Sellers are not mandated to fix problems discovered in a home inspection. Like every other aspect of the real estate process, it requires negotiation. Prior to reviewing inspection reports, you should know that inspections generally outline issues plus additional suggestions from the inspector on improvements that can be completed. Focus on the real issues instead of the improvements because it is not advisable to request upgrades. If that were done, the price of the home would be more. tips on how to negotiate inspections for Waltham MA property sales can be found below.
Your Negotiation Approach
Home buyers should go through the list of defects and determine what is fair to negotiate, taking into consideration a strategical approach. Demanding every single minor item will upset a seller and diminish the likelihood for agreement. If there are few major items and many smaller ones, it may be better to only ask the major ones. In cases where there is a large amount of moderate defects, perhaps requesting the more expensive ones will be more successful than submitting an outrageous full list.
Potential Negotiation Results
Sellers then have the option to either…
- Agree to fix everything prior to settlement.
- Offer to repair a few of the items before settlement.
- Agree to give money the buyer (via a credit towards closing costs or a change in price). The buyer is responsible for repairs.
- Refuse to do anything.
The negotiation process can go back and forth several times until both buyer and seller agree to the terms. In certain cases, agreement may not be possible at all. If both parties continue on civil terms, both can be more willing during the negotiation process. Whereas if any one feels mistreated, agreement may be unlikely.
Tips On How To Negotiate Inspections For Waltham MA Property Sales
Strategies should be evaluated with your real estate broker and should reflect the specific situation. Remember that inspection reports detail both issues and improvements and that trying to request improvements is almost never successful. Inspections should not be a time to renegotiate purchase price but instead to address serious problems that were not predictable. Respecting this process will lead to more desirable outcomes. The above Tips On How To Negotiate Inspections For Waltham MA Property Sales was provided by Bradford Pratt at REMAX on the Charles. Contact Bradford for more assistance on negotiating home inspections and other aspects of the home buying process.