How To Handle Negotiations After The Home
Inspection ?
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How To Handle Negotiations After The Home Inspection?
If your contract has an inspection contingency, it will outline how the negotiation will take place Once the home inspection is complete you can ask the seller to fix whatever needs repair. You can even ask them for credit for compensating future repairs.
Ask For Credit For The Repairs
You can ask for credit to compensate future repairs. If the seller agrees and you get credit and you take cash-back credit at close of escrow, you complete the repairs yourself. It will be better that the repair is handled by you because the job may be done better than getting the seller to do it.
Keep Future Renovation In Mind ď Ź
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If you have plans of renovating the bathroom in the future, you may not mind if the floor is slightly chipped, there's some need for caulking or if a faucet is leaking. But you can still negotiate for the repairs and ask for credit to save on your closing costs.
Don ' t Disclose Your Plans
During the inspection you should not disclose your renovation plans to the seller or listing agent. If the seller comes to know about your plans, they will keep that point in their mind. If you have plans of renovating the kitchen and you share the information with the home inspector in the presence of the listing agent, the seller is less likely to offer credit back to repair the kitchen floor or other damaged features.
Seller ' s Response
The seller will have 3 days to respond to your post-inspection requests.
Accept your request
Reject the request
Provide an alternative
If the seller rejects or makes an alternative proposal, you then have another 3 days to respond. Depending on your inspection contingency, you can decide whether to agree to the seller or terminate the contract.
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