Sellers are not mandated to address issues discovered in a home inspection. It is a negotiation process. Before reviewing inspection findings, keep in mind that they normally include both problems uncovered in the home and extra recommendations from the inspector for improvements that can be made. Evaluate the issues and not the improvements since it is unfair to ask a seller to upgrade a home. If upgraded, the seller would be able to sell for more than what they are currently asking. You will find guidance on negotiating home inspections for Newbury MA homes below.
Narrowing Down Defects to Discuss
Buyers should consider the list of items and determine what they wish to negotiate, taking into account some strategy. Asking for ever single minor issue may alienate a seller and diminish the chances for success. If there is a major item and several minor ones, it may be better to request that only the major one be fixed. In cases where there is a long list of moderate issues, perhaps requesting for the most expensive ones would be more successful than submitting an overwhelming extensive list. Buyers should submit a list in writing when submitting a request.
Potential Negotiation Outcomes
Sellers then have the choice to either…
- Agree to repair all the items before closing.
- Offer to fix some of the requests before closing.
- Offer to give money the buyer (via a contribution towards closing costs or a change in price) in exchange for the buyer repairing the items themselves after closing.
- Be Unwilling to do anything.
The negotiation process may continue several times until both parties accept the terms. In some cases, agreement may not be attained at all. If buyer and seller remain on respectful terms, both could be more willing in the negotiation discussions. Whereas if one side feels taken advantage of, agreement may be extremely difficult.
Guidance on Negotiating Home Inspections For Newbury MA Homes
Neogotiation strategies should be considered with your real estate broker and should reflect every aspect of the transaction. Keep in mind that inspection results include both problems and general recommendations, and that attempting to negotiate upgrades is rarely successful. Inspections are not an time to renegotiate price but rather to address serious issues that were previously unknown. Respecting how the process takes place and the potential outcomes will hopefully contribute to both parties treating each other with civility and respect,… increasing the chances of positive outcomes. The above guidance on negotiating home inspections for Newbury MA homes was provided by John Wells at Wellsco Realty. Contact John for additional information on negotiating home inspections and other steps in the home buying process.