My business partner and I are in the process of trying to purchase a duplex. We noticed on our walkthrough that there is a cast iron sewage pipe in the basement that has a crack in the "U" before it goes through the wall and underground outside. Since this could be a pretty substantial fix, we wanted to get a quote from a plumber before we made an offer. Apparently the plumbing business is booming or we're just not asking right because we can't get anyone to quote this job yet.
Now we're getting a little nervous that somebody else will tie up the property before we do. We're contemplating making an offer, contingent on the inspection of course, but to make sure that the inspector notes the cracked pipe on the inspection report so that we can still address the issue.
I know this isn't really the hardest issue to overcome, but I want to know what you experts have to say about it. Does anyone have any experience with a similar situation or ideas for how to handle this?
Thanks in advance!
Hi, is the crack going into the wall, if so a little bit more trouble, if there is room to cut the cracked cast iron out in the basement much easier. If the crack is going down the pipe through the wall you will have to dig it up outside as well so you can cut that section out. How far underground is it where the pipe exits the building. Is there concrete outside or bare ground, a lot of factors go into the fix. You might even need to get a plumber to camera the line. Just a few suggestions. As for getting a plumber out there, some plumbing companies give free estimates, if not you might have to pay someone a service call fee to come out and take a look. Good luck
Thanks! I would have never though it could be cut. Is it some sort of coupling that you use to reattach the new piece then, or do you have to thread what's left or how does that work? The crack is contained within the basement and is not going into the wall. It's cracked on the bottom of the U which has about 8 inches of pipe before going into the wall. I'd guess that it's about 2 feet underground outside. As for the ground it's hard to tell because there is a flower bed along that wall, but the air conditioner and its concrete pad are close. Either way, I think it would be able to be dug up if needed without breaking concrete.
As for an update, we moved to put in an offer contingent on the inspection, and someone else already beat us. It had gone into contingency as we worried it might. We're still going to try to be a backup in case the current offer falls through, but we definitely drug our feet too long. I guess we have to chalk that up to lesson #1. At least it was a free lesson!
I always make my offers subject to inspection and I am present when the inspection is done. If you have any questions on issues that you may have you can ask the inspector, and if there is an issue they can make note of it in their report. If an issue arrises you can always write an addendum to the offer to cover the expenses to fix issues. I just closed on a property yesterday where some issues came up during the inspection and we renegotiated the sales price. If the seller is unwilling to cover the cost for the repairs then you have the option to bail if you want.
Thanks! At what point do you say there are too many problems to even renegotiate? Is it usually based more upon a percentage of the purchase price for the estimated repairs, or more of just the hassle of how much needs fixed? The reason I ask is in the case of my investing plan, I'm looking for propertires that don't need to have major renovations to be rentable. I can see where a good enough deal with rehab work could bring back good returns on the value of the place, but I'm not wanting to speculate on rehab costs and ARV.
Yes, if it is all cast iron, we use snap cutters to cut the pipe, and use couplings to put it back together. you don't have to thread the pipe.