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Updated 3 days ago on .

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Edilson Gomes
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After week long of post inspection negotiations, now I’m unsure about the house, tip?

Edilson Gomes
Posted

Hello, 

My last deal fell through 2 weeks from closing because the house didn’t appraise and sellers didn’t want to budge on the price. 
Put an offer on another home that had been on the market for 10 days listed at 575k. The house was definitely overpriced because roof and boiler was at the end of their useful life. Also kitchen needs to be gutted and remodeled completely. My offer was accepted at 30k below asking price. I was happy about this but then the sellers disclosed underground oil tank on the day of the inspection, found out that half of the house’s backyard falls is wetlands that is part of a conservation area and high radon level in the well water. There were other issues also flagged during the home inspection. 

They addressed the oil tank but a week later now it feels that I’m overpaying for the house since my offer was accepted at that price and I didn’t know all these issues existed. The house has been in the market for 20 days and was never listed as contingent. Considering we didn’t have a biding contract, it’s fair to assume they haven’t gotten any better offer. Now that we have a repair addendum signed but the seller, I feel like I’m making a mistake. Is this because of the dragged out high stake negotiations or my feelings valid? 

I feel like I’m overpaying for a home that’s already bringing a lot of issues. The average average price per square foot in the area is around $300 and we’re going to pay $320 at this price. My current debating if it would be better buying a cheaper house that I can fix since I’m going to have to work on this house as well. 

I know it’s a long post but just looking for some neutral guidance and advice on how to make a decision.