You’ve received your home inspection report (the same day as your inspection if you use Semper Fi Home Inspections) and have read through any issues found. After your home inspection there may be repairs that you want to negotiate for completion by the seller. So what’s the best way to go about negotiating for these home repairs?
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Decide What You Want Repaired
All situations are different. In some cases, the seller is solely responsible for repairs. In other cases, it’s the buyer. In many cases the buyer an seller will both split some of the repairs.
Your REALTOR can assist you with these negotiations.
Do You Want Money – or Repair?
It’s pretty common for the seller to offer repair money in the form of a credit against the closing costs. This then allows the buyer to take care of repairs without the seller being involved. This allows the buyer to be in charge of the repair process, including selecting their preferred contractors.
Repairs Aren’t Required
It’s common that a seller will list a home for slightly less when they know repairs are needed, in which case the “credit” for repairs is already built into the selling price. Consider which, if any, of the repairs may be deal breakers, and which you can easily move forward with.
Segment the Repair List
Review the list of repairs with your home inspector and your REALTOR. Break the list into three sections – major defects and safety concerns that will be expensive; issues that won’t be quite as costly; and issues that are of no immediate importance. For your convenience, Semper Fi Home Inspections reports list a summary of all items at the end of your inspection report that are color coded by importance.
Get Repair Quotes from Contractors
Remember that home inspectors are not contractors but we will rec om mend what type of contractor you should ask for a quote – such as plumber, electrician, HVAC.
Understand the Seller’s Point of View
Buying a new home can be an emotional process, yet you don’t want those emotions to play into your negotiations.
Keep in mind that the sellers have a ton of costs and fees associated with selling their home, and repair costs aren’t always their top priority. Or, they may be strapped for funds and simply cannot afford to put money into repairs. Consider your options.
Approach Your Request Professionally
Your real estate agent is mostly likely the person negotiating with the seller’s real estate agent. However, demands rarely go over well. Required repairs can sometimes be as much a surprise to the seller as they were to you. Keep your communication professional and friendly to increase your changes of a mutually beneficial agreement.
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