Pre-contract inspection revealed several issues- what would you do?
We had a pre-contract inspection done. The inspector identified and line-itemed $87k of issues that need to be fixed, stating some as critical and others as potential. (Heimer Inspectors). The biggest ticket items seem to be: – old plumbing system- needs update – old sewer system- needs update – needs new roof – stair risers…
We had a pre-contract inspection done. The inspector identified and line-itemed $87k of issues that need to be fixed, stating some as critical and others as potential. (Heimer Inspectors). The biggest ticket items seem to be:
– old plumbing system- needs update
– old sewer system- needs update
– needs new roof
– stair risers all uneven so we need new stairs
– evidence of leaks in basement which need to be addressed
How does a buyer typically address this with the seller? This is an old home, like almost all homes in Brooklyn- so are these problems customary?
Also, it seems that all old homes would have old sewer and water pipes- does the owner just take the risk that they are not living there when they finally break? Or do most owners try to replace them? And when buyers buy homes that have not been updated as such, do most negotiate this into the price?
Any advice would be appreciated. I’m particularly curious as to what other people do, as some of these items seem to be ones that would surface on any pre-contract inspection of an older home.
Heimer found many similar issues in our house: plumbing, electrical, some rotten joist at the back of the garden floor, and many many other more minor things. Their estimate for repairs was $35000. However I was with the engineer during the inspection, and he thought the house was in pretty good shape, and that those findings were common for a brownstone.
Now whether or not you should use the inspection report as a negotiation tool depends on many factors. We decided not to ask a price reduction, because we thought the price we offered before the inspection was already a good deal and took into account the less than pristine condition of the house. You need to be familiar with comps for similar houses in the neighborhood. Also at this point of the process you should have an attorney involved, and if he has experience with brooklyn brownstones, he may be able to advise you whether or not you can expect a price reduction from the seller. Our attorney thought we were getting an excellent deal and advised not to try negotiating. Also the seller was getting another offer, and we really wanted the house… But keep in mind that this was a year and a half ago, and the market may have changed.
Then after we move into the house, we did not want to do all the work recommended by on Heimer’s report, we didn’t think it was necessary. We had a good plumber and electrician to look at the house and determine was what truely critical, and we did a few thousands dollars of work. Now, after a coat of paint the house is totally livable, and everything else will be done gradually.
Another thing you need to know is that after you move in the house, you WILL find additional issues that the inspector could not see during a simple visual inspection. But that risk exist for any old house, and is worth taking. Good luck!
Better yet, ask for 35k off and negotiate from there.
You should at least be able to get credits/repairs for the roof & the basement leaks. Being that you are pre-contract this is the best time to re-negotiate. Heimer’s figures are always way over what you will actually pay for the repairs. I would ask for 10-20k off depending on the price etc. Good Luck.
Rehab- this post is real. And I agree that there was no misrepresentation. However, this home has been recently gut-rehabbed so we assumed some updating was done (although it hasn’t been). I just wanted to know how others addressed these topics when going into contract on a home. I don’t find that such an absurd question to ask.
If this post is real–and I hope it’s not–just this point: Aside from the obvious fact that old houses have old stuff inside them, the inspection is not the time/place to renegotiate unless you discover significant problems that were previously unexpected or concealed. Unless the seller represented to you that the house had been redone with shiny copper pipes, old plumbing does not count.
If you do NOT want a house that needs work, don’t buy. If you are willing to put in the time and money to give the place some TLC, use it to negotiate a lower price (unless the place is already priced appropriately for a house that needs work) and plan on making it your own! Good luck.
Definitely still attempt to negotiate, especially if you are the only offer so far. Did anyone give you recent comps in the neighborhood to use as a comparison? Ask your realtor or attorney to find some for you, or look on the various websites people reference here, to get that info. Good luck!
Thanks 1:19. I did get the feeling that most of these were just normal things that pop up on everyone’s list. I just wondered how people typically address them. Do they try to negotiate? Do they not? Etc. Thank you!
I have never heard of anyone buying a house in Brookyln that did NOT need all this work done! These are very typical items on an average renovation, when buying a house from an older, longtime homeowner. If you buy a full updated house you’ll pay more than $87,000 more for the fact those renovations are done. Do try negotiating with the seller to lower the price. But don’t feel entitled to the lower price; the seller might very well say “no”.
In my first home, I lived with old pipes a couple years before replacing them. No biggie. Have a plumber fix the immediate potential breaks or issues, and you can wait to replace all the plumbing and/or electric. We’re replacing electric gradually right now in our current house, not all at once. You do NOT need to remove the walls to replace plumbing and electric. My people did it by making small holes everywhere in the plaster. Contractors here in Brooklyn insist you have to remove all the walls only because it makes their job easier, and they make more money off the job. It’s not a necessary thing at all.