Buying First Home - Inspection Follow Up Advice
My wife and I are under contract to purchase our first home. We had our inspection today and I am looking for some advice from those of you who are more experienced and wiser in this arena than I am.
Here is some background info:
Owner purchased home in 2009 for $115,000
Owner put on a $8,000 roof in 2012
Home is in Rural Western, NY, village with fairly stable real estate values but some rise has occurred in last few years
Owner listed for $125,000, we offered $112,500, she countered at $117,500, we have purchase agreement at $115,000
We like the home. Perfect street, great bones, near family...
The inspection noted the following items that I will either be asking the owner to fix or fixing myself in the first year or two of ownership:
Two Crawlspaces over dirt are not insulated properly and old batts have fallen out of floor joists
Fireplace needs to be repointed
Chimney needs to be repointed (not all of it, just a portion above the roof line)
All facia boards and soffit boards (not a ventid soffit) need to be scraped, primed and painted (they're peeling/flaking badly) - Some need to be nailed or replaced as well
About 100 sq. ft. of cedar shakes on garage need to be replaced
Attic Insulation is installed improperly and needs to be removed/replaced
***There were a number of other items that I have no issue with any plan to take care of myself***ie: pocket door off track, some outlets were converted to three prong when they need to be two prong or gfi because they aren't grounded, some downspout placement issues, sticking doors...
So, given these details, I am curious what of these items (1) the lender might require to be fixed (assume USDA/FHA Mortgage), (2) you would require the owner to fix in order to the deal to go through and (3) which you would say "I am buying a 95 Year Old House at a good price and need to fix myself"
Thanks for any advice you can give me.