Updated over 5 years ago on . Most recent reply
Negotiating for credits
I'm currently in contract for a triplex. Its newly renovated and has been on the market since December. The previous buyer did not push through because he lost his job during covid. When we made our offer at less than asking price, seller counter offered and we met in the middle at a little under asking price. There were also supposedly other offers but the seller supposedly liked us because we have very stable jobs in the Healthcare industry.
After inspection we are planning on asking for credits to
1. separate the water and gas for 2 of the units (listing said it was separate but its not) $7k for water, ?? For gas (pending estimate)
2. fix some minor electrical and venting issues $800
3. fix the garage floor which they covered with wood and is not up to code. Will probably need to level the floor. $2k
4. There is a retaining wall that inspector says is going to fall in the next 10-20 years and is held up by long metal tubes that looks like its rusted. To get this fixed its about 30k. --- Can we ask for credit for this or is it going to scare off/ anger the seller??
FYI this is my first deal and we will be living in one unit and extended family will be living in the 2nd unit (paying rent).