Inspections and Repair Negotiations
While our sellers tend to become less stressed as soon as all of the sales contract signatures are in place, 4% REALTY is with them and ready for the next negotiation phase. Property inspections can frequently result in buyer requirements for corrections by the seller. Whether you’re prepared for these or they come as a surprise, we’re here to help you to deal with them since repair disputes are the most frequent reason for contract failures before closing.
Part of our job is to help you to avoid too many “surprises” related to condition and repair negotiations after inspections. We’ll do our best to give you information about what we see that buyers may want corrected, but there are usually things that nobody can anticipate until the inspectors have submitted their reports.
You should always be thinking ahead to what may be coming in the way of inspections and repair negotiations, especially when the initial purchase contract price negotiations are in play. No matter how urgent your need to sell, if you go too far in price concessions at the beginning, you may have no room left when inspections are done and repairs are requested by the buyer.
As the buyer is normally paying for and ordering inspections, we help our sellers by making sure that they happen on time and receive the inspection reports by deadline due dates. We then meet with our sellers and go over the reports and any buyer request to develop a counter strategy. If there are no objections or they’re minor in nature and cost, you may opt to agree to corrections. However, if they’re more extensive and were not anticipated, our job is to help you to reply in a way that saves you money and keeps the buyer in the transaction.
Depending on the desires of the buyer and their selection of inspectors, there could be as few as a single inspector hired to do a thorough inspection of the home and all equipment supporting the home. However, there may also be other inspectors hired with a more focused goal, possibly a heating and air conditioning contractor, a well inspector, septic inspector, etc. Each of these inspections will have deadlines for completion and submission of reports and buyer requests for corrections.