Saturday, December 12, 2009

I've Not Suffered Death by Paperwork (Yet)

Buying a home has turned out to be a bigger pain-in-the-rear than I had imagined. Our offer was accepted on November 30th. The inspection, however, revealed problems with the roof, siding, and foundation. The good news is that the structural engineering inspection found that the foundation issues are minor. The bad news is that the roof and the siding need to be replaced. During our initial negotiations, the seller had forwarded an appraisal done in mid-September claiming that the roof, siding, and foundation were all in "good" condition. Since this turns out NOT to be the case, we're attempting to negotiate a fairly hefty price cut. We're willing to eat a certain amount of the cost of the needed repairs but not all of it. It remains to be seen whether we'll be able to come to agreement on a fair price for this home given its current condition.

1 comment:

Henry Cate said...

Good luck.

Any chance you'll be able to negotiate a lower price also based on the drop in the economy?