Red Flag or Normal?

Failed caulking and sealants

DRAFT: severity and verdict are pending review by a licensed inspector.

Exterior Severity: Maintenance

What it means

Gaps around windows, doors and penetrations.

Negotiate or walk away?

Normal upkeep; don't negotiate.

Who to call

DIY / handyman

Typical repair cost

$150–$750 (exterior caulking/sealing) (source). Get a local quote.

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General information, not a substitute for your own inspection.