Engineer Question

[email protected] Posted: Mar 12, 2004 01:48 AM

Engineer Question

After you make a BID, and send in the engineer, he lists what the house needs to have done....then this could be used to drop the sale-cost of the house...is this correct? and if sooo what is the $ range that homes have come down on by your expierence...

Thanks

Kelly9904 Posted: Mar 12, 2004 08:27 AM

Re: Engineer Question

We didnt use our engineer report to get our price down (there wasnt anything major found) but we did put in the contract that things have to be fixed before the closing date!

Charly Posted: Mar 12, 2004 09:17 AM

Re: Engineer Question

Well we had some issues - generally the seller can opt to fix it themselves (I don't like that idea - because I'd assume they'd half a$$ the job) or you can ask for a credit.

Although there are some expections - for example they had an unused buried oil tank. This can cause serious issues with dirt contamination if not removed/buried according to state law. Anyway - we told them they had to have it removed ($2000) and the dirt tested or the deal was off. They did!!!

For some of the other items we did get some credits towards the closing (a few grand). For example, damaged hard wood floors.

It's all a negotiation. Just don't bother with the small stuff - that will get you nowhere!

Good luck!

Fran M Posted: Mar 12, 2004 09:22 AM

Re: Engineer Question

The engineer can usually give you ball park figures on anything that has to be done. If there is anything big on the list you can call around for estimates yourself. Use this information to negotiate with the owner to either fix or adjust the price.

HeatherandNick Posted: Mar 12, 2004 09:30 AM

Re: Engineer Question

Posted by Kelly9904

We didnt use our engineer report to get our price down (there wasnt anything major found) but we did put in the contract that things have to be fixed before the closing date!

same for us

LIPrincess00 Posted: Mar 13, 2004 11:56 AM

Re: Engineer Question

We didnt use the engineers report to lower the price either. He told us that nothing needed to be repaired, just that it needed to be updated, which is the reason we are buying this house, so we can make it our own.