Do not presume that sellers are required to repair all problems discovered in a home inspection. It is a negotiation process. You should know ahead of time that inspections normally detail problems plus basic tips by the inspector for improvements that can be applied. Evaluate the defects rather than the improvements because it is not advisable to request upgrades. If that were done, the value of the home would be greater. information on home inspection negotiation strategies for Florida property sales is provided in this article.
Identifying Repairs to Discuss
Home buyers should review the list of problems and identify which problems are critical, taking into consideration a reasonable approach. Sometimes it is best to pick your battles. If there are a couple of significant issues and several smaller ones, it can be better to simply request the major ones. If there is a large list of moderate issues, perhaps asking for the more important ones would be more successful than submitting an extremely extensive list.
Potential Negotiation Results
Sellers then have the choice to either…
- Agree to address everything prior to closing.
- Agree to fix some of the requests before settlement.
- Agree to provide a credit to the buyer (via a contribution for closing costs or a change in price). The repairs are the responsibility of the buyer.
- Do Nothing.
The negotiation can go back and forth many times until both buyer and seller agree to the terms. In some cases, common terms may not be attained at all. If buyer and seller continue on civil terms, both may be more accommodating during the negotiation discussions. Whereas if one person feels taken advantage of, the deal may not stay together.
Information On Home Inspection Negotiation Strategies For Florida Property Sales
Strategies should be discussed with your real estate broker and should take into account the particular circumstances of the transaction. Remember that inspection results detail both problems and recommendations and that trying to negotiate upgrades is almost never successful. Inspections should not be a way to renegotiate purchase price but instead to address big issues that were not predictable. Understanding how the process works will lead to positive outcomes. The above Information On Home Inspection Negotiation Strategies For Florida Property Sales was provided by Sonny Solomon at The Keyes Company. Contact Sonny for additional tips on negotiating property inspections and other aspects of the property buying process.