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Real Estate Deal Analysis & Advice

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Alan Kahanu
  • Investor
  • Kailua, HI
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72
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WHAT WOULD YOU DO - Seller and Inspector Can't find Crawl Space

Alan Kahanu
  • Investor
  • Kailua, HI
Posted Feb 15 2017, 06:45

Hey BP,

Not sure if i'm posting this in the right place on BP but I must ask. I have a signed purchase agreement a local investor is selling on contract, a SFH which I plan for long term rental out of state. Upon completion of a professional inspection, it was noted that the inspector could not locate the crawlspace access in the house or from outside, in addition to several other non-major problems. I asked the Seller for concessions to repair items that by my estimate will cost $2-4k, and also let us know where the crawl space access is. He agreed to the repairs but said they also had no luck and couldn't locate the access. Seller came back wanting to change the language to say 'the seller will make every attempt to locate and open access to the crawl space.'

I have no idea what could be lurking down there and have a lot of hesitation proceeding with the purchase. House was built in 1910 and has had a couple renovations, the latest in the past few months to include flooring and carpeting. This could be an honest mistake of covering the crawl space access or an intentional deed for unsuspecting buyers.

Please share your experience, advice and recommendation.  WHAT WOULD YOU DO - Walk away or continue to purchase?

Mahalo!

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