Negotiation after inspection

[Assad Oskuei]

Hello everyone, My first renal property investment. 

Had inspection done yesterday. 

1) The roof is 15-20 years old. A few broken shingles here and there, curled up shingles, damaged skylight frame window.

2) Mold noted on the basement walls. 

Its a 5400 sq 3 unit MFH. Built in 1930. 

Would you get a GC and give you an estimate of repairs and ask for credit based on that? Do I have any negotiating power here?  Would you get a mold specialist? 

Thanks in advance.

[Mitch Messer]

Hey @Assad Oskuei! When I read this my heart fell: "A mold inspector came by and said they can remediate it for about $1800."

That person was not a mold inspector; they are a mold remediator. You cannot expect to get unbiased and objective information from some whose entire livelihood relies on the presence of mold.

I'll say it again: Get an actual mold inspection done by an independent testing company that does not perform remediation to determine the severity of the issue.

(Honestly, at this point I'd make the seller pay for it, since there is visible mold, but nevertheless get the report!)

Remember, as long as you're within the agreed due-diligence period, this is the seller's problem, not yours!

Negotiate accordingly.