1969 ranch/rambler home purchase

13 years ago

We just got the inspection report back on a 1969 house we've made an offer on. The house is very well maintained above the crawlspace, but a few issues came up that my husband and I are not too happy about.

1) The house was built with galvanized pipes and after 41 years there is rusty water coming out and noticable loss of water pressure when more than one faucet is running at once.

2) The heating ducts under the house are sagging open and in one spot a coffee can has been used to replace a heat duct section (I'm not kidding).

3) The hot water heater is 17 years old and leaks slightly at the top. The original warranty was 5 years.

Our closing costs are $5000. Would it be fair to ask the sellers to pay our closing costs in lieu of renegotiating the price? I don't want to be nitpicking, and they did just install a new roof, but I think the above items should be in better shape.

There were a lot of other items on the inspection that were just not required by code in 1969 (GFIs, smoke detectors, chimney cap, only four foundation vents, etc.) that we're willing to fix or add ourselves, but clean, clear water should be a given.

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Comments (8)

ncrealestateguy
13 years ago
I believe the only way to get rid of the rust is to replumb the entire home with PEX... a big job.
The duct work and water heater should be performing the function which is intended. It is not and you are well within the norm to ask for these to be repaired/replaced.
I would advise my clients to ask for all three, knowing that they probably will not replumb the house. If they refuse, you can accept as is, renegotiate the price, or back out of the contract.
guvnah
13 years ago
I'm sure you offered a lower price due to the age of the home alone & the fact that you probably anticipated some issues in a house that old. I agree with ncrealestateguy. I'd ask for everything & see what shakes loose. You should definitely get something from them: repairs or money off. Unless you're getting the house for a steal to begin with.
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mariend
13 years ago
The other thing not mentioned is asphalt, lead in the pipes, as your house is built before the cutoff date. This is very important to your health.
weed30 St. Louis
13 years ago
Would it be fair to ask the sellers to pay our closing costs in lieu of renegotiating the price?

From what I understand, (experts please step in here!), "Seller pays closing costs" doesn't get you any benefit other than bringing less money to the closing table. How it has been explained to me is that the closing costs are "paid by the seller", but that amount of money is part of the loan that you will pay for the next 30 years. If that is correct, then it would be better to ask for $xxx.xx in the Inspection Notice part of the negotiation.

Again, experts please step in to explain this better then I did!
Billl
13 years ago
Items that are "standard for the area" are already priced into the sales price and that of comparable homes. You can't take 2 identical 50 year old houses and say 1 sold for 150k but the other should sell for 150k minus 5k because it had "old pipes."

Actual defects are another matter. A leaky water heater is a safety concern and needs to be replaced. A heating system should be functional in every way, including the duct work. It is a pretty inexpensive fix though - some screws, maybe a couple hangers, some tape, and a few feet of new ducting.

As for the rusty water, galvanized pipes rust. There is nothing the homeowner can do short of replacing the entire plumbing system in the house. That is obviously a major expense.

re: weed30 - no, you have that wrong. Closing costs are paid to the lender and other professionals you use in closing - appraiser, lawyer etc. Somebody has to pay them. There are 3 options. The seller can agree to pay them out of the proceeds of the sale. The buyer can agree to bring money to the table to pay them. Or, the lender can agree to add those costs to the loan principle and pay the cost upfront in exchange for 30 years of interest.
lisakk
Original Author
13 years ago
Thanks for your feedback.
We decided to ask the sellers to either repair the heating ducts and replace the water heater or credit us the amount needed to do that.
We got a quote from a plumber to replace all the pipes under the house for $2800. Since we're going to update the kitchen and bathrooms anyway, we will absorb the cost of the repiping.
Hopefully the sellers will see this as fair and accept the deal!
ncrealestateguy
13 years ago
lisakk,
Be sure to use the fact that you are willing to have the pipes replaced at your expense, IF they are willing to replace the water heater and repair the ductwork. Presented this way, it is a win/win situation, and that is what closes deals.
Good job.
totsuka
13 years ago
Did they do a radon check? If not, do it.