Although we’re getting a lot of activity in the market lately, many properties going under contract are moving on to fall out of escrow.
In the past few years, home sellers have had the luxury of ignoring repair requests. But now that buyers have gained more leverage, sellers no longer hold all the cards. This means negotiations over repairs have become a more balanced game.
When it comes to repair requests, it’s always fair for buyers to ask that health and safety issues be resolved. This includes everything from an out-of-order garage door motion sensor to a short-circuiting electrical panel and beyond.
But what about repair requests for things that might have been missed during the buyer’s initial walk-through—like a roof leak in the attic. Requests to have these kinds of issues resolved, similarly to health and safety issues, are also fair game.
Repair requests that might receive some pushback, however, include items that would have been obvious during the buyer’s first visit, like a broken window or loose floor tile. Issues like these should have been incorporated into the original offer, rather than being addressed for the first time following a home inspection.
Fortunately, experienced buyer’s agents will be able to advise their client against asking for thousands of dollars’ worth of credits for repairs they should have requested before the inspection ever took place.
While some buyers will treat a purchase as nothing more than a business transaction, others will be largely motivated by emotions. This is precisely why utilizing an agent’s guidance as a seller, too, will be crucial—discerning whether a buyer is acting based on logic or emotion will help inform your approach to negotiations.
Repair requests tend to be the final stumbling block buyers and sellers will face in the real estate deal, so if you’d like to learn more, then don’t hesitate to reach out.
If you have any other questions or would like any additional information, feel free to give me a call or send me an email. I look forward to hearing from you soon.