Newsflash: First time home buyer: Last day of my option period. Should I walk away from a home because of electrical issues?

I’m just going to try and summarize…. I’m having a baby in 3 months and we’ve been looking at houses since April. Finally found one we totally like. Beautiful renovations and upgrades, roof and hvac just a few years old, good location. We made an offer $15k under ask, and house appraised right on, so we believe we are paying fair market price. Inspections revealed mostly some small stuff that we weren’t worried about, except for the electric. We called an electrician to come out, and that’s when the homeowners got weird. When just trying to schedule a time for electrician, their agent was very standoffish and insisted they weren’t going to do any repairs. Regardless, we got an electrician in there and he identified overloaded breakers and wires, missing gfci, and some other code violations. Essentially, the added electric for the beautiful renovations was subpar and we’ll have to get it fixed immediately. Quote to fix it all is $4000. We asked for credits. Sellers responded that they have a quote for $750 to replace main panel and that’s all the credit they’ll give. Their agent gives a story about how frustrated the sellers are with the new home they’re building and how she wouldn’t be surprised if they decided to say “forget it.” Plus she says they continue to receive full price offers, hoping that ours will fall through. Mind you, this is after they originally claimed to have selected our offer because they liked that we are a young couple getting started, great credit, quick close and willing to leaseback. Our option period is up today. Our underwriter has completely approved our loan. We asked that they at least split the cost of electric repairs with us, with the understanding that repairs well be ordered immediately after close. If they don’t want to work with us, I think we’re going to call their bluff and terminate. It sucks, but we really don’t like the way they’ve handled our reasonable request to fix safety issues. Also, don’t like the idea of closing on a house, then immediately spending thousands on repairs (~2% of home price), on top of upcoming baby expenses. We spent over $1000 on inspections and appraisal. If they would contribute, we’d feel better about it. Are we being unreasonable? We have until 5pm today to terminate.



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