Seller says no engineer report
I made an offer on a property and they came back with an offer today. Their offer still isnt to my satisfaction given the house needs a tremendous amount of work. Sellers have not upgraded on single thing in the house. They currently live in teh house, but house is no where near my living…
I made an offer on a property and they came back with an offer today. Their offer still isnt to my satisfaction given the house needs a tremendous amount of work. Sellers have not upgraded on single thing in the house. They currently live in teh house, but house is no where near my living standards..wait I think ranting. back to the point.
So I tell the broker I will pay for an engineer report before I go in with a counter. She said that seller might not agree to that. I live in a new co-op building, and never bought a house. Is teh seller doing something normal, or is this a sign that I should stay away.
Bob Marvin is right on. When you are buying a house you plan to gut renovate, the engineers report is really only to find out if you are missing something structural which is very serious. Even then you may still have rotted beams when you open the ceilings. But I have had 3 or 4 of those reports done in my house buying years. The first one freaks you out. After that, you realize there is almost everything wrong with an old house from an engineer’s report perspective. If you plan to do a true renovation, you need to read the report in that light. As for the sellers, be prepared for them to feel that they priced the house accordingly. I know this is a buyers market, but really unless something very serious is discovered the overall condition should already be reflected in the price. We bought an SRO and didn’t bother with an engineers report because we knew we were doing everything.
We could tell that the house was very level, so we were not terribly concerned. We did have to replace a few beams, but everything else was completed expected and the house was actually in good shape structurally.
Good luck
When I bought my house, an “as is” fixer upper, I knew that the report would read bad and I was only concerned with serious structural problems that might make the purchase impracticable. Fortunately, there were none. I didn’t need an engineer to tell me that I’d need a new roof, wiring, plumbing etc., but I did want some reasonable assurance that the house wasn’t about to collapse.
I agree with what DIBS said. You make an offer contingent on an inspection, you agree to the offer, you get the inspection. Never, ever buy a house without an inspection.
As for specific inspectors, Joe is very good with structural issues. I also recommend Tim Curran of Safe Haven, who is familiar with old houses and the costs of pretty much everything.
Call Joe Pasaturo
http://bstoner.wpengine.com/forum/archives/2008/08/home_inspection_2.php
Like the other posters stated, he will tell it like it is, warts and all (he will focus on the warts). Brokers hate him, but he’ll give you all the info you need.
It is my experience that you usually go in with a counter offer contigent on an inspection – Not the other way around.
That may be why the Broker is resistant, it is easier to negotiate when you say I will offer X contigent on inspection. Why would the sellers agree to an inspection when they havent even agreed on what the offer would be absent unidentified issues an inspection may bring up?
Even an knowledgeable experience home buyer should have an experienced impartial engineer inspect before purchase. A professional may spot serious potential problems that a buyer could overlook. I have never heard of a seller refusing such a request. It will benefit you greatly to be there for the inspection and to ask questions.
i second designer’s comments. an engineer report on a fixer-upper will sound like the house is about to fall down. be sure and walk through with the engineer when they make the report and you can ask questions, it will give you better perspective on the report they submit.
The offer should be made contingent upon an “inspection.” Whomever you bring in as an inspector would be up to you. Walk away if these terms are not acceptable and tell the broker to shove it up his/her ass.
designer has a point….be prepared to be scared by the engineers report, especially if you are a first time house buyer. it is their job to point out every little thing that is wrong and the list will be lengthy. You have to be able to acertain what are the major issues (if any) and how much they will cost.
you should chat with your attorney about it, but that’s exactly what we did when we made an offer on our fixer upper. Our sellers were a lot more open though- and they let me in with multiple engineers and contractors before we finished negotiations…