Almost every home inspection comes up with a few things that need to be addressed. Most come up with several, depending on the age of the home and all of them are potentially negotiating points in getting you the best price possible for your dream home. Here is how to turn that home inspection in Philadelphia, PA, into a negotiating point the owners ignore at their own risk.
Prioritize the List
What recommended repairs from the home inspection are most important to you? What repairs are major versus relatively minor? Of what is there, what are negotiating points that could lower the cost of the house, best left for the new owners to deal with or can be ignored? Knowing this can help you map out a negotiating strategy.
Ask Before Closing
This is one way of putting the seller on the spot. It can work if the repair is simple enough. It likely will not work on major projects. Also, keep in mind that most sellers will not be motivated to hire extremely expensive repair teams since the job is a loss.
In some scenarios, the best approach is to ask for a reduction in price to compensate for the repair. This allows the buyer to have who they want to work on the repair and the seller only has to pay for the repair, not oversee it. The issue here will be buyer and seller disagreeing on price, so some negotiation will be necessary.
Proposing the seller leave appliances, furniture or tolls in lieu of having to address the repair is another way to get necessary repair work from home inspections covered. The key thing here is to inspect whatever is being left behind.
Another option is to make a home warranty part of the overall real estate sales process. In this scenario, a buyer insists the seller purchase a home warranty. You need to read the warranty carefully and make sure your repairs are covered by the company.
Make sure you understand what you want, what your partner wants and to the greatest extent possible, what the seller will go for. Not knowing so can lead to frustration as well as to purchasing something you do not want to purchase.
A home inspection in Philadelphia PA, can lead to many recommended repairs and findings. Here are some tips for making sure your recommendations are covered before the sale goes through.