When you are buying an older house it is common for a property to have $10,000 - $20,000 worth of needed repairs. If a seller has owned their home for many years often there is newly found damage that is discovered during an inspection. In many cases it is not that the seller intentionally neglected their property, they just didn't know the damage was existed. Inspections by quality professionals are key as you need to know exactly what you are buying. Pictured below is rot in the wood framing of a home in the Oakland Hills. I represented the buyers of this house and I was able to negotiate dry rot and termite damage repairs before escrow closed. (The sellers paid the cost of the repairs.) Before my clients moved in the wood was removed, new wood was installed and the appropriate exterior was installed to code.