Sometimes it feels like you’re in the clear after you’ve made an offer or received an offer on your home. Those who are experienced in today’s real estate market, like Bend Oregon Realtors, know that nothing is final until money has changed hands, all paperwork has been signed and filed, with crossed t’s and dotted I’s.
A home inspection can either help or hurt the price of a home, and it can become a big negotiating point. We’re here to walk you through what to do if a home inspection comes back with unexpected results.
Most homes go through some sort of negotiations, after the inspection has been finished. There’s no reason to feel bad about this; few homes are perfect. Negotiating after an inspection can either be one of the most stressful parts of buying or selling a home, or it can be as easy as you make it. As long as you’re prepared for an honest inspector’s report, all you can do is move forward with the results.
Sometimes you can save yourself the headache of a bad inspection, by doing some prep work before your property is listed. It’s important to take care of the issues that you know your home has. It will also go a long way to be honest with potential buyers. It’s what you’ll want in the house hunt as well. If you take the time and money to fix the small things that will turn up in an inspection, you could be heading off the problem before it happens. Some problems while not major, could cost you a percentage of your selling price, simply because it was left to be discovered by an inspector.
While it would be nice to have every home appear like new, this is never going to happen. An inspection should give the buyer a chance to renegotiate for major things, like necessary repairs to systems in your home like electrical or plumbing issues, or problems with the roof or foundation. An inspection should not be used by the potential buyer as a way to get a lower price on a property. Homes are lived in, and they do not come brand new. Keep in mind that home inspections are used to find potentially major defects in a property, defects that could cause a buyer not to consider the property. In most cases buyers and sellers can reach an agreement, and repair the necessary items before the sale is finalized. Sometimes the price is changed to account for the cost of certain repairs.
If you find something on a listed property as a seller that the buyer is pushing to be fixed, it’s best to offer a price reduction or closing cost credit, which would credit the buyer the money it should cost for the repair. Sometimes if a potential buyer is asking for repairs, they may have opinions on the way they’d like it to be fixed, so it’s best to credit them for the repairs in the price, and have them fix it on their own, once the property is theirs.