Best Approaches To Take When Negotiating Repairs
The inspection on your new home is complete and you have a list of needed repairs in your hand. Now you can prioritize them and sit down with the sellers to negotiate which ones they would consider paying for.
1. Decide Who Will Make the Changes
Get the names of a few general contractors if you haven’t already. One of the real estate companies in Montgomery County probably has a suggestion, and you can check Yelp. Meet each of them, find out what their experience has been doing the repairs you need, and get estimates. The decision is yours on who you choose.
2. Put Yourself in the Seller’s Position
Be gentle when you approach the seller with requests for any type of payment. You are putting out the money to buy the home, but they will have incurred many expenses that you don’t have. Offer a copy of any estimates and ask what they are willing to compromise on. They might suggest a lower price in lieu of contributing to repairs.
3. Who Pays the Home Inspector?
It might be easier to figure this out beforehand. If the inspection gets done and no one wants to pay the inspector, there will be problems. This is another cost that can be negotiated with the sellers. You will find that in home inspections, home repairs, as with life in general, you can find a way to negotiate nearly everything.
4. Mandatory Repairs vs You’d Like to Have Them Done
The home inspector might find some problems with the home that absolutely must be taken care of before the sale can go through. These would include problems that could be a health risk such as issues with the electrical system and HVAC. Some repairs won’t need negotiation because the seller will need to be responsible for them.
5. What You Can Live Without
You might want some repairs to be done that are not urgent. Decide where they fall on your list of priorities and how much you can budge on who pays for it. If the windows are single-paned and you really want double-paned, you can ask the seller to pay part, or you can just pay to replace them yourself. They are not obligated to pay for a repair or replacement just because you want it done.
6. The Sellers Aren’t Required to Pay for Any Repairs
You can ask the sellers to split all the repair costs with you or ask them to pay for all of them. You are somewhat at their mercy because they are not obligated to pay for any repairs or to replace anything, even if it means taking the house off the market. So you might be put in the position to decide if you want to pay for all repairs or not get the home.
It can be a confusing business, this homebuying. As you go through the steps and accomplish one after another, you will be closer to being able to call yourself a homeowner.