Buying a home is an exciting milestone, but the home inspection process can be daunting. After all, a home inspection may reveal issues with the home that weren’t apparent during the initial walkthrough. If the inspection report uncovers repair needs, it can create a challenging situation for the buyer. However, negotiating home repair requests from a home inspection report can be done successfully with the right preparation and approach.
Here are some tips for home buyers to successfully negotiate home repair requests from a home inspection report:
1. Prioritize the repairs
Not all repairs are equally important, so it’s crucial to prioritize them. Some repairs may be crucial to the safety of the property, while others may be more cosmetic in nature. Focus on the most important items first, so you have a better chance of reaching an agreement with the seller.
2. Get multiple quotes
Before entering into negotiations, get multiple quotes from licensed contractors for repairs needed to be done. It will provide you with the estimated cost of repairs, and you can use it to negotiate. Share these quotes with the seller and note that the cost of repairs may be lower for the seller if they do the repair themselves, which could help you negotiate.
3. Ask for a credit
Sometimes repairs can be complicated, and sellers may not want to make repairs that they’re unfamiliar with or don’t trust the people doing the repairs. In some instances, it may be more beneficial for the buyer to receive a credit at closing, which they can use to complete the repairs after the sale is finalized.
4. Be willing to compromise
Real estate negotiations are about finding a solution both parties can live with. It is important to be willing to compromise with the seller to come to a mutually acceptable solution that works for both parties. For example, if the seller agrees to paint over a discolored wall instead of replacing it, and you are comfortable with that solution, then it is a good compromise.
5. Work with a trusted real estate agent
A trusted real estate agent can provide guidance through the negotiation process. If you’re having trouble coming to an agreement with the seller, your agent can offer advice, help you prioritize your repair requests, or suggest an alternative approach.
In summary, negotiating home repair requests from a home inspection report can be done successfully with preparation and an open mind. Remember that both parties want to come to a resolution, if possible, that makes both the buyer and the seller feel satisfied with the transaction. By prioritizing, getting estimates, being open to alternatives, and working with a trusted agent, you can navigate the negotiation process and reach a satisfactory agreement.
This real estate column is brought to you by Kylah Artz, a local real estate agent with Texas Urban Living, serving the DFW area.
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