the sellers to cover some of the repair costs. It’s their responsibility since they just bought it.
Charlie said:
You might also want to ask for the sellers to cover some of the repair costs. It’s their responsibility since they just bought it.
Good point! It would be fair for them to help with those costs.
Make sure you get everything in writing! If the inspector admits fault, that could help in negotiations.
Wes said:
Make sure you get everything in writing! If the inspector admits fault, that could help in negotiations.
Absolutely! I’ll definitely document everything.
It’s a tough situation, but don’t hesitate to negotiate! You have leverage with the inspection findings.
Lennon said:
It’s a tough situation, but don’t hesitate to negotiate! You have leverage with the inspection findings.
Thanks for the encouragement! I’ll be sure to use that in our discussions.
Remember to factor in the costs of future repairs too. If the water heaters go, that’s more money out of pocket.
True said:
Remember to factor in the costs of future repairs too. If the water heaters go, that’s more money out of pocket.
Great advice! I’ll keep that in mind when negotiating.