Hello World! Welcome Friends! A home inspection is a crucial part of the home buying process. And believe it or not, the negotiations only start once you reach the contract signing stage. In some markets, negotiations continue to take place even in escrow.
So let’s take a look at some important buyer tips that will help you negotiate repairs after completing a home inspection.
- Demand for a credit – first, you need to learn how to ask for a credit for the work that is required. This is crucial considering that most home sellers no longer pay much attention when it comes to repair works that are needed for their old house. Having this in mind, they may even neglect or forget about these repairs.
As a home buyer, you need to get the credit. This will save you from all the hassle of going back and forth just to confirm if the home seller conducted the repairs properly.
- Have a “bigger picture” mindset – do you plan to have parts of the house like the bathroom renovated in a few years’ time? Then you should not really mind if the tiles and floor are damaged. These small issues will eventually be included once the bathroom remodeling begins.
What you need to be mindful of, however, is that the repairs are still up in the air and still open for negotiations. If you want to offset some of your closing expenses, you should ask the home seller for a credit to fix these damages.
- Stay mum on your plans – during the home inspection, a listing agent may be present. He will walk you throughout the inspection process together with your agent and the inspector. If you share your future plans and intentions for the property and the listing agent hears about it, you may find yourself on the losing end as far as negotiations are concerned. Your Napa Valley real estate agent should be able to assist you during the process.
These listing agents are looking for signs of weakness on your part. If they see that you are uneasy during the inspection, they will likely inform the seller about it. And if you spend more than an hour choosing paint colors or measuring the home’s spaces, your negotiating powers will be reduced.
If you discuss your plans of renovating the kitchen, expect the sellers to learn about it quickly. The end result will be to your disadvantage. The seller will less likely offer you credit for the repairs of the kitchen cabinets, among others.
Here’s a valuable reminder: do your best not to complete the original contract considering that you are able and will negotiate for a lower price after the home inspection. If you are in the market for Napa Valley real estate contact a trusted real estate agent today.
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Toodles,
Great article, Generally, a seller is responsible for paying for the major issues such as mold problem, severe water damage, replacing missing or broken smoke detectors, and fixing crumbling foundation. Buyers and sellers can negotiate between themselves regarding who pays for what and can act accordingly.
So informative! Is it hard to sell a house without a realtor?
You can also include pest inspection in your house to make sure you can control the pest problem or identify it early to avoid causing more damage.