Inspection: electric panel 100 AMP; thought was 200 and may not get insurance because of it plus issue with electric boiler; ceiling torn out in kitchen due to a leak upstairs possible piping; heat pump has error 1 not working; cast iron hook up to the city that is now obsolete. House was appraised yesterday hoping at $144,000 to receive a refinance of $25,000 20% down. I spoke with my realtor today and said we should negotiate instead he thinks the inspector is off with the reading of the amp panel and wants a buddy of his to check it. He feels we should on ask for $1000 off. Since we are in the middle of COVID 19 as a buyer I am skittish and with such tight margins would like to save as much as possible in case I am carrying a third mortgage( have one rental property townhouse and tenants paid full rent). The conditions are until April 7th? Any advise would be appreciated.
Real Estate Agent · Atlanta, GA · Member since 2015 · 359 posts · 158 votes
6y
I always negotiate after an inspection regardless what it says. I think the seller would be extra motivated to work with you. I would be more concerned with the inspector who thinks that panel is off. If the inspector was wrong, then you should ask for your money back. If the inspector is right, you should ask for a minimum of $3500
Thanks Josh, I am going to ask for $5000 off due to repairs and carrying cost. They can take it or leave; I'm the only one in 9 weeks who placed a bid on this property, let's see what they'll do.