overthinking real estate

[redxblack]

This is a really good move.

I think it was designed fine and had appropriate drainage that likely got plugged for years. This guy did little to no maintenance at all in 35 years. Still, having an engineer confirm the issue could offset the cost of fixing the drainage and then some. When my wife gets home I'll fly it past her and see what she wants to do.

When I say it's over budget, I mean I won't be able to have cable tv or a gym membership for a couple years. I'm totally okay with those sacrifices as a trade-off.

[Triple J]

I think it was designed fine and had appropriate drainage that likely got plugged for years.

If the wall is tilting it wasn't designed adequately. That doesn't necessarily mean the engineer/architect made a mistake, just that it sounds as if they chose to rely on a drainage system to lower the loads on the wall. That's an engineering judgement call, often made by the owner/builder since they're footing the bill...stronger walls cost more. Drainage systems eventually clog, and are rarely maintained...especially by a second owner. Of course, no one believes this when something is being designed and built and $$ is involved...or they feel they will maintain the system, and it isn't their problem after they no longer own the house.

[il d00d]

One other thing I'll add - we recently went through a cycle of considering moving from our smaller, higher per sq ft home closer to downtown to a nice McMansion out in the burbs close to the grandparents.  We did the research, put in a few offers, but ultimately decided to stay put.  In the process, I took a different tack in negotiating price than I did the first time we bought and I felt better about the ones that got away this time.

Come up with your own value, offer that, and walk away if they don't like it.  The value in this case accounts for what you think it will cost to make the house right.  It is really easy to get swept up in figuring out average price sq ft, comps, what you think the seller would take, what you think the seller would negotiate on fixes, minus a percentage factoring in negotiation, etc.  "Market value" is the result of negotiations that occur on a transaction by transaction basis, and not (or am suggesting it shouldn't be) the other way around.  The market doesn't know anything about individual houses, so don't be afraid to ignore it.

So stick to your own math.  It is always painful walking away from a home you know you would like - but it is less so if you put together a reasonable offer based on what would work for you, and were turned down.