Recently I had an investor that had worked out a pretty sweet deal on a duplex in the Kansas City area. Sweet that is as far as we could tell.
Now I’m pretty experienced at spotting potential problems. Furnaces, basements, roofs, etc. Heck, I even know what a mud tube looks like and can spot suspect wood damage. But inspecting homes everyday is not my gig. That’s why I encourage the hiring of a reputable, professional termite guy. Especially here in the Kansas City area.
Getting back on story, I knew or suspected I knew, that the house had termites or had had termites. I even conveyed this to the buyer and showed him why I was suspicious. We kept that in mind on the offer and assumed a $1,000 or so in repairs.
Hold the phone. After the termite guy gets done inspecting it during the inspection period he shows me a tunnel I missed that spreads to basically everywhere in the house. He starts poking his screwdriver through floor joists all over the basement area and again on structural, load bearing tri-lams.
No matter how sweet our deal was, it wasn’t going to be enough to cover all this. And we were figuring the long term liability was too great EVEN IF we could get the seller to come down further.
I’ve seen extensive damage before. There is repairable. There is not repairable at a price that makes senses. This didn’t make sense. Best to move on. That’s the beauty of real estate inspections.