Failed Property Inspection
I just received notice from my realtor that my buyers from my first flip in Burien, Washington (SW Seattle area) pulled out of the contract because it failed inspection.
Two reasons:
- Roof needs to be completely removed and install new roof. The issue is the top newer layer was installed on top of two existing layers. This creates a problem with weight and is unsafe.
- The electrical is nob and tube and needs to be completely redone.
The inspector said the costs of these two items could be some between $15,000-$20,000. The Buyers are not willing to make that upgrade on their own.
Multiple contractors have told me that you can have up to 3 layers on a roof, but this one failed at 3. Before my (general) contractor started the rehab work, he said he only saw one layer on there, so right now there should be only two. He's going to the property to inspect the roof tomorrow.
My contractor also said he's sold many homes with nob and tube electrical.
So my question to any local contractors, inspectors, or persons of knowledge out there: Should these things have failed the inspection?
I really liked my buyers too. They offered full price the day after the property was listed with 20% down conventional financing and less than 30 days close, I countered with twice as much earnest money and less days for inspection, and they accepted the counter the following day. Any chance I can get them back? I believe they may be first-time home-buyers and scare easily.
