What's a fair offer for a house that needs major repairs?
February 14, 2007 2:10 PM Subscribe
My wife and I put in an offer on a house for $187,000, which was accepted by the sellers. However, the inspector found a major problem that will cost about $22,000 to fix.
What's a fair counter-offer given this problem?
posted by jay_wiese to Home & Garden (30 answers total) 4 users marked this as a favorite
House is a 3/2 built in 1958.
Here's what needs to be done, according to one contractor:
>Scope of work:
>Demo interior bathrooms, removing all fixtures, interior walls and tile,
>removing floor/subfloor, inspecting all electrical wiring and plumbing.
>Remove all construction debris
>Installing new sub-floor in both bathrooms, install imperial board with
>textured plaster finish, new tub in hall bath, new light fixtures, new
>contractor grade tile, (white or bone color), tile work includes tub
>surround and walk-in shower and ceramic tile for the floors. Install new
>commodes, 4' vanity with a single sink for the hall bath and 24" vanity for
>the master-bath. Vanities with cultured marble tops would be procured
>from local distributor, (contractor grade selection, any custom build or
>difference in price of customer selection would at owner expense above
>contractor price). Prime and paint interior walls with paint matching, (as
>close a possible to current paint scheme).
>Any electrical or plumbing work will be done by licensed contractors, all
>sub-contractors names and phone numbers will be given to owner upon
>completion of project if requested.
>Total price including materials, labor and permits:
>$22,500.00 (twenty-two thousand five hundred dollars)
Other than that, the house is still in relatively good shape.