I am in the process of buying a 1927 stone and stucco, small twin home that requires some fix-up/TLC. A home inspection revealed a leaking waste pipe. The situation does not appear dire at the moment, but I would want to get it fixed as soon as I take posession next month.
My question: what is the worst-case scenario? I realize I could be looking at a couple thousand dollars, but could this go to 10 K or more, depending on whether they need to take out the pipe from the lawn or add a sleeve?
My offer on the home was fair/low, and the owners have bent over backwards to accommodate me on several items. They made it clear that if they accepted my offer, they wouldn't give me too many credits after the home inspection. I have not yet signed the P&S.
If I take the home as is, what might I have in store for me re: this pipe? The home inspector said it costs $275 an hour for a plumber to work on the poopy pipes!, but he had no way of knowing whether this was a simple or complicated fix.
I could handle a worst-case scenario fix, given my discount on the home, up to 10-15 K. Could I possibly be looking at more or am I covered w/this amount set aside? I realize your answers would be guesses, but I welcome educated guesses. Thanks.
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