Bad inspection report on home under contract...

[Emanuel Eyssallenne]

Hi All,

I finally got one of my offers accepted!  Very excited because this is my first home.  The inspection report came back with 73 items to be addressed.  Maybe 20 or 25 items are a little serious like "minor cracks in foundation" not able to see if GFCI protection is installed in hot-tub/spa bc the build is obstructing view.  No entry points to attic and it has space higher than 30 inches in height. Termite damage and an inactive beetle infestation.  There is some wood damage.

I have never gotten this far yet, so I feel a little disappointed that this property came back w a bad report.  But I am inexperienced so not sure if my disappointment is even valid.

What do you think?

[Michael K Gallagher]

@Emanuel Eyssallenne congrats on jumping in! what a huge move! Here in Ohio we don't normally see "due diligence" money just the earnest money so I'm not too familiar with the specifics around getting it returned to you, but in my experience since those issues are now known the seller will need to disclose those issues to anyone else.  So if I'm the seller I'm still going to try and work with you, the deal thats in my hand, given that you know about all the issues. Might be worth a call to the seller once you have the quotes back to discuss how to handle things...perhaps they don't want to price to come down but they'd give you credits or cash at closing for the repairs...depends on their motivation and its usually worth asking.  

Keep us updated on the progress!