Do not presume that sellers are obligated to repair all problems uncovered in a property inspection. Like every other aspect of the real estate process, it requires negotiation. You should be aware beforehand that inspections ordinarily include defects plus additional tips by the inspector on improvements that may be done. Evaluate the real problems instead of the upgrades since it is unfair to request upgrades. If that were done, the value of the property would be more. information on home inspection negotiations for Brookline property purchases is provided below.
Your Negotiation Approach
Buyers should review the list of defects and identify what they wish to negotiate, keeping in mind some strategy. Demanding every minute issue may alienate a seller and diminish the likelihood for a good outcome. If there are a couple of major defects and several smaller ones, it may be more effective to only request the major ones. If there is a large amount of mid-range problems, perhaps asking for the most expensive ones would be more successful than including an overwhelming extensive list.
What Negotiations Can Result In
Sellers may elect to…
- Agree to fix everything prior to closing.
- Offer to take care of a few of the defects prior to closing.
- Offer to give money the buyer (via money towards closing costs or a change in price). The repairs are the responsibility of the home buyer.
- Refuse to do anything.
The negotiation can go back and forth many times until both parties agree to the terms. In certain circumstances, agreement may not be attained at all. If buyer and seller remain on cordial terms, both can be more willing during this process. Whereas if any one feels alienated, the deal may not stay together.
Information On Home Inspection Negotiations For Brookline Property Purchases
Strategies should be weighed with your real estate representative and should consider the particular situation. Always remember that inspection reports cover both defects and recommendations and that trying to demand upgrades is unlikely to be successful. Inspections are not an opportunity to renegotiate price but rather to address big problems that were previously unknown. Understanding this process will lead to better outcomes. The above Information On Home Inspection Negotiations For Brookline Property Purchases was compiled by Bill Kuhlman at Kuhlman Residential. Contact Bill for more tips on negotiating buyer inspections and other steps in the home buying process.