NEGOTIATE REPAIRS/CREDITS
It is not A-typical for issues to be found during the home inspections. Depending on the specific terms of your purchase agreement, this may result in another round of negotiations with the seller. These negotiations may be in terms of asking the seller to have repairs made or give a credit in lieu of repairs.
Credit in Lieu of Repairs: This involves analyzing and determining average costs of the repairs you would ask the seller to pay in lieu of having the repairs completed prior to closing. This often is a preferred option for a seller rather than them having to deal with finding contractors and dealing with work underway while they are preparing for the move. KEEP IN MIND, THIS COULD AFFECT YOUR LOAN. We will discuss the pros and cons of this option on a case- by-case basis. Asking Seller to make Repairs Prior To Closing: One of the obvious advantages of a seller making repairs prior to closing is that the work is completed before you take possession of the home. The disadvantage is you do not get to choose who makes the repairs or how it is completed.
Tips To Consider Keep your Poker Face: The listing agent or the seller themselves may be present during the home inspections. Always keep your cards close to your chest, be aware of your conversations and try not to reveal your comfort level or discomfort of findings while within ear shot of the seller or their agent. This could be detrimental in further discussions and negotiations. Remember the Big Picture: The inspection period is one of the more emotional steps of the process for both the seller and the buyer. Sellers can often feel their home is being unjustly “picked apart” or a laundry list of issues that the seller feel are more maintenance issues can give the seller the impression that you are being unrealistic in expectations and “difficult” to deal with. Contrastly, buyers often feel like they are paying top dollar for the property and therefor your purchase should be free of any defects. It is Important to not get caught up in the emotions during these negotiations and lose sight of the end goal. I will help you in managing expectations and moving you through the resolution period successfully.
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