seller to cover the costs of the repairs, but another option is walking away. Sometimes, the repairs are simply not worth it. For example, if the problem that the homeowner refuses to fix, or refused to pay for to fix, is dangerous, and you can’t fix it, then
it’s time to walk away. If there is outdated electrical wiring from the 1950s that the seller will not remove and replace, youmay decide the time, energy, and costs involved are too much hassle — even if the owner agrees to a lower asking price — and walk away. Plus, you won’t want to endanger your family. While “you might cringe at some of the current owner’s
wallpaper choices, cosmetic issues are relatively easy to fix compared with a vintage electrical system that’s one spark away from a fire,” says Cathie Ericson of Realtor.com. Other major red flag issues include sagging floors, cracks in the wall, or roof or drainage issues, says Christopher Bourland, senior appraiser at Mid-Atlantic Valuation Group (Wayne, PA). These are structural issues, which can “quickly turn your dream home into a financial house of horrors,” says Ericson. Other problems, like pest or mold infestations, can be dealt with more easily, but if the seller isn’t willing to negotiate, such as lowering the purchase price or offering to cover the costs of hiring
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