how you fix your new home.
Some of the common problems that should be considered include the roofing part, replacing the pipes, fixing any leaks, sewer lines repairs, and the requirement for new wiring for any 30- to 50-year-old houses.
WHEN TO WALK AWAY
Professionals say you should cancel the deal if you can’t buy the house you want, on the conditions that you want, and for the money that you have. In a buyer’s market, the seller will negotiate on minor repairs disclosed by an inspection long before the thought to walk away hits you. However, some repairs are just not worth it. If the problem that the homeowner refuses to fix or pay for to fix is dangerous and you can’t fix it, then it’s time to walk away. If there is “knob and tube” wiring from the 1950s in the basement that the owner will not remove and rewire, or adjust the price accordingly so that you can do it yourself immediately upon assuming ownership, walk away. You don’t want to endanger your family, and not even that otherwise-perfect Victorian house is worth it. If the problem is something you need to fix soon, but is too expensive for you, then walk away. If the issue is likely to cause a chain of other problems and is hard to estimate how much it will cost, walk away. Consider the pros and cons carefully and listen to your real estate team’s advice. They are usually more experienced and may explain to you the advantages and disadvantages better than anyone else. Also, listen to your own gut. If the doubts and uncertainties are too anxiety-provoking, it might be better to turn it down and start over.
103
Powered by FlippingBook