After wrangling around while the seller's broker (bank-owned) finally got the CO and approved for single family residence, had a property inspection yesterday.
The building is 21 years old. I already knew the roof/plywood sheeting needed replacement in near future. I also knew the large deck had a limited future lifespan. ANd they disclosed it had been treated for mold.
But when going around with my hired inspector looking for issues, BOOM !!!!
Boiler is bad (estimate $12,000). Only has baseboard heat left
Northern foundation has badly separated by nearby trees (est $5000)
In crawlspace, main support is cracked (est $5000)
There is essentially a small stream and standing water and thus mold everywhere, in crawlspace. (est $10,000+ to install French drain, unknown to waterproof foundation)
Several ceilings are covered with mold (not black). The crawlspace plus this plus other needed mold remeditation estimated $10-20,000.
Not even including costs to refloor (rugs everywhere) or fix walls for anything they have to rip out.
Deck 3-5 years left but no large crowd. Concrete footers bad and wood supports into ground are soft. $15,000
Roof, as plywood sheeting is bad. $12,000
Sunroom floor and seals bad; there are large moss growths from the heavy condensation. (est unknown)
And I thought ZONING would be my main obstacle. I was floored, and will be discussing with my buyer's broker about a response. Not like seller can hide these things and hope next buyer won't notice...!
The building is 21 years old. I already knew the roof/plywood sheeting needed replacement in near future. I also knew the large deck had a limited future lifespan. ANd they disclosed it had been treated for mold.
But when going around with my hired inspector looking for issues, BOOM !!!!
Boiler is bad (estimate $12,000). Only has baseboard heat left
Northern foundation has badly separated by nearby trees (est $5000)
In crawlspace, main support is cracked (est $5000)
There is essentially a small stream and standing water and thus mold everywhere, in crawlspace. (est $10,000+ to install French drain, unknown to waterproof foundation)
Several ceilings are covered with mold (not black). The crawlspace plus this plus other needed mold remeditation estimated $10-20,000.
Not even including costs to refloor (rugs everywhere) or fix walls for anything they have to rip out.
Deck 3-5 years left but no large crowd. Concrete footers bad and wood supports into ground are soft. $15,000
Roof, as plywood sheeting is bad. $12,000
Sunroom floor and seals bad; there are large moss growths from the heavy condensation. (est unknown)
And I thought ZONING would be my main obstacle. I was floored, and will be discussing with my buyer's broker about a response. Not like seller can hide these things and hope next buyer won't notice...!