Best way to negotiate after inspection
Jeannie B
9 years ago
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gyr_falcon
9 years agocpartist
9 years agoRelated Discussions
Done with the inspection, and now reviewing what we can negotiate
Comments (30)I've been reading this forums for 2 days straight non stop because we're in the process of selling our house, and this is the most ridiculous piece of advice I've heard so far. I'm sorry to tell you, but as a seller, if someone cam to me with this ridiculous list of things to do, we would sooner back out of the deal. Yes, we would do things that needed to be done do to code violations, and we would also do things that WE could do ourselves. But if you think a homeowner is going to start hiring all kinds of contractors and get on the phone to start calling and asking about bids, you are sadly mistaken, and you've been watching way too much HGTV. A lot of sellers rather just not deal with it, maybe they'll give you a deduction on the price, but to go all out like that. omg, that's crazy. Put down the remote control, walk away, and step back into reality. Quote: From what you've written, it sounds to me like you need more time to determine if the price you've agreed to is fair, but that you also need to respond to the inspection clause promptly. If that's the case, I'd suggest you use your repairs list to fine-tune your price. Be very agressive in your list of requested repairs and corrections. Throw in everything your inspectors brought up and ask that they hire licensed, bonded contractors to correct it and that the sellers obtain permit waivers (or whatever their called) for their DIY work from the city. Your list should be as long and burdensome as it can be without making you look like a total jerk. (Looking nervous is OK.) The sellers will need time to formulate a response, price out your requested repairs and get bids, and you should use this time to get all of the information you will need to determine in your own mind what price is fair and appropriate for a house:...See MoreAfter Home Inspection questions
Comments (22)The inspector said he can not quote costs. I called several HVAC shops and was quoted between $5-8k. I even called the current gas supplier (the owner of the conversion burner) and they quoted the same. We went back at the sellers with a need for the termites treated, rotten window replaced (small basement window--probably $30), and asked if they could help with the heating. We were very kind and not pushy in our request. What we got back was: the window replaced and a 1 year home warranty. That's it. What is really ticking me off is we are giving them concession after concession (in terms of dates and time lines), and they are giving back nothing. They are forcing us to give our final answer even before the radon test come back. Tomorrow is basically D-day where it sinks or swims. Luckily for them we really want the house and are probably going to eat all of it. I hardly think that I am asking for a new house, BTW. The asking price was pretty high and we offered that exact price because we wanted the house. Again...giving them everything they ask for....See Morehome inspection negotiation
Comments (18)Sylvia, Not all contracts are the same. Some state contracts state what certain items need to "be performing the function for which intended" and if they are the deal must go on, or the buyer will lose thier deposit. Other contracts have a due diligence clause where the buyer puts down a little bit of money for the right to have a certain amount of time to research the home until their heart's delight. There is no list of certain items that need to be in working order. After the buyer's due diligence period, the buyer has the choice of backing out or staying in. If they back out, they lose the due diligence fee, but recoup their earnest money deposit. During this due diligence period, the buyer can ask for repairs or renegotiate the price, but the seller has no itemized list of things that need to be working properly. If the buyer is using a contract that follows the first example, they will lose their EMD if they pull out, because it sounds as though everything is performing the function for which intended. If they are using the second type of contract, the seller is not demanded to do anything at all... either you want the home or not, and if not, you lose the due diligence fee, but get back the EMD fee. In both cases, the buyer can ask for anything they want, but the circumstances for walking away are different....See MoreHome inspection negotiation
Comments (13)Oh for Pete sakes. Sure � a renegotiation opportunity. Why not? The seller is always free to accept or reject the negotiations. Some crucial bits of info are missing here. Re #1, the OP hasn�t said what the inspector recommends or what the condition is. If the insulation material is literally falling down in chunks (as was the case in ahouse I lived in a few years back) and you see the pieces lying on the floor underneath - then it will most likely need to be removed entirely. Yes, Brick eye, it sometimes happens that an old house DOES have real issues that should be addressed. And sometimes what you as a buyer are told things about the condition that can be quite at odds with what your inspector is telling you - so that's why we need the mechanism for being able to reopen negotations (or walk away). If it is intact. the recommendation will be to either leave it be, or encapsulation which seals it more securely. In addition to health and safety issues, if the house is being billed as move-in ready, then I would re-negotiate anything that affects liveability, or if repairs are needed that would affect liveability while they are being done. So that could be item #1 and perhaps #4 (OP does not say if the damaged wall is structurally sound.) I wouldn�t bother with the outlet or a stove or anything piddly like that. Also I wouldn�t have the seller correct anything � they may just do the crummiest cheapest job which you�ll end up having to re-do anyway (voice of experience here.)...See Moregreg_2015
9 years agoc9pilot
9 years agoSuzi AKA DesertDance So CA Zone 9b
9 years agolast modified: 9 years agoJeannie B
9 years agoc9pilot
9 years agoSuzi AKA DesertDance So CA Zone 9b
9 years agogreg_2015
9 years agolast modified: 9 years agogyr_falcon
9 years agocpartist
9 years agonosoccermom
9 years agoJeannie B
9 years agoJeannie B
9 years agogreg_2015
9 years agokarin_2015
8 years agolast modified: 8 years agokathyg_in_mi
8 years agoncrealestateguy
8 years ago
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Jeannie BOriginal Author