Sellers are not required to address issues discovered in a home inspection. It is a negotiation process. Before considering inspection findings, keep in mind that they commonly include both defects uncovered in the residence and extra recommendations from the inspector on upgrades that can be applied. Focus on the issues and not the improvements since it is unreasonable to ask a seller to upgrade a property. If upgraded, the seller would be able to sell for higher than the current asking price. You will find information on negotiating home inspections for Williamstown homes below.
Selecting Items to Negotiate
Buyers should look through the list of issues and determine what they wish to negotiate, taking into account some strategy. Asking for every minor issue may alienate a seller and decrease the chances for success. If there is a major repair and several minor ones, it may be better to request that only the major one be addressed. If there is an extensive list of moderate issues, perhaps requesting for the most important ones would be more successful than submitting an outrageous full list. Buyers should prepare a list in writing when submitting a request.
Potential Negotiation Results
Sellers then have the choice to either…
- Agree to repair everything on your list before closing.
- Offer to fix a few of the requests prior to closing.
- Offer to credit the buyer (via a contribution towards closing costs or a change in price) in exchange for the buyer addressing the items themselves subsequent to closing.
- Refuse to do anything.
The negotiation process may go back and forth unlimited times until both parties accept the terms. In certain circumstances, agreement may not be reached at all. If buyer and seller remain on good terms, both can be more giving in the negotiation discussions. Whereas if one side feels alienated, agreement may be extremely difficult.
Information on Negotiating Home Inspections For Williamstown Homes
Neogotiation strategies should be considered with your real estate agent and should reflect the many aspects of the transaction. Always remember that inspection results cover both defects and general suggestions, and that attempting to negotiate upgrades is rarely successful. Inspections are not an opportunity to renegotiate price but rather to address serious problems that were not previously known. Understanding how the process works and the possible outcomes will hopefully lead to both parties treating each other with civility and respect,… increasing the chances of positive outcomes. The above information on negotiating home inspections for Williamstown homes was offered by Diana Escobar-Wachter at Access Abstract Corporation. Contact Diana for additional assistance on negotiating home inspections and other critical items in the home purchase process.