Anonymous
Post 09/25/2023 16:44     Subject: Would you pull out of this deal?
It's going to cost far more than $10-15K do remediate and fix the floors and who knows what else they find. Not a deal and that Black mold can cause serious health issues.
Anonymous
Post 09/25/2023 16:41     Subject: Would you pull out of this deal?
Get out now. You are seeing the tip of the iceberg. Water and mold find their way into every nook and cranny, spores spread, etc. Take the estimates you get and double it for a more realistic idea of what it will cost.
Anonymous
Post 09/25/2023 16:41     Subject: Would you pull out of this deal?
Where is all this water coming from? It's one thing to rebuild a subfloor, but where's the leak? Plumbing? Roof? And you'll have to regrade the yard to stop it from seeping into the basement. Unless you can get a $50k discount on the house, run away now.
Anonymous
Post 09/25/2023 16:35     Subject: Would you pull out of this deal?


If it's heavily discounted to reflect the repairs and hassle, you could still buy it.

But get someone out to quote you repairs before the sale if you want to go that route.
Anonymous
Post 09/25/2023 16:33     Subject: Would you pull out of this deal?
Yes, run fast. I'd worry about the floors and basement as expensive fixes. They need to put a sump pump in or soothing else to fix the mold issues.
Anonymous
Post 09/25/2023 16:29     Subject: Would you pull out of this deal?
Anonymous wrote:
Anonymous wrote:It depends. If you are getting a good deal and house plus location are good, compromises have to be made and you can absorb the cost.


Op here: we are first time home buyers. It’s a 4 bedroom, 1.5 bathroom house. Originally listed at $428k but has sat on the market since February. It slowly was lowered down to $390k and we offered $365k which got accepted. It’s in an area we love (small town, kinda rural but not middle of nowhere). But I’m totally turned off by this mold and how bad the subfloor is but neither of us have any idea of subfloor repair cost, we were just told the whole subfloor from kitchen to bathroom needs to be re done. The mold remediation we were told $10k minimum.


OP, I hate to burst your bubble, but theres a reason a $365k offer was accepted on a $428k list. I don't know the market where you are buying, but its been hot enough for a good house to get snapped up.

Take a good hard look at your budget for remediation and future remediation if mold grows back.
Anonymous
Post 09/25/2023 16:22     Subject: Would you pull out of this deal?
If remediation/repair is even a consideration, OP would need 3+ quotes for all work as detailed on the inspection report. Even with quotes in hand, expect the home repair/improvement projects to exceed timelines and budget. Hope they won’t; expect they will.

It should be noted: "husband seems to think these aren’t 'super major' issues". Water issues are "super major" issues. I question wisdom of getting involved in significant remediation/repair projects given the reaction to the inspection.
Anonymous
Post 09/25/2023 16:14     Subject: Re:Would you pull out of this deal?
I would walk. If you choose to move forward, you can request that money for repairs is held in an escrow account since you may not know the full extent of the repair cost as it's just an estimate and who knows what else will turn up.

My mom had some water damage to a basement from a flood and she didn't realize an area was damaged until mold had grown. She paid for remediation but a few years later, mold started growing back in the same place. Has anyone ever done remediation before and it worked?
Anonymous
Post 09/25/2023 16:13     Subject: Re:Would you pull out of this deal?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Invoke the inspection contingency. Void the contract.

I want to back out of this deal but my husband seems to think these aren’t “super major” issues.


Your husband needs his head inspected.


Op here: trust me, I get it. I think because it’s “just the basement” he doesn’t think it’s HUGE but I feel like mold isn’t something to mess with and it absolutely has to be spores spread in the air upstairs etc


Your gut is right.

Water is a nightmare.


Did you not notice this when you toured the house? Didnt your agent point it out?


Not OP.

The damage was detailed on an inspection report that OP wisely ordered as part of an inspection contingency.
Anonymous
Post 09/25/2023 16:12     Subject: Would you pull out of this deal?
Anonymous wrote:
Anonymous wrote:It depends. If you are getting a good deal and house plus location are good, compromises have to be made and you can absorb the cost.


Op here: we are first time home buyers. It’s a 4 bedroom, 1.5 bathroom house. Originally listed at $428k but has sat on the market since February. It slowly was lowered down to $390k and we offered $365k which got accepted. It’s in an area we love (small town, kinda rural but not middle of nowhere). But I’m totally turned off by this mold and how bad the subfloor is but neither of us have any idea of subfloor repair cost, we were just told the whole subfloor from kitchen to bathroom needs to be re done. The mold remediation we were told $10k minimum.


OP if you love the house otherwise then get the real cost of what it take to fix all the issues. Sounds like the buyers are motivated, and clearly they know that if you back out that they will just run into the issue again - so best for them to try to keep you in the deal and not let you walk.
Anonymous
Post 09/25/2023 16:06     Subject: Re:Would you pull out of this deal?
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Invoke the inspection contingency. Void the contract.

I want to back out of this deal but my husband seems to think these aren’t “super major” issues.


Your husband needs his head inspected.


Op here: trust me, I get it. I think because it’s “just the basement” he doesn’t think it’s HUGE but I feel like mold isn’t something to mess with and it absolutely has to be spores spread in the air upstairs etc


Your gut is right.

Water is a nightmare.


Did you not notice this when you toured the house? Didnt your agent point it out?

I would absolutely void that contract. That is not a $10K job and you dont know what is behind the walls. Your husband is wrong.
Anonymous
Post 09/25/2023 15:59     Subject: Would you pull out of this deal?
Anonymous wrote:It depends. If you are getting a good deal and house plus location are good, compromises have to be made and you can absorb the cost.


Op here: we are first time home buyers. It’s a 4 bedroom, 1.5 bathroom house. Originally listed at $428k but has sat on the market since February. It slowly was lowered down to $390k and we offered $365k which got accepted. It’s in an area we love (small town, kinda rural but not middle of nowhere). But I’m totally turned off by this mold and how bad the subfloor is but neither of us have any idea of subfloor repair cost, we were just told the whole subfloor from kitchen to bathroom needs to be re done. The mold remediation we were told $10k minimum.
Anonymous
Post 09/25/2023 15:50     Subject: Would you pull out of this deal?
This is why you did the inspection. Would ask your husband what they could have found that would push him to void the contract? They certainly aren’t going to take up flooring or remove wall panels during the inspection. We did an inspection for a house and the inspector had a meter that could read for dampness- what looked like a small area that was raised on exterior siding turned out to have a massive underlying area that was wet/ damp. Did not move forward with that purchase.
Anonymous
Post 09/25/2023 15:48     Subject: Would you pull out of this deal?
Anonymous wrote:
Anonymous wrote:I will buy it with some discount.


I'll ask for $10-15K discount.


It would need to be on the upper end of that. And don't discount the price, you need the actual cash to pay for the remediation.
Anonymous
Post 09/25/2023 15:44     Subject: Would you pull out of this deal?
Anonymous wrote:I will buy it with some discount.


I'll ask for $10-15K discount.