Many buyers forget that the purchase price isn’t the only negotiation point in a real estate purchase. There are a number of contingencies and processes that happen before closing, and one that frequently causes deals to evaporate is the inspection and repair negotiation process.
Inspections in a real estate deal can encompass many property aspects:
- Mechanical equipment
- Pests & insect infestation
- Mold & other environmental hazards
- Wells & water quality
- Septic systems
While your deal may not require them all, it’s my job to help you schedule the proper inspections and make sure that they’re completed on time. Failure to complete inspections and object to their results by deadlines can result in the buyer’s inability to take any action. I make sure this doesn’t happen.
Once an inspection is completed, there can be issues uncovered that you weren’t expecting and want to have addressed by the seller. This is a second negotiation in the contract process. I will go over inspection results with you and prepare necessary documents requesting seller action and corrections. Sellers do not normally have an obligation to undertake corrective action, so it becomes a critical negotiation point, especially if the problems are significant.
I’m here to assist you in these negotiations as, next to selling price, inspections and subsequent repairs are the biggest killer of real estate deals. Sometimes creativity needs to be applied to keep the deal moving when the seller balks at your repair or corrective action requests. I also maintain an extensive contractor list that can yield just the right contractor to get a job done at a price the seller can agree to.
The key to keeping a deal going with inspection problems is for me to be involved every step of the way, as it’s something I do numerous times every year. I’ll ensure that every resource is employed to keep your home purchase on track, as well as get every possible concession from the sellers.