What is reasonable Deferred Maintenance?
Hey BP fam,
So I'm in contract to close on a 7-unit bldg by the end of the first month..first deal, hopefully.
Had the inspection done and there is clearly work that needs to be done in the $5-$10K range, incl some work around rotten wood, leaky pipes/faucets, holes in doors/walls, small amt of mold in bathroom, sump pump drain issues, bathroom fans routing into attic causing moisture issues...etc. Many other small/trivial repairs.
For a $250K purchase price on a 7-unit in a B- class neighborhood, what is considered a reasonable deferred maintenance that I am expected to assume vs. the Seller to fix or credit? Of course, Seller being incredibly hard and insisting that for an 'as-is' deal its no repairs at all. I'm considering ending the deal on this matter but don't want my pride getting in the way of closing a good deal.
thoughts?