Hello, tomorrow is the last day of an option period for a duplex that I am considering buying, the inspection was OK but it was noted that there is indication of movement or settlement. the foundation was repaired in one side of the house and has a lifetime warranty, however, in the exact opposite side of the house there is a stair step crack, I attached the pictures. in one side is about 1/16 inch at the very top but it stop in the middle section of the wall, on the opposite side of the corner it goes all the way down and even a brick is broken; however, I dig and found the slab to be intact. When I asked the inspector he made it seem as if it wansn't a big deal and he said that this is expected from older homes (built in 1974) still he marked the foundation as deficient in his report but he did mention that the foundation is in serviceable condition.
Tomorrow my option period ends and need to make a decision, I estimate that the seller is selling at around 10% below market value. It is a good deal but not a great deal. Everything else looks good in the inspection report (nothing major at least). Anyone can give me a better understanding on how to proceed? I attached the pictures. I really don't know if I should just walk away from the deal and loose inspection plus option money ($500) or just don't see it as a big deal. The property is $190,000 in a good location. Any help will be appreciated
Are you looking to buy and hold this property? I think it's all going to depend on what you buy it for. What is it worth to you? What are you willing to offer for it? Just because the sellers are giving it a 10% discount doesn't mean it's a good deal; but you can potentially make it a good deal by offering less and getting it at a lower price.