When it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Whether you're currently searching for houses or your offer has already been accepted and you're preparing for the next step, here are some tips in the event that the home inspection reveals issues of concern.
Look To The Contract
I list this one first because it's the absolutely most important piece of advice I can give when it comes to inspections and repairs. Even if you've made an "as-is" offer the contract documents outline how inspections and repairs are to be addressed. Too often buyers and sellers initially address what they believe to be "fair" without looking to the contract first. Achieving fairness without looking to the contract language can create "feelings" of fairness vs dealing with fairness as described in the contract documents. And as an experienced agent and broker I can assure you feelings are a frequent "deal killer" of transactions. When all parties understand up-front the contract documents are how inspections/repairs will be addressed both sides are more likely to see things the same way.
Investing your time, energy and understanding in the pre-contract language on inspections and repairs will be one of the best investments you can make. I know it's exciting to buy/sell a home so don't let that excitement get in the way of thoroughly understanding the inspection/repair portion of the offer.
Decide What Deficiencies Are Most Important
Once you are comfortable with the offer language of inspections/repairs you can move forward to getting it under to contract to purchase. Before negotiating any repairs or defects with the seller you'll want to ensure you prioritize what deficiencies must be fixed and what you can live without. There may be torn screens or small dings in cupboards that may not be much of an issue, whereas damage in a foundation may serve as a deal breaker. Deciding what is most important will ensure that the seller knows you're really interested and that the fixes will make for a successful sale.
Request A Credit For Repairs
If a seller knows you're interested in a home, you may be able to get a little bit of leeway in terms of what you can negotiate following the inspection. Instead of expecting them to deal with the hurdles of home repair, you may choose to ask the seller for a credit so that you can ensure the repairs are completed on your own. This will not only enable you to have the repairs completed the way you would like them done, it may also make the moving process a smoother transition for all of you.
There are certain deficiencies that can show up during the home inspection, so it's important to consider how negotiations can benefit both the buyer and the seller. Home inspections and repairs are but one aspects of purchasing or selling a property.
If you are considering buying or selling we'd be honored to consult with you from the consideration period through closing and beyond. We operate on the knowledge that our value to you comes before, during and after the sale and we act accordingly. Give us a call and hear the benefits of working with My Ardor Realty LLC.