Home inspection, negotiate further or back out?

Question

Offered accepted on what will be a BRRRR deal for me, just had home inspection done today and it’s a little worse than I expected.

Any tips on going back to the negotiating table? There are some structural issues, a few sections of floor are rotted, some mold in drywall where there is water possibly leaking down the wall, and a ton of water in the crawlspace that will need some sort of drainage installed

Or should I just walk away from the deal? I would just be out my inspection money and $500 earnest money￼￼ and I’m not a fan of doing that and upsetting my realtor, but at the same time don’t want to get into a money pit

Thanks in advance for help/advice

Stephen Brown · Answer

At the end of the day, if the property is so bad that you can't make money from it, why would you buy it? Negotiate lower or back out my man! Your realtor shouldn't be upset if you back out. When my clients want to back out... I am happy for them! I don't want someone to lose money on a property they aren't 100% on. Do what's right for YOU not your agent.

Cory Lucas · Answer

@Stephen Brown and I appreciate that. I know the guy on a personal level. Don’t want to make him look bad or anything too

Appreciate the advice for sure. I’m still torn on the property, I feel like it’s good, but I could also see how I could be getting into something that may be a trap