Price Negotiations with seller after inspection issues

2 Replies

We have an accepted offer on a rental property listed as a turn-key for $540K, which was $40k more than the asking price. The seller also had 2 failed sales within the last year at $530k and $540K, respectively. The inspection report noted a few potential big ticket issues with the house.

1. The AC units are too small to properly cool the house. New AC units could cost us ~5-7K. We realistically could get away putting window units in to assist the cooling.

2. Roof is at life expectancy. Nothing specifically wrong with it yet but we expect  ~$7-10K expense within the next few years.

3. Garage door is installed completely wrong. Approximately 1K in related expenses.

4. Miscellaneous other items (i.e. loose faucets, some outlets not working, sliding back door jammed, etc)

The seller offered us a $5k credit, however we think it should be much higher (around 10K). Do you think that is a reasonable ask given the circumstances mentioned above and any recommendations on negotiation techniques?

@Matt DelMauro I never understand why people post stuff like this. Who cares what BP thinks, only matters what the seller thinks. Counter at 10-15k credit and then see what the seller says. If they stick to 5k credit then it’s up to you if you want to buy it or not
@Matt DelMauro what is the value of the property? If it needs $20k of work, offer $20k less. That's probably the reason the last 2 offers fell through, the owner is unwilling to negotiate. Figure out your number, and stick to it