Strategy on needed repairs?
I have a contract on a million dollar property for short-term rental. It was presented as turnkey except for furniture. The only disclosed defect was a pool leak.
inspections reveal about $45,000 in necessary repairs. My agent suspects they will balk, given that they say they had other full price offers. Wouldn't they now have to disclose these defects and the other people would likely ask for the same repairs. I am a bird in the hand.
my agent mentioned to them that there was about 25k in repairs which upset me because that was incomplete information. It only makes my ask of 45k harder. Seller offered current furniture for 25k. He probably doesn't really have any use for it but the price is not unfair. I was going to offer him to provide a $20,000 credit plus the furniture but I anticipate pushback.
I actually have a nice reporter with the owner but my age is told me not to do the negotiating and to let her do it. I don't have a lot of confidence given that she already for no reason gave him a number to chew on that's way less than what I'm looking for.
what is the best strategy? Should I share my contractors estimate? Any other advice? It is a beautiful property and I am paying full asking price. I believe that the code violations, rotting wood around windows, electrical and plumbing issues that weren't disclosed {not implying he knew about all of these) should be fixed (by me after a credit)