The Inspection and Repair Process for Home Buyers
It might surprise many to know that one of the more common causes for the home purchase not to close is the inspection and repair negotiation process. Whether you're on the buying or the selling side, a residential transaction usually carries some emotional involvement. When transactions and emotions are both present, there's potential for problems.
Be Realistic With Your Repair Request
You're the buyer and of course want to purchase your family's future home and move in without major condition or mechanical problems. Unless you're buying a "fixer-upper" in the first place, there is a certain expectation on your part for the condition of the home. The important thing to remember is to keep a realistic attitude throughout the process. The majority of home sellers have lived in their home for years, sometimes with what they consider minor problems that remain uncorrected. Remembering that something that you might consider quite a problem, they've possibly lived with for months or years and hardly consider noticeable.
Pay Attention to the Seller's Attitude
If the purchase price was negotiatated lower then the asking price, the seller may not have enough left over for repairs or reimbursement. Or they may not want to do the little repairs that they have lived with. If you are dealing with an irate seller then you will have to ask yourself what is more important .. getting the home or gambling to get those minor repairs done.
Priortize Your List of Repairs
Professional inspections are done to look for any major issues, such as roof, electrical, plumbing and moisture problems. Any major causes for concern may be addressed and some are required to by correction by the seller.
A good inspector considers it their duty to write up every little thing they can find and are generally deferred maintenance issues. The question for you as the buyer is how much importance to place on any or all of these type of items. It is often best to priortize your list of repairs with your Realtor so that you can ensure the most important repairs are done first.
Negotiating on Repairs
When inspections turn up needed repairs, take a balanced approach to the negotiations. Consider them in context with the original price negotiation and your desire for the home. It's rare that any of us leave a home in perfect condition, so not expecting that from the seller will usually make this part of the process go a little smoother. It's your family's future home and your decision.