Negotiating Repairs After A Home Inspection!

Negotiating Repairs After A Home Inspection

The home inspector’s job is to give you a report of any issues that are identified in the home—both big and small. From there, your realtor will work with you to determine what’s reasonable to negotiate over and how to go about the process. To start, you and your realtor are going to want to choose what fixes are most important to you. You can certainly request minor fixes for things like cracked tiles or broken outlets, but be sure to hone in on what your biggest concerns are before handing over any requests to the seller. Once you have narrowed down your list of requests, your realtor will present them to the seller’s agent. Here are various types of requests you might make in response to a home inspection report: 1. Asking The Seller To Fix An Issue Before Closing It’s usually quite easy to accommodate, at least insofar as the smaller repairs. Keep in mind however that sellers might not be motivated to pay for top quality repairs, so you may be better off going the next route.  2. Asking For Price Compensation A buyer may be better off requesting a reduction in the home’s sale price to accommodate for the cost of repairs. This is another common way to go, though sellers and buyers often have different ideas about what a fair price reduction is for repairs. Do your research.  3. Asking For Alternate Compensation You may choose to barter as a way to negotiate repairs after a home inspection. If you do, make sure to ask for items that represent real value to you, since you’re essentially taking them in lieu of cash.  4. Asking For A Home Warranty... ...to cover your first year of residency, especially if the home has outdated appliances that aren’t quite on the fritz but may be soon. Home warranties include plumbing/electrical/heating/cooling systems. However, they don’t cover things like garages, non-plumbing related roof problems, and septic systems.

AUGUST 2020 MARKET UPDATE!

AUGUST 2020

Included in this blog post is a link to my Real Estate Update Newsletter. Please click on the link below to get the latest Real Estate Update for September! If you have any questions, please don’t hesitate to call or email my office. 

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