After a home inspection on a residence you’re hoping to buy, there’s a significant amount of negotiating that can take place surrounding potential repairs. From replacing cracked tiles to fixing faulty plumbing, there can be a lot of work that goes into a home before you may call it your own. Here are just a few basic tips on how to negotiate real estate repairs after a home inspection.
There are a few home basics that you should always be on the look out for with regards to repairs. Whenever you’re buying a home, you want to make sure that the essential aspects of the home are in good working order. And if they are not, either you want them repaired by the seller or, alternatively, you can get a significant discount so you can do the repairs yourself. These home essentials include the plumbing and electrical systems as well as the roof and foundation integrity. If there are any major flaws in these areas, it is not unreasonable to negotiate repairs from the seller. This may include replacing rusting pipes or updating faulty wiring. Be mindful however that repairs will take time and thus may push back your ideal move-in date.
Much of what is identified in a home inspection will be purely cosmetic. It can be anything cracking paint to a chipped tile. Often times, these repairs are minor and inexpensive. If you negotiate correctly and reasonably, many sellers may be willing to take care of these repairs for you with minimal hassle.
Much of what we see of a home is its exterior, so it’s important that you have a good understanding of what the landscape of your potential future home may need before you sign on the dotted line. Many sellers may not be willing to do any significant landscaping on your behalf, as they are typically under no obligation to do so. However, if the owner has an old swing set or above ground pool in the backyard, it may not be unreasonable to work out terms to remove those structures. Oftentimes, features such as these are built into the cost of the home, so bear that in mind as you search your local listings.
One of the most important and expensive pieces of any home is its HVAC system. An HVAC system controls the temperature of your home and can dramatically influence your air quality. HVAC systems can last a long time and are expensive to replace, so many home sellers may not be willing to replace an existing system. Be sure to check the health of the HVAC before you start your negotiations, as it can be a major sticking point for both parties involved. It may even be necessary to call in outside air conditioning services to inspect the system itself. This will give you a good idea of health and life expectancy of the current system.
Repair negotiations can be a stressful part of any home buying deal but it’s also a great opportunity to learn more about the home. Furthermore, it’s an opportunity to work out a deal with the seller. Whether they knock down the price for you or offer repairs on certain aspects of the home, a home inspection offers you the information and tools to be a more effective negotiator.