How much can you negotiate after home inspection?
In some cases a buyer may be better off requesting a reduction in the home’s sale price to accommodate for the cost of repairs.
For example, $10,000 off the purchase price if a buyer knows they will need to make immediate structural repairs..
What can you negotiate after inspection?
7 Tips: Negotiating Repairs After a Home InspectionDetermine What You’d Like the Seller to Repair. … Discuss What Repairs Are Most Important. … Get a Quote for Repairs from a General Contractor. … Would you Prefer Money or Repairs? … Understand the Seller is Not Obligated to Make Repairs. … Approach the Request for Repairs with Gratitude vs.More items…•
Can you lower offer after inspection?
Yes. Buyers can renegotiate the purchase price of a home if an inspection turns up major problems that affect the value of the home or the appraisal yields a value lower than the agreed-upon purchase price.
How do you negotiate a home inspection?
Negotiating Tip: Consider getting a cash credit that goes towards either the sales price or closing costs. This way you can have total control over how the repairs are completed. Negotiating Tip: Give a copy of the home inspection summary page to the seller. This way the seller can verify the item needs attention.
Can a home inspection kill a deal?
Houses and Home Inspectors Do Not Kill Deals When the findings uncovered in a home inspection significantly alter the buyer’s expectations about what they thought they were buying, this causes problems. … Here are the top three reasons buyers cancel a deal after the inspection.
What are red flags in a home inspection?
Look for visible signs of defects and possible safety hazards that may cause injury. These include decks not properly attached to the house, loose handrails, uneven stairs or walkways, exposed electrical wires, and mechanical systems that have not been maintained. If new construction has issues that is a huge red flag.