Renegotiating offer after home inspection - Chevelle Tech
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post #1 of 25 (permalink) Old May 6th, 08, 2:17 PM Thread Starter
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Renegotiating offer after home inspection

Made an offer to a buy a house and our home inspector found a couple of things we were unaware of (guess that's the point of the inspection) so it looks like we'll have to renegotiate the price with the seller or request they remedy the problems.

- Inspector found several double tapped breakers in the main panel (150amp service), think there were 6 to 8 double taps, and recommended getting a sub panel installed or larger panel. This is a safety issue we want to bring up to code. Anyone have any ballpark cost estimates to fix this?

- Inspector found elevated levels of moisture on the garage walls. The sellers had been washing there cars in the garage, apparently the walls are regular drywall, not moisture/mold resistant greenboard. Another inspector is going to check for mold. The walls don't look horribly bad but without tearing into them we really have no way of knowing the extent of moisture damage inside the walls. We feel the drywall needs to come down and be replaced with greenboard. Anybody have any cost estimates for putting up greenboard in, say, a 20x40 garage?

We can request the seller fix everything or ask for money back, but at this point I have no idea what this costs. We're crunched for time with the way the dates are in the contract.

Appreciate any advice
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post #2 of 25 (permalink) Old May 6th, 08, 2:29 PM
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Re: Renegotiating offer after home inspection

I just went thru this with a house we are selling. The buyers asked for a breaker box to be moved and breakers updated, the dishwasher replaced and some workdone on the roof and a few ther things. We agreed to pay for the repairs to be done beofre the final inspection before closing. The electrical work cost us 350.00. I personally would have asked for the cash amount to cover the repairs so I could make sure they were done the way I wanted them but they ust asked for the repairs to be done. I think it would help with your time crunch too. Have the sellers get estimates for the work you choose to be done and ask for the dollar amount at closing.

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post #3 of 25 (permalink) Old May 6th, 08, 2:31 PM
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Re: Renegotiating offer after home inspection

Your 3rd option, which I did with a leaking roof, is to get your estimates, and have the seller but the money into escrow. Then get the work done, escrow pays for the work and the seller gets the change back. If you're not out to milk as money money from the seller as you can, this can be a more attractive solution to them.

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post #4 of 25 (permalink) Old May 6th, 08, 2:52 PM
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Re: Renegotiating offer after home inspection

When I had my house inspected it came back with several double taps as well, but the inspector said I have one of a few Square D boxes where double taps are okay to have, so it passed inspection on that part.

Get the money or have it escrowed and get the work done yourself, this way you can choose who does it and make sure the job is done right.

Big D
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post #5 of 25 (permalink) Old May 6th, 08, 3:01 PM
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Re: Renegotiating offer after home inspection

I'm with the others - get the estimates and have the money deducted from the purchase price or have the seller place money in escrow for the repairs; this way you can ensure the repairs are satisfactory and to your liking.

When I purchased my home, I had several issues crop up on the home inspection; the end result was a $1500 decrease in purchase price. Since none of the repairs were critical, my thought was that I could conduct the repairs over time as I had the money.

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post #6 of 25 (permalink) Old May 6th, 08, 3:31 PM
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Re: Renegotiating offer after home inspection

i hope you guys didn't act too excited in front of the sellars. they have the right to decline any requests for repairs.....oh, and that escrow thing, hopefully somebody is doing thier job. i made about a dozen calls to make sure a roof issue was excrowed, it wasn't and it took me weeks to straighten it out. by the way, the home inspector was fairly worthless, i'm constantly finding issues that should have never made it threw insprction. i know this, because my wife works for building and safety in our city. sooo....if your inspector was good, the escrow people do thier job, and the sellars agree to repairs, it might be the way to go. i think i'd have them do the work, and have it reinspected....

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post #7 of 25 (permalink) Old May 6th, 08, 4:04 PM
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Re: Renegotiating offer after home inspection

Quote:
i hope you guys didn't act too excited in front of the sellars. they have the right to decline any requests for repairs.....
Thats true, but in this housing market I'd be shocked if a seller is going to scuttle the deal over a few hundred dollars maybe a thousand in repairs.

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post #8 of 25 (permalink) Old May 6th, 08, 4:12 PM
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Re: Renegotiating offer after home inspection

Greenboard is no longer allowed by the building codes, it is not water resistant, it just takes longer to get moldy.

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post #9 of 25 (permalink) Old May 6th, 08, 4:28 PM
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Re: Renegotiating offer after home inspection

Some breakers allow "double taps" but I would think your inspector checked that.
Anyway all that needs to be done is to wire nut the two wires together with a pigtail and connect only one wire to each breaker. (assuming the breaker is sized correctly according to the wire)
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post #10 of 25 (permalink) Old May 6th, 08, 11:49 PM
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Re: Renegotiating offer after home inspection

If the walls have no major visible signs of mold (in the garage) i'd leave them alone, perhaps use it as a point of negotiation, but wash them lightly with a water and bleach solution, let them dry out really well, put some fans on them, and then prime and paint with a semi-gloss, caulk the base and corners and leave it alone... if there's mold behind the walls, why disturb it? drywall is fine in the garage, its the carwashing thats the problem!! if you are looking for a more durable material that is mold resistant, use hardi-board...much much more durable than drywall...

no one has put their guess on the costs, i'd say about $5-600 for a sub panel upgrade, and about $3000+ to R&R the garage drywall... but once you strip the garage, depends what your local regs are for mold remediation, if you have to glove-bag moldy drywall add another $1500-2000 to that price...and since you have the drywall off, run some more wiring for power, add some lights, retape your vapor barrier...

ak
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post #11 of 25 (permalink) Old May 7th, 08, 12:17 AM
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Re: Renegotiating offer after home inspection

You don't need a sub panel for safety, you just need to do exactly like Dean said, put the two wires together with a wire nut and put one wire under the breaker. This shouldn't cost more than $100 or so, as it is just a 1 hour service call. You certainly can get a subpanel, but if I were the seller I would deny it, as it is not needed. The better situation would be a sub panel, and that would run around $500 maybe, I could do it for less. Material wise you are only looking at about $150 tops and maybe two hours labor or so, if I take my time.

Jeff

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post #12 of 25 (permalink) Old May 7th, 08, 9:45 AM Thread Starter
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Re: Renegotiating offer after home inspection

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Originally Posted by 1BLACKHARLEY View Post
i hope you guys didn't act too excited in front of the sellars. they have the right to decline any requests for repairs
That's the problem, after paying for a home inspection, radon inpection, and a mold inspection we've already paid over $900 for inspections and still don't know the extent of the moisture/mold damage inside the walls. What's inside the garage wall is shared with the living room, and the attic and basement also have moisture and mold. Without paying more money to try to get a cost estimate for repairs, and it's doubtful any contractor can give us a full estimate without tearing into the walls, we have nothing but uncertainties. Our agent already told us we can request the seller make repairs or renegotiate price to get some money back, but they most likely won't settle all of it. Which leaves my wife with a very unsettling feeling about the purchase. We can't accept the house "as-is" and don't think it's good option to request the seller make repairs or renegotiate. We think our best option is to terminate the agreement based on the inspection contingency and the inspection report. We were present at the inspection so we've seen things firsthand, at least what can be seen.
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post #13 of 25 (permalink) Old May 7th, 08, 10:24 AM
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Re: Renegotiating offer after home inspection

in this market, i'd move on. i don't know if you have time issues, but buying a home that may become a nightmare, is not an option.

keep looking, there is a reason this is happening. next home you find, negotiate that the sellar pay inspection, if the place is clean, your in. if you have to rent for a year or so till you find your dream home, it's better than rushing into a mess. good luck, i know you'll find something better...

1BLACKHARLEY
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post #14 of 25 (permalink) Old May 7th, 08, 11:38 AM Thread Starter
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Re: Renegotiating offer after home inspection

Exactly
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post #15 of 25 (permalink) Old May 7th, 08, 12:22 PM
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Re: Renegotiating offer after home inspection

I would throw a dollar amount on the table, and at least give the sellers time to respond. The offer will be accepted,rejected, or countered. It is obvious you and your wife have spent alot of time looking for the right house, and you would not have put an offer on the table if you did not really like this one. Give the sellers 24hrs to respond, if they dont offer enough cash back to cover all of the repairs done correctly, then move on. You never know just how desperate they need to sell this home, and are willing to renegotiate the selling price. FWIW, this happens every day in real estate, it is quite common, and I have had my share of experience with it as well
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