I recently had a home inspected after having my offer on it get accepted. The home is in an up and coming area in West Philly walking distance from a shopping center and near a new train station station that is currently being constructed. Although my original offer price was accepted, I realized during the inspection that there are some mold issues on the ceiling and potentially behind the wall. There are some other cosmetic issues as well but the mold is what I'm most concerned about. Given that there is a possibility that I may have to tear the walls down, does anyone think it's worth it to continue to invest in this rehab property? If so, how do I go about negotiating a lower purchase price or seller's assist to get some additional funds to fix the mold. Any insight on from some experienced rehabbers would be much appreciated!!! Thanks!
Get an estimate on the repair. Then renegotiate the sale. Either repair before settlement or subtract from the cost of the house.
Thanks Kevin...I did get an estimate and I have the full inspection report so I plan on using that to renegotiate the sale price. I dont think the seller wants to repair anything and wants to sell as is, so I will focus on the negotiation of the price and seller's assist.
Hi @Niyi Odumosu , this may not pertain to this particular situation but the book "never split the difference" by Chris Voss who was actually on the BP podcast is a really great negotiation resource. It has a lot of actionable steps and tips.
Thanks @Chris Martino ! I will check that book out.
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