Inspection report

Is there any builders on here that would look at an inspection report on a 1940s home I’m trying to buy and see if there’s anything that screams run away or that you would definitely ask to be fixed? Being an old home there’s a lot of little things and It seems like the report is over the top so I don’t know what’s serious and what’s not.
Thanks.
Pm me an email if you don’t mind.

What kind of wiring does it have?

If you want a real opinion you need a structural engineer to give you a report. Like you mentioned its an older home and the minor problems are going to be plentiful. Most real estate inspectors aren't licensed to comment on much more than you can see yourself. Especially when it deals with the integrity of the home. They will comment on if its functioning as intended.

And breaker box.

See knobs?

Money pit!

'Most real estate inspectors aren't licensed to comment on much more than you can see yourself'

Inspectors or Appraisers? Big difference. Most Appraisals have a disclosure stating that the Appraiser isn't qualified to determine the quality or scope of work done.
Most of the Inspections I have looked over gave pretty specific ideas and opinions on work done or needing to be done.

^ this ^. and have an electrician check wiring and breaker box as mentioned by Dry Fire

Pm sent

You will want to look at the breaker box for sure. Some areas require a new updated one be installed. It will run $500-$1000. I would also check the plumbing. It’s pretty expensive but not doing so could lead you to a huge expense on your end. Most older homes... before 1981 I believe... used cast iron pipes. The first home I flipped had those and they had rusted through. We had to drill through the slab and replace the entire plumbing with pvc... what a nightmare. The second house I flipped had pvc so I thought I would be okay without having the plumbing checked. Wrong. The pipe had a huge crack/break and was literally dumping raw sewage under the home. Both were real expensive and taught me a lesson to always pressure check the lines. If you find problems before you buy, you can adjust the price you pay for the home to get these things fixed. The foundation is another biggie.

500 to 1000 on a panel swap? 20 years ago by your brother in law.

I believe we paid under $1,000 for it but it’s been a few years, so my memory could be off a little. If it is, I apologize. Either way make sure you check it out, Chris.

EDIT***. Ducknbass you got me thinking about it and I just had to go see. Just went and dug thru my expenses on that flip. It was $900.

That's cheaper than ive ever heard of it being done. Was that licensed with a permit?

Yeah. The city of Plano had to sign off on it and ensure it was done correctly. Was my most lucrative flip. Bought it for $78k. Put $83k into it, and sold it for $256. It was a hoarders house and just destroyed. We found a car buried under all the crap in the garage we didn’t even know was there when I bought it. Lol. The foundation was jacked too, required 31 piers and that ran me $7300.

Had a few people look at It for me and the seller has already agreed to fix everything on It which was a pleasant surprise.
Having a foundation guy come out today to take a look though. That’s the big one so we'll see what happens.

Save that guys number!

Is the seller doing the repairs or having the repairs done? Or did ya'll adjust the price so you can have them done?

I'm a Realtor and in most cases we recommend a price adjustment so the buyer can have the repairs done. The reason being, if the seller does it and there are problems later it sort of opens the door for the buyer to accuse the seller of not doing the repairs properly. And it really depends on what the repair/s may be.

As mentioned above, it is likely that the electric panel needs replacing. If it has a Federal Pacific or Zinsco panel you most certainly want it replaced. And that should be done by a licensed electrician, whether hired by the seller or you.