A home is never truly bought or sold until the money has changed hands. You may have received an offer on your house, but there are several other steps to go through before the sale is final, one of which is the home inspection. Unless your property is flawless—very few are—you are likely to have negotiations with the buyer.
The last thing you want is to endure lengthy negotiations, so what’s the best way to go about those home repair negotiations? That is one of the reasons I encourage you to have a pre-inspection done before listing your home. That will ensure you discover any repairs needed ahead of time. Taking care of these issues will go a long way toward making sure your transaction stays on track.
When the buyer asks for repairs, sellers should push for inspection credits or a price reduction instead of doing the repairs. There is simply too much stress and unpredictability in the repair work. The buyer will probably be very picky about the repairs, and you may end up being asked to do even more work if the buyer isn’t completely satisfied. Let the buyer choose the contractors and deal with the consequences after you’ve moved to your next home.
One of the complications of going through the inspection process and not coming to an agreement with the buyer is that you and your real estate agent may now have to disclose everything that was discovered during the inspection. In many states, this is a disclosure requirement that must be provided. This can make your house more difficult to sell.
Ultimately, the best solution is for buyers and sellers to come to terms during the inspection period. For this to go smoothly, you need an experienced agent in your corner who’s focused on what’s best for you.
We at the Tami Holmes Real Estate Team successfully negotiate more than 400 transactions per year, so please call or email me today so I can help you negotiate the most difficult parts of a real estate transaction. Feel free to contact me if you have any questions about selling or real estate in general. I look forward to hearing from you soon.