I'm in the escrow phase of purchasing my first home. So far I already paid home inspection and termite inspection fee, appraisal fee and other fees associated with mortgage. After the home inspection and termite inspection, I was given a report that the total repair of the home would cost anywhere between 5000-6000 dollars, over 4000 dollars from the termite inspection report due to many damages of siding from dry rot. Other repairs include leaking shower valve, kitchen sink, garage opener not functioning, etc. Since I'm purchasing a home at its listing price which is about 400,000 dollars, I did not expect myself to pay additional 5000 dollars on repairs. So my question is, do home inspection typically overestimate or underestimate repairs?
My real estate agent told me that dry rot on sidings are no big deal, but since the report estimated there are over 4000 dollars worth of damage, I want more opinion before I completely trust my agent.
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