Red Flags or No?

Homebuyer Forum
1

I’m in the process of buying a house in SW Colorado, and I have some concerns. We put in an offer on 11/26, which was accepted the same day. The sellers requested a quick close to avoid taking on a HELOC, and we agreed to a 9-day rent back after closing.

However, after receiving the inspection report, which noted several expensive issues (like a 29-year-old water heater, wiring issues, and structural concerns), I was surprised that the sellers’ disclosure was two days late and didn’t mention any of the serious issues found in the inspection. It seemed very unprofessional, as if they were ignoring obvious problems. We’re getting a structural engineer’s consultation and quotes for repairs, and while we love the house, I’m feeling uneasy about the sellers’ lack of transparency and the potential for hidden problems.

Should I be worried about these red flags, or am I overthinking it?

2

Your agent should have ensured the disclosures were provided on time. Given the inaccurate seller’s property disclosure, you should consider walking away under the inspection contingency.

3

Thanks! We’re thinking that if the structural report is good, we’ll ask for a significant price drop or walk away. I definitely don’t want to deal with expensive repairs right after moving in.

4

Many people genuinely don’t know the condition of their homes. They might not realize that a slanted floor or an old water heater is a red flag.

5

Honestly, don’t buy this house. If the structural engineer gives you estimates, double them and add 15%. You’ve already noticed too many red flags.