Imagine you've found the perfect home, but the home inspection has revealed some issues that need attention. Now comes the crucial part of negotiating repairs with the seller. Effective negotiation can save you money and ensure that the necessary repairs are addressed before you move into your new home.
Not all repair requests carry equal weight. There are essential repairs that the seller must address, either for your safety or to comply with local codes. These include:
Water Penetration Issues: Any signs of water damage, such as a wet basement or moldy walls, must be promptly addressed. Water issues can lead to severe structural problems and health hazards if left unresolved.
Local Code Safety Violations: Safety hazards like missing handrails or an unstable deck pose significant risks to occupants and must be corrected before the sale is finalized.
Moreover, if you're obtaining a mortgage, your lender may require certain repairs to meet their lending criteria. These repairs will typically be listed in the home's appraisal report and will need to be fixed by the seller.Apart from required repairs, there are common home repair requests that buyers often seek, although the seller may not always agree to fix them. Examples include:
Upgrading electrical wiring
Replacing old-style galvanized water pipes
Sewer pipe replacement
Upgrading heating/cooling systems and water heaters
When requesting repairs, it's essential to back up your claims with evidence and estimates. A professional home inspection report carries significant weight. Specifics on the extent of damage and the estimated repair costs will make your case stronger. This evidence not only helps the seller understand the issues better, but it also demonstrates your seriousness as a buyer.Instead of having the seller coordinate and pay for repairs directly, consider asking for a "repair credit" instead. With a repair credit, the seller agrees to reduce the home price by an amount equivalent to the estimated repair costs. This approach gives you more control over choosing the contractors and ensures the job is done to your satisfaction.
For more information, click here. When you are ready to purchase a home let us know! We can refer you to an excellent real estate agent who will guide you through this process and negotiate on your behalf.