Post # 32
Walk. Especially if the sellers have already proven reluctant to negotiate. It might be that they have to get a certain price because that’s what they own the bank. If that’s the case, they’re not going to discount any for the repairs. They’ll let you go and hope the next guy’s inspection is less comprehensive. It will just be a waste of your time and the extra money for additional inspections. Also, there will ALWAYS be things that need to be fixed that are not identified by the inspection, or that are in perfect order at inspection time but konk out a month after you move in. With this place already needing so much work, I would pass.
Post # 33
@JaneyDcat: Oh yes, this house was seriously overpriced even before you get into these issues. It sat on the market 5 months before we made our offer, they dropped the listing price $70K in the end. It originally sold for about $250K less than our offer.
Post # 34
WALK AWAY!!! I was devastated to have to walk away from a house we put an offer on with WAY less issues than this. It was the best choice I ever made. Two weeks later I found my house that I am living in now.
Every home has issues, but those are a lot of significant ones to start off with right off the bat. Move on, you’ll find something better!
Post # 36
I’ve always heard to be wary of “flipped” homes because a lot of times they cut corners and make things look nice but it doesn’t last.
Also, foundation problems and termites are non-negotiable in my mind. Walk (run) away.
Post # 37
This is one I would walk on. When I bought my house I knew there were things that needed to be fixed and altogether it was about 25K worth of work and it wasn’t even as bad as the things you are describing here. A house is business decision in the end. Yes it is a place to live but you need to make sure that emotion isn’t swaying your decisions.
Things i did to my house…some new siding on the garage, new cement porch poured, new insulation in old attic, new window in hallway, deck fixed to house, entire house painted…that was about 5K. And a lot more!
Post # 38
I’m a structural engineer, and although I don’t know the extent of the foundation cracks – I would be more worried about the termite damage. I would walk away if a home inspection showed termite damage. It’s just not worth it.
Post # 39
Walk. Termite damage + structural issues = bad! Not worth it!
Post # 40
I walked away from a house with a great deal of termite damage and in need of a new roof. It was beautiful, and I still think about it, but this happened right before the bubble burst, so I am not sorry.
Post # 41
@JaneyDcat: Ex.ac.tly what I was thinking.
I’d either insist the seller fix all of those things on their own dime (especially the hot water thing) or I’d walk away, that sounds like a total mess.
Post # 42
@Bebealways: Threads like these scare the pants off of me– but it’s good that we all learn this stuff!! How the freck did people buy houses pre-internet days and not get completely ripped off???
*I lucked out. I married a mechanical engineer. My husband actually had to point out to the inspector that the electrical panel in our house wasn’t up to code! Hubby is now working on rewiring the entire house….and doing it all by the book.
Post # 43
I would get quotes for the work and then add 10 percent then subtract that from the lowest accepted offer that is if we LOVED the house. But Darling Husband and i are engineers and likely wouldn’t buy a flipped house ever.
Post # 44
Walk away-that House has way too many issues to buy! Who knows what else is wrong…
Post # 45
I would walk away.
It’s definitely a problem with flipped houses – they do the minimum amount of work to put it back on the market, hoping that nobody will look beyond the decor they’ve upgraded. Not worth the risk. Just think of all the stuff the inspector couldn’t see!
Post # 46
Foundation issues=run away!