How To Negotiate Repairs With Sellers When Buying A Home

Home inspections often reveal the need for repairs that are best done before you move into a house. In some cases, the sellers might also be forthcoming about problems with the house that they feel a buyer should know about before they agree to the purchase. Depending upon the agreement that you work out, either you or the seller will be responsible for making sure that any known repairs are handled appropriately. Knowing how to negotiate repairs with sellers helps you get what you need from your agreement.

Identify the Repairs You Want the Seller to Make

Most properties have some degree of things that need to be repaired at any given time. The trick is to figure out what you want the seller to handle. Your realtor can help you to determine which things you can realistically handle and the ones that a seller should consider making to make the property ready for the new owners.

Try to Focus On What Matters Most

When you work with real estate companies in New Castle, it helps to know what types of repairs are more of a priority. While you might not mind handling minor repairs such as replacing doorknobs, you could view your new home as inhabitable if it has a major glaring problem such as holes in the exterior wall. Prioritizing your needs helps you make a better case during the negotiation process.

Find Out the Cost of the Repairs

You’ll want to get a few quotes from local contractors that could actually handle the repairs. Knowing how much the repairs will cost gives you an edge when you talk to the seller about the price of the home compared to the potential cost to fix the current problems. You can reach out to contractors on your own or work with your agent to find ones nearby to get an accurate quote.

Understand the Seller’s Position

The seller is technically not under any obligation to make repairs to the house. However, it is often in their best interest to do so to make the sale happen. If the discussion gets heated, then take a step back and assess how bad you really want the home. You don’t want to have any regrets later about walking away from a property that was perfect except for a few repairable problems.

Consider Accepting Money Instead

Credits are often offered during the final selling process of a home. A credit lowers the closing cost, and it can be used in place of conducting the repairs. The idea behind a credit is that the seller gives up a portion of their money to pay for repairs, but they will be under no further obligation after the closing is over. This frees you up as the buyer to then find your own contractor and oversee the repairs yourself.

Throughout the negotiation process, it pays to remember to be kind and gracious. The seller likely wants to be through with selling their home as much as you want to buy it. Identifying your needs and being willing to compromise helps you walk away from the agreement feeling satisfied with your decision.