- 6 years ago
- Wedding: December 2011
So we had our inspection on this wonderful house we are planning to buy. Working on the loan paperwork and everything.
The inspection went well. Inspector said it’s a great house for its age (1932). It’s a steal at $113,500. It’s a former foreclosure being flipped and it has brand new tear-off roof, new garage, new boiler, new electrical, new heat, new carpet, new countertop, new appliances, new or like new everything. Move-in condition.
Except the basement. The basement had 1 crack in it, which the inspector said was not excessive and just watch it and make sure it doesn’t move. It’s an 80 year old house so there would be some settling. The ground outside that wall slopes down to it instead of sloping away.
Well, the inspector went back this weekend to pick up his equipment for the radon test, and the radon test came back HIGH at 7.4. Obviously the sellers would need to remediate that and I think it’s like a $1,500 remediation.
But worse, the night before we happened to have an absolute MONSOON here after being bone dry all summer. The inspector now saw two small puddles along the side of the wall that has the crack in it. He says it’s not an emergency but eventually we would get tired of seeing water in our basement after a storm and having to clean it up. He estimates about $10,000 to waterproof the entire basement. He also said to make sure we don’ t let the seller offer to fix it. They should give us price consideration on the house, and then once we own it we can make sure to hire a conractor WE trust to do the job right.
We sent a note to our agent telling her all this and asking if we can knock $5,000 of the purchase price, with them also fixing the radon (everything else is fine with the house and like I said, in brand-new condition). So that would be $108,500. With the rate we got we would be paying $890 a month, about $150 more than we pay right now for our efficiency apartment.
I don’t know bees, what I can ask you. What are your thoughts. We just did a quick search online and there aren’t any houses that fit our critera/budget on the market right now. There are several in the same neighborhood, in our price range, but they are about 1100-1250 sq feet as opposed to the 1500 sq footer this is. For background, this would likely be our forever home. We like to live small. But not so small that we are bumping into each other. We really need 3 bedrooms, 2 is just too small. In case we have opposite-sex children and so forth.
All of the houses we have gone to inspection on seem to have basement issues, I don’t know if it’s our price range, or just that the houses in this area are often quite wet. I think I posted about an earlier house we were looking at, we pulled out on that one because it was just too much. I am so tired and stressed out. Do you think they will go with the $108,500? Now that we’ve told them about the water, would they be required to disclose that to any future buyer? We got lucky having the inspector go back after a big rain. On the disclosures the owners just said “make sure to run a dehumidifier during the hot months.”