Home owners are not required to address problems identified in a home inspection. It is a negotiation process. In advance of evaluating inspection reports, be aware that inspections normally include problems plus additional suggestions from the inspector on upgrades that can be done. Consider the real issues rather than the improvements since it is unfair to expect upgrades. If upgraded, the value of the property would be higher. tips on home inspection negotiation strategies for Las Vegas home sales can be found in this article.
What to Negotiate
Home buyers should look through the list of problems and pick what is reasonable to negotiate, keeping in mind a strategical approach. Sometimes it is best to choose your battles. If there are few significant items and many minor ones, it may be better to only ask the important ones. In instances where there is a large list of mid-range repairs, perhaps requesting the more expensive ones would be more successful than including an overwhelming full list.
What Can Be Attained from Negotiations
Sellers have many options...
- Agree to fix your list prior to closing.
- Agree to fix a few of the items prior to settlement.
- Offer to give money the buyer (via a contribution for closing costs or a change in price). The repairs are the responsibility of the buyer.
- Refuse to do anything.
The negotiation may continue unlimited times until both parties accept the terms. In certain circumstances, agreement may not be achieved at all. If buyer and seller remain on good terms, both may be more giving during the negotiation discussions. Whereas if one side feels mistreated, the sale may not stay together.
Tips On Home Inspection Negotiation Strategies For Las Vegas Home Sales
Negotiation strategies should be weighed with your real estate representative and should reflect the many aspects of the transaction. Remember that inspection reports cover both issues and improvements and that trying to demand improvements is almost never successful. Inspections should not be an opportunity to renegotiate purchase price but instead to address serious issues that were not disclosed. Respecting this process will result in more desirable outcomes. The above Tips On Home Inspection Negotiation Strategies For Las Vegas Home Sales was prepared by Arina Hanciulesco at Realty PROS Las Vegas. Contact Arina for more assistance on negotiating property inspections and other steps in the home buying process.