How to Negotiate Repairs After a Home Inspection
Navigate asking for repairs after a home inspection.
In most cases, the homebuyer and seller have a contract that outlines all the terms that will take place during the home sale. While many buyers believe that this occurs before launching into a contract, it’s important to note that the negotiations only start at the contract signing but continue throughout the transaction until closing. Addressing issues before you buy the property is unlikely, since concerns and issues may be discovered after the official home inspection.
Here are three buyer tips for negotiation repairs on your soon-to-be-new home.
Think about the big picture.
Consider waiting to make minor repairs to the bathroom if you plan to tear up the floor and start anew in a year. If you plan to make several renovations to a room, then many of the repairs can be updated and fixed when you do this project, rather than battling for every item during negotiations, focus on the priority items.
Keep the plans to yourself.
A good listing agent will have a presence at the property inspection summary with you, your agent, and the inspector. Whether you’re casually talking and tell the listing agent that you’re very happy with the condition of the home or he/she senses that you’re uneasy with the inspection, they’ll likely be relaying what they observe to the seller. If you mention you’re planning a gut renovation of the bathroom, the sellers may hear about it, and negotiating any repairs in that room may be off the table.
Ask for a credit for the work to be done.
When the sellers are packed up and ready to go, they may not want to repair their home. They may be ready to turn the page and move on. If they do agree to make the requested repairs, they may not approach the repair with the same level of consideration or approach that you would as the new homeowner. If you take a cash-back credit at close of escrow, you can use those funds to complete the project yourself with your choice of repair-person and when you want. Chances are, you’ll be more satisfied with a job you oversee.
Stay on your toes and make sure you’re completely satisfied with the condition of home and your negotiated solution for possible repairs. Then, you can start looking forward to living in your new home.
Are you thinking of buying or still waiting for your perfect home to come on the market? If so, it’s time to talk to a real estate professional. To get started, contact Jenn Blake Real Estate Group at Pacific Sotheby’s International Realty in San Diego, California at 858-663-6788.