Hey folks, so I’m in a bit of a pickle here with this 3-flat I’m eyeing in Chicago. The inspection turned up a laundry list of problems – we’re talking major plumbing woes, a deck that needs a total overhaul, and windows that need swapping out. But the real kicker? Parts of the foundation are falling apart on both ends, and the floor structure might be in serious trouble too. The inspector even hinted that the floor could be exposed to dirt and moisture, which spells disaster.
The seller seems willing to play ball and negotiate, but here’s the kicker – fixing up this mess could set me back a cool six figures, especially if we’re looking at some serious foundation work. To make an informed decision, I know I need to get a structural engineer on board to check out the foundation and floor situation. But let’s be real, shelling out more cash for an engineer feels like a gamble. What if we do all this legwork only to find out the deal’s a dud?
So, here’s where I could really use your two cents. Should I cut my losses and walk away from this property? Or should I roll up my sleeves and try to salvage this deal in some way, shape, or form? I’m torn, and I need some solid advice on how to navigate this minefield of a situation. Hit me up with your suggestions, folks!