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Reply to "Would you pull out of this deal? "
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[quote=Anonymous]Personally, I would walk away. That's quite serious damage, and you don't know how far it goes. Just as important, it shows you that the sellers haven't maintained the property well. Who knows what other issues are lurking. All of that said... if you did want to stick with the property, I think that *could* be reasonable, but you'd need to make sure you fully provision the cash and time for repairs. An option you might consider is setting up an escrow account, which receives a significant amount (say $50k) of the purchase price. You could then draw down the escrow account to complete repairs and the sellers would receive the balance. I wouldn't try to ballpark the cost of repairs up front, because you have no idea how far this damage goes.[/quote]
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