Asked by Krishna Kothamasu, Amherst, NY • Tue Nov 13, 2012
Recently put in a bid on a house in Getzville, NY. I like the style of the house and the other amentities such as a Gas Stove, Attached Garage, Force Air, Basement etc. and seems to be unqiue in it's layout. Just had an inspection done yesterday and one of the key items pointed out was that the home will probably require a new furnace given that it's 40 years old. The house also needs updating such as new paint, wall paper removal, fixing of dry wall where there seems to have been some mositure coming in and two cracks in the basement (which I am having a structural engineer examine tomorrow). The offered price was $138,000 for the home, was $135,000 but I gave in, and given the possible furnace replacement and other work needed is this house worth it? I am planning on asking the owner for a credit but assuming it'll be a stiff no. Could I walk away and expect renegoiate in a few weeks when the market is stall? or will I end up alienating the buyer?
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