Buyers claim seller knew of home's leaky basement

Real Estate Matters

We do have an inspection contingency, so we could walk away from the contract. We would prefer not to do that, but we worry that if she did make the repairs that we would end up with a house that was still improperly renovated.

You're wise to have found a top-notch home inspector who called your attention to these potentially troubling and difficult problems. Given the current market conditions, you need to be focused on yourself and the condition of the house you're looking to buy.

While the sellers' circumstances might limit what they're willing to do to repair the problems with the home, you need to look at the price you're paying for the home to determine whether the seller must make the repairs when you compare the home to others in the area.

Another important issue to consider: How badly do you want the house?

If you want it only if these issues are taken care of, then you should allow the seller to do the repair, but agree to have a reinspection based on the work that has been completed.

Or, the seller can discount the house further and you can do the work yourself once you move in.

The ball is in your court. I've seen some extraordinary concessions from sellers lately because of their desperation to sell in a very slow market.