Let’s say you’ve familiarized yourself with the home inspection process as a buyer. You know what they’ll check and have found a good inspector. Have you considered what you’ll do if the inspector finds issues with the home that you didn’t know about? Our team at SPT Home Inspection Services would like to give you some advice about negotiating such home repairs in case you face this situation.
Talk to a Realtor First
How aggressive should you be in demanding that a seller fix defects or problems uncovered by an inspection? A good Realtor will know the local market as far as whether it’s a buyer’s or seller’s market and can give you a good idea of how much bargaining power you’ll have with the seller over repairs. If you’re not sure what strategy to pursue, ask your Realtor or contact one if you’re not using one yet in the transaction.
Consider Asking Them to Knock Some Money Off the Price
You will need to decide if it makes sense in your situation to demand the home seller make any required repairs or if you should ask them to knock the estimated cost of such repairs off the final sale price. Is this home you just bought vacant? In this instance, there’s no one there to do or to contract out any repairs, so getting a break on the price is the obvious choice. Also, if you do the repairs later, you can select the contractor or do them yourself if you’re handy. As the buyer, it’s going to be your home for however many years, so you’re the one who’s motivated to make sure they’re done right.
Don’t Quibble Over Small Repairs
If you and the seller are arguing over repairs totaling less than a thousand dollars on a home that’s selling for over $200,000, this may not be a good use of your time. Doing this becomes even sillier if you believe you’ve gotten a good deal on the home at this price.
Concentrate on Repairs Necessary for Financing
If you’re like most buyers, you will be getting financing to enable you to buy the home. The company lending you that money has an interest in it not being a rat trap that will fall apart months after they’ve lent you a couple hundred thousand dollars to buy it. The seller will need to ensure that major structures and systems, such as the roof, plumbing, electrical, water heater and HVAC are in functional condition, or they risk losing the sale when you lose your financing.
Professional Home Inspections in the Philadelphia Area
Your friends at SPT Home Inspection Services hope that you found the above tips helpful. If you are looking for a home in Bucks County, Montgomery County, Berks County, Chester County, Delaware County or Philadelphia, please consider us for all your home inspection needs. Our inspectors are fully licensed and insured in the state of Pennsylvania through the National Association of Home Inspectors (NAHI).
We inspect every home as if we were the people buying or selling it. We thoroughly check the structure and all the major systems to give you peace of mind that you are getting a piece of the American Dream rather than someone else’s nightmare that they’re trying to unload on you. After completing our inspections, we provide you with a complete home inspection report that concisely and completely details our findings. You can then use this report to negotiate with the seller over any issues that are found, so you know you’ll be getting the deal you expected. Please contact us so we can set up your home inspection at your convenience.